Participation-Mined Token-Curated Registry

Participation-Mined Token-Curated Registry is a fork of the original token-curated registry (TCR) and loosely follows the specifications found in the original Owner's Manual.

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Overview / key differences

PM-TCR has epochs. The Registry contract has exclusive ownership of a Bank contract, with reserve tokens released on a regular schedule (once per epoch), effectively inflating the token's liquid supply without increasing the token's total supply. Majority faction voters effectively earn 'inflation rewards' for their curation participation per epoch.

Hardcoded storage values:

• EPOCH_DURATION: The time between 2 epochs; currently implemented as 30 days, or 2592000 seconds

• INFLATION_DENOMINATOR: Used to determine inflation rewards per epoch

• BIRTH_DATE: The Unix timestamp of the block the Bank contract was deployed

During challenge resolution:

• The epoch number is stored as: challenge.epochNumber = (block.timestamp - BIRTH_DATE) / EPOCH_DURATION

• The epoch inflation is stored as: epoch.inflation = token.balanceOf(Bank) / INFLATION_DENOMINATOR

• The total number of tokens used for voting by the majority faction voters is stored as: epoch.tokens += totalWinningTokens

During claimReward:

• The number of tokens a majority faction voter used for voting in a given challenge/epoch is stored as: epoch.voterTokens[voter] += numTokens

Claim inflation rewards:

In addition to claiming rewards during a challenge, after an epoch ends, a majority faction voter can execute Bank.claimInflationRewards, which will transfer to the voter an amount of inflation reward tokens proportional to their token weight during that epoch:

• epochInflationVoterRewards = epoch.voterTokens[voter] / epoch.tokens * epoch.inflation

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Getting started

Configuration for deployment and contract parameterization is located in the conf directory.

Install node and ethpm dependencies:

npm install

Compile truffle contracts:

npm run compile

Run truffle tests on localhost:7545:

npm test

Run truffle tests with RPC logs:

npm test gas

Run solidity-coverage:

npm run coverage

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Deployment

Scripts are available in package.json.

Note: since v1.1.0, only the factory contracts are deployed during truffle migrate.

This repo requires you have a mnemonic phrase exported as an environment variable called MNEMONIC, e.g. in your .bash_profile:

export MNEMONIC='super entropic mnemonic ...'

You can use https://iancoleman.io/bip39/ to generate a mnemonic and derive its accounts.

To deploy to a local Ganache instance, your mnemonic must also be exposed to Ganache:

ganache-cli -m $MNEMONIC

Deploy factory contracts to a network:

npm run deploy-[network]

Spawn proxy contracts to a network using a deployed RegistryFactory:

npm run deploy-proxies:[network]

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Packages

The repo consumes several EPM packages. dll and attrstore are libraries used in PLCRVoting's doubly-linked list abstraction. tokens provides an ERC20-comaptible token implementation. plcr-revival features batched executions for certain transactions. All EPM packages are installed automatically upon npm install.