Kleros Launches Ethereum Based “Doges On Trial” Game After $2.5M Funding
Doges On Trial
Kleros, an Ethereum-based startup, has launched a new game that is all about dogs (or doges, to be more exact). The company was able to raise $2.5 million USD in the first round of its token sale back in July. The game, called “Doges on Trial”, was designed following the principles of crypto economics.
The principles are as follow: if you properly design a system of incentives based on tokens, you will get the expected behavior. In this case, the company wants to incentivize people to curate images of the doge meme.
This meme, in case you do not know, is the meme of an apprehensive-looking Shiba Inu that has gotten the interest of the whole internet and got famous. In fact, the meme was so famous that Dogecoin was launched after its legacy.
How Does Doges On Trial Work?
While it would be expected that this token was all about fun and that it would not have any serious intentions, the truth is actually far from this. The CEO of the company, Federico Ast, has recently spoken to the media and he said that he actually wants to make something useful for the community.
The images of Doges on Trial will be used for more than just fun. They will be used to spot fake news, solve disputes on gig economy and even e-commerce platforms, according to the creator. This will all be made by helping people to curate lists of pictures of doges.
Kleros hopes that some companies, instead of building their own mechanisms for solving governance disputes, will use their system, which would benefit both sides. Kleros is participating in the Thomson Reuters incubator program at the moment and this game is part of it.
The Rules Of The Game
The whole idea of the game is to try to approve Doge meme images online. The investors of the company generally try to upload a picture of a doge on the platform. After that, the image goes for judgement and selection. A user can submit pictures of a doge or a cat (or both together) along with an ETH deposit on the platform.
Then, for a whole day, the image sits on a limbo and it can be challenged. You can challenge it by submitting an equal amount of ETH. If no one challenges it, the image is accepted normally. When the company’s trial of the game is finally finished, the people who were successful in submitting images will split a reward of 1 million Dogecoin.
While the game looks simple and inconsequential at first, as soon as someone challenges the image, three jurors have to decide whether it stays or not. Images that are not allowed include cats, have no doges or are duplicate.
Three jurors, all token holders, bet on the image. If two vote on one result and the other one votes differently, this one loses his money to the other two. Also, if someone challenges an image and loses it, it loses money, but it gets the money from the people who posted if the claim is accepted. This means that following the rules has monetary incentives in this game.
If a user does not agree, he can try twice again. First, for a jury of seven people and then later 15. This way, bribing jurors gets more expensive if you want to keep attacking the system. In the end, it would simply be unprofitable to keep bribing. The game theory dynamics, according to its creators, works very well because of these incentives.
Even if the platform looks like it works, one person was able to smuggle a cat in a picture that also has a doge on it. According to the rules, this person would get 2 ETH and a CryptoKitty if the company decided that the illicit cat was, indeed, a cat.
Doges On Trial Future Partnerships
If the project works as intended, the company is hoping to sell the solution to third parties, which could generate profitable returns. The vision of the company is that these companies should focus on their platforms and let the resolutions be left to Kleros instead.
It looks like some companies are already interested. Kleros is already intending to integrate the software with Ink Protocol and has announced a partnership with a company called Dether, which was created to allow users to transact using cryptocurrencies.
Some companies, like Augur, use similar game theory ideas, though, so it remains to be seen if Kleros is able to use its doges to dominate the market.
The Doges On Trial Verdict
This looks like a very interesting game and a great idea. While it is unclear whether the protocol of the company will be a success or not, at least it is a creative idea that uses cute pictures of doges. That is enough, isn’t it?