Token Curated Registries






Mike Goldin [ConsenSys]

paper: Token-Curated Registries 1.0​


"Token-curated registries are decentrally-curated lists with intrinsic economic incentives for token holders to curate the list’s contents judiciously."



consumers want high quality list

candidates want to be included in the list

token holders want to increase the value of their assets


mutual dependency 

token value increase

  • if more candidates propose more listings
  • if more consumers are interested in the list

if the quality of the list increases

  • then more consumers will be interested
  • then more candidates will want to propose more listings
  • then there will be more demand for the token of the TCR


how does it work

  1. deploy the TCR [dao]
  2. candidates must buy some tokens to pay for the deposit
  3. candidates make an application to the TCR
  4. a challenge period opens to let token holders challenge the application by voting by staking tokens
  5. candidate's application is accepted or rejected
    • accepted: candidates keeps its deposit
    • rejected: deposit is divvied up as reward amongst the token holders who participated 


incentives alignement

candidates are cautious in making applications as they might lose their deposit if their application is rejected

token holders should challenge and reject all applications but empty lists are useless and therefore are incentivised to accept some applications

consumers use the lists and do not signal the market


attack vectors

  1. simple trolling

  2. madman attack

  3. registry poisoning

  4. vote splitting

  5. vote memeing

open questions

  1. governance of the parametrisation

  2. reduction of the attack space

  3. issuance of TCR tokens


Token Curated Registries

By Laurent Hardy

Token Curated Registries

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