Investable Token Curated Registries

What is a Token Curated Registry

Of course, I’ll still provide a quick and dirty summary of what TCR’s are and what they’re used for so that everybody’s on the same page.

What is a Token Curated Registry?

Token-curated registries are decentrally curated lists with intrinsic economic incentives for token holders to curate the list’s contents judiciously. There are three user types in a token-curated registry and each has different interests, incentives, and interaction patterns towards the registry. Consumers desire high-quality lists. Candidates desire to be included in such lists. Token holders desire to increase the price of the tokens they hold. Token price increases as the utility of the list increases.

What do TCRs do/How are they useful?

The product or output of a token-curated registry is a list.

How can TCRs be applied to investment?

Curating high quality lists of social impact projects, startups, or even nonprofits empowers investors and donors to fund high quality efforts with relative ease. The mechanism also democratizes access to investment, grant making, and donation opportunities to those who wouldn’t normally have such high quality visibility into that opportunity.

Why do TCRs need their own token?

The utility of the token is directly correlated to the usefulness of the list the TCR curates.

What are some active examples of TCR being used?


Investable Token Curated Registries

An additional layer that can overlay a ‘traditional’ TCR would be one that empowers consumers to interact with the listings in a different way. By making TCR listees ‘investable,’ in that consumers could bet, donate, and or invest into the content being curated, we introduce new incentives for common agents that engage with a TCR:

  • Consumers — Additional incentive to invest in projects for an expected ROI based on the success of the project (simplified, tokenized SIB)
  • Curators — Increased utility to the TCR token, now that investments are being actively made based on the curation of the list
  • New set of Evaluation Agents to ensure the accountability of service providers applying to be listed on the TCR once investors put a stake into their (the service provider’s) projects
  • Staking mechanism that Investors, Service Providers, and Evaluators alike must submit to further enforce accountability and security in the system
  • A second token, ideally representing a strong store of value, to be ‘invested’ into the curated listee
  • “Investors” staking “Candidate” listings to provide up-front funding for the listee. Investors do not need to expect an ROI (return on investment) or deliverable (milestone or metric) from the listee, and can simply be donors if that’s the case
  • “Evaluators” staking “Candidate” listings to evaluate project milestones and challenge claimed progress if necessary. Evaluators are only needed if their is a specified expectation from the “Investors” of that listing (ROI or a deliverable)
  • Arbiters assessing validity of milestone challenges made by “Evaluators” to ensure that evaluating agents aren’t purposefully colluding against the listee

A Conclusion on Investable Lists

As our team delves into the application of ITCRs to support Social Impact Bonds (SIBs) and Development Impact Bonds (BIBs) on-chain, we will find better ways to generalize the protocol to work for more use cases. By adding evaluation agents in addition to TCR curation agents, we start to see a second level of accountability develop through which consumer of the registry can interact more intimately with listees. Stablecoins like DAI are an excellent tool to invest and or donate using this mechanism, but consumers can commit funds in any denomination they see fit. As we deploy a few use cases into the world, I’ll keep you up to date on how ITCRs progress!



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Robert Greenfield IV

Robert Greenfield IV

CEO of Umoja Labs, Former Head of ConsenSys Social Impact, @Goldman Alum, @Cisco Alum, @TFA Alum, Activist, Intense Autodidact