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Decentralized Reputation Oracle

1. Overview​

The Decentralized Reputation Oracle is a transparent, trust-based resolution mechanism used in Panana Predictions to ensure fair and reliable market outcomes. It functions as a governance-driven, multi-signature system where a committee of reputable individuals determines disputed market results.

2. Governance Mechanism​

  • The oracle operates fully on-chain through smart contracts.
  • A committee is formed with an odd number of members, ensuring that a definitive resolution can always be reached.
  • The size of the committee can be adjusted via a governance proposal, voted on by the existing committee members.
  • All governance actions, including membership adjustments and parameter changes, are executed in a decentralized manner through smart contracts.

3. Committee and Voting System​

  • The committee members were selected based on their strong reputations within the community. Their incentive is to vote fairly, as any biased or incorrect resolutions would damage their trustworthiness.
  • The oracle functions similarly to a multi-signature account, where each committee member votes on the disputed outcome.
  • Since the committee has an odd number of participants, there will always be a definitive resolution, preventing deadlocks.
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Commitee members will be announced in the near future.

4. Summoning the Oracle​

  • Users can summon the oracle by paying a fixed fee (X USDC).
  • This fee acts as a deterrent against unnecessary disputes and helps cover operational costs.
  • The fee amount can be modified by a governance proposal initiated by the committee.

5. Transparency and Trust​

  • All committee members and their decisions are publicly recorded on-chain, ensuring full transparency.
  • Users can verify past rulings and the voting history of committee members.
  • The system is designed to be community-driven, with future improvements and changes governed by decentralized proposals.

The Decentralized Reputation Oracle ensures fairness, eliminates conflicts of interest, and provides a transparent and verifiable resolution mechanism for Panana Predictions.