W3P: TCR for NFT Fraud
Paymagic Labs
October 31st, 2022

Cross-protocol registry of NFT projects that aren’t fraudulent NFT contracts or spam (dropped without consent). Projects apply by depositing .1 ETH into a 4626 Vault, share tokens are escrowed. 3 day application period before automatically being marked verified via Soulbound token. ✅

During application period, curators, who stake 5 ETH, vote whether the project is fraudulent or not. Curators must vote 10 times a week or face a slashing penalty paid to the Vault. Otherwise they are paid share tokens from inflation.

If 3 or more curators mark a project as fraudulent 🚫, it enters the challenge process. The project can refute the fraud by staking 1 ETH (10x) to add evidence and restart application process. Two challenges are allowed and then it gets decided by a Kleros court & loser is financially penalized.

As the treasury grows, offer incentives to add your verification checkmark ✅ to NFT marketplaces & trading apps. With traction it becomes a DAO and curate other info through verifiable credentials.

Web3 Pitches (W3P) are short product write-ups that describe an emerging problem or opportunity in the Web3 space and proposes a minimal-viable solution that could be tested and iterated with users. The pitches are presented in screenshot essay form, which is meant to be short enough to be consumed on one page of a mobile screen. :-)

If you enjoy hearing about new novel Web3 use cases, please subscribe on Mirror. We appreciate the support. 👆

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