TruSet Token Beta Competition 1 Recap
The TruSet Token Data Beta has been live for two weeks and we have completed Competition 1 of the Beta.
Competition 2 is now live! We are doing a mini competition for the holidays. The prize pool for Competition 2 is 10 ETH. Competition 2 runs from Thursday Dec 20, 2018 until Thursday Jan 3, 2019. See details below.
Join our Slack and Telegram to talk to the TruSet team and hear from the Beta community!
Competition 1 Highlights
- 55 users onboarded to the TruSet dApp (excluding TruSet staff)
- 29 users earned a share of the 47.222 ETH prize pool
- The top 3 prizes were 11.756, 8.607 and 7.572 ETH
- Validated records were created for 40 tokens
- A total of 240 data proposals were contributed, 109 from Beta users
- Beta users cast 866 votes
Thank you to all our Beta users for helping test our product and generate high-quality token reference data records. Everyone can view the community validated token data on our public TruSet App.
Tokens
To kick off the competition, TruSet proposed data on 45 tokens.
- Our Beta users counter-proposed 109 times on 40 of the 45 tokens (89%)
- The community voted 931 times across all 45 tokens, closing 143 proposals (60%) across 42 tokens
- The community created validated records for 40 of the 45 tokens (89%)
Proposals
TruSet initially seeded the competition with data proposals for users to validated. Data was proposed for 4 sections of related information about tokens — Description, Project Details, Legal Entities and Listings.
- 45% of the data proposed came from the Beta users, 55% from TruSet
- In total 75 proposals were accepted, 39 were rejected and 29 expired
- Descriptions were the most easily validated, with a 95% closure rate
- Closure rates for Project Details and Legal Entities were around 50%
- Users struggled most with Listings, closing just 29% — this is an area for us to work on!
Voting
Users could vote to accept or reject by proposal. Users could not vote on their own proposals. A minimum of 5 votes was needed to accept or reject a proposal. Votes are only revealed if the minimum number of votes is met. Finally, a proposal could expire if a competing proposal was accepted.
- Of the votes cast, 595 were revealed, with 65% to accept the proposed data and 35% to reject it
Our Beta User Community Can’t be Fooled!
As part of our Beta test, TruSet wanted to see whether validators would pay attention to the details of data proposals, or just guess at the likely responses of their peers.
As one test of this behavior, we put five deliberate mistakes into our seeded data proposals. These “easter eggs” were obviously false data, but buried at various depths in fields within otherwise sincere proposals. We hoped that validators would be paying close attention, spot the mistakes, and co-ordinate on rejecting them. So, how did our community do?
We’re pleased to announce that the community validated perfectly! Not only were all five easter eggs found and overwhelmingly rejected, in four cases validators used the Comments feature to point out the mistake, and in all five cases correct data was proposed and accepted to replace the incorrect TruSet proposal
Click here to read more about our Easter Egg Test
Competition 2: Happy Holidays!
Competition 2 is now live! We are doing a mini competition for the holidays. The prize pool for Competition 2 is 10 ETH. Competition 2 runs from Thursday Dec 20, 2018 until Thursday Jan 3, 2019.
For Competition 2, you will still earn TRU tokens for successfully publishing and validating. We are adding new tokens to the list every week. We are looking for you to both publish the original section proposals and validate your peers’ proposals during this competition. At the end of Competition 2, we will calculate the net tokens earned from the close of Competition 1 until the close of Competition 2. Your share of the Competition 2 prize pool will be calculated based on your net tokens earned during this period. Like in Competition 1, votes will close after a minimum of 48 hours from publication and a minimum of 5 votes.
We have adjusted the staking and reward rules for both publishing and validating for Competition 2 to give larger rewards for the more challenging sections:
