How we incentivize the TRUTH
Incentivizing the Truth
Meet three members of the community to discover how they validate truth and eradicate fake news.
Arina | Armenia
Arina, 29, is an avid news consumer and is interested in the 2020 presidential election. She’s upset the corporate media is focused on the latest political polls instead of on an issue she is concerned about - the candidates positions on health care.
Arina joins the community by purchasing Ovis TRUTH tokens, which have grown in value to $1 each.
Using her TRUTH tokens, Arina submits a story idea about health care to the platform for the community to
Say 50,000 community members upvote, Arina’s story idea with their TRUTH tokens, any journalist who covers it truthfully will receive a purse of tokens worth $50,000.
If community members downvote, Arina’ story idea, Arina reclaims her staked tokens.
Through reading and voting within the community, Arina helps improve overall quality of news and earns more tokens.
Davis | New York
Davis, a 52-year-old journalist, sees Arina’s story about the candidates position on health care and the purse of 50,000 tokens that comes with it.
He will get the tokens worth $50,000 if he tells the healthcare story truthfully, accurately and fairly.
Davis writes a news story about the candidates’ position on
Davis stakes TRUTH tokens and submits his story to Ovis’ certified, independent fact-checkers.
Within hours the global Ovis community will
fact-check his article for publication.
Justin | Hong Kong
Justin, 28, from Hong Kong, is one of at least three independent fact-checkers who are certified by the Ovis community.
Justin and the other fact-checkers independently review Davis’ story for truth, accuracy and fairness.
If a consensus of the fact-checkers validates Davis' story as truthful, accurate and fair, they will earn TRUTH tokens from the processing fee deducted from the purse of 50,000 tokens.
If a consensus of fact-checkers, rejects Davis' article, the story will not be published. However, the fact-checkers will still earn TRUTH tokens from the processing fee deducted from the purse of 50,000 tokens.
By helping to validate the information in Davis' article, Justin has helped incentivize the truth and eradicate fake news and media bias.
Fortunately, Davis has a reputation for truthful, fair and accurate reporting. Ovis’ independent, certified fact-checkers publish his story.
Davis keeps the 50,000 TRUTH tokens*, which are worth $50,000. He can cash them in or hold on to them as they rise in value.
*minus the processing fee
Davis and the rest of the community, now have a truthful, verified and accurate story about healthcare, which was curated and funded by the Ovis community.
Additionally, the value of their TRUTH has increased. Surplus revenues are shared with all TRUTH token holders.
Ovis incentivizes journalists to create:
Truthful & Fair
If independent fact-checkers upvote, the journalist is rewarded with valuable TRUTH tokens.
If independent fact-checkers
downvote, the journalist forfeits valuable TRUTH tokens.
This model offers an elegantly simple solution for the problems of fake news, coordinated manipulation of information, and editorial bias.
Journalists must stake valuable
TRUTH tokens on any content
they upload to Ovis fact-checkers.