The creator can create and upload a quest(prediction content) that does not overlap with existing contents and have any problems such as against laws, unappropriated images, discriminated mentions and etc. with the contents.
Since the content creator requires a relatively large number of work-hours for the official registration of the ground, if the correct answer is determined after the ground is officially registered, the reward for the creation of the ground is transferred immediately through the blockchain network.
There are users (most of users) who prefer to participate rather than be a content creator. When they participate in each content, there is no required authentication time or standard, and they can freely vote with supported cryptocurrencies on the answer that is most likely to be the correct answer in the future.
Voters who voted for the correct answer will receive rewards according to their vote amounts.
COJAM DAO is a governance group that is freely formed by CT holders to transparently guide decisions on content creation, answer judgement, and governance of COJAM's reward ecosystem.
Further information, please refer to 'COJAM 2.0 (DAO)'.
Content creators can propose a new quest and possible answers on topics that have been creatively and uniquely presented or already exist in everyday life from such categories: Arts and Culture, Community, Competition, Crowd Resolution, Economy, and Science. Uploaded content must go through the validation process to ensure the quality of the Cojam platform.
*Creators need to pay a registration fee with CT set by the COJAM DAO
All quests require three types of smart contract registration: draft, answer, and approve.
The COJAM DAO first judges the quality of the quest according to the criteria set by the COJAM DAO every season. We believe the power of collective intelligence and they come up with the best possible validation process that meets both creators and DAOs requirements. The COJAM DAO members will be rewarded for their service when the quest successfully resolved.
A set of basic criteria :
- The correct prediction period must be set
- The prediction results must be clearly presented
- There should be no overlapping quests
- There should be no content that violates public morals or other laws.
A quorum to approve the proposed quest is also set by the COJAM DAO.
3. Vote (Prediction)
Voters find clues and information on the prediction quest and place supported cryptocurrencies (such as CT) as deposits where the correct answer is expected. All votes are recorded and secured on the blockchain network.
COJAM Market Smart Contract
COJAM brings this real-world information onto the blockchain and requires that the COJAM DAO reaches a consensus regarding the outcome.
The COJAM DAO will confirm the correct answer when it meets the quorum.
Further information regarding the confirmation procedure, please refer to 'COJAM 2.0 (DAO)'.
When the correct answer is determined by the COJAM DAO, the content creator, voters who voted for the correct answer and the COJAM DAO receives the reward accordingly from the deposits held in the COJAM market smart contract.
Platform fee of 10% will be composited as below with the introduce of COJAM DAO:
- 4% to content creator
- 3% to the COJAM DAO
- 2% to COJAM Foundation
- 1% to Dotionation/Burn
Further information regarding the reward formula, please refer to 'Reward/Fee Policy'.