Description
Factland is a gamified, decentralized fact-checking platform. The process begins when anyone makes a claim, which the community surfaces by staking. The platform facilitates crowdsourced evidence gathering and collaboration. A provably random selection of jurors from the community decides on the claims to avoid bias. If the jury agrees with a claim, the claimant earns FACT tokens; if not, they lose their staked tokens to the winners. All research and fact-checking happens permissionlessly and openly, with the community reaching consensus through adversarial tokenomics to ensure honesty.
The protocol utilizes two distinct tokens: FACT and GFACT. The FACT token is a utility token essential for interacting with the protocol. Its uses include staking on claims, offering evidence bounties, accessing premium features and API, purchasing data-as-a-service, and participating in early adoption incentives. FACT also provides governance power over its own supply and staking rewards. The GFACT token is separate and is used for the governance of the Factland Foundation, the Factland DAO, and its treasury. Unlike FACT, GFACT is not for sale and is earned by contributors to the protocol, business, or community.