Blockchain distributed ledger technology has the capability of changing the way things are done across a vast array of industries globally.

The Kleros team is poised to use the power of blockchain to create a dispute resolution platform, which is known as the dispute resolution protocol layer for the Internet.

Unlike other platforms that launch their projects via initial coin offerings, the Kleros team is determined to thread an entirely different path, by organizing an ‘Interactive Token Sale’ later in May.

The interactive token Sale will not organize a private funding round. If all goes as planned, Kleros will be one of the first projects to choose this model.

The Kleros word is of Greek origin, and it means ‘chance.’ Kleros is coined from kleroterion, a stone randomization gadget used in democratic processes in ancient Greece.

The people of Athens would put their Pinakion (personal bronze identification plaques) into the kleroterion, and whichever one the system selects, its owner becomes a juror in public legal disputes.

The Kleros Native PNK Token

Kleros platform uses smart contracts to settle disputes related to everything on the Internet. Kleros randomly selects members of its community who are expert jurors on the matter and have the native Pinakion tokens to settle the dispute.

PNK holders are randomly selected to become jurors in disputes that two parties have chosen to get resolved on the Kleros platform. Jurors who judge the cases correctly will earn additional PNK tokens for each dispute they successfully resolve.

In a bid to maintain high standards and judge all cases in a fair an transparent manner, the Kleros team has chosen to organize its fundraiser without a private funding round also known as the presale.

The CEO of Kleros, Federico Ast said that:

“Initial Coin Offerings have shown the phenomenal public interest in funding blockchain projects, but participation has become a lot harder. Due to exclusive private sales and pre-sales, crowdsales have now bypassed the crowd.

We want to change that, which is why we’ve gone for an interactive ICO which allows for a fairer token sale. That way, participants can set their own cap, and then a uniform token valuation is deducted, based on the total ether contributed.”

The idea of an interactive token sale was first written in a paper by the founder of Ethereum and other expert developers. This model eliminates favoritism and deep discounting, and it gives everyone an equal opportunity to acquire tokens. Investors can freely submit a bid for Kleros tokens. However, they have the option to willingly withdraw their proposal if the hard cap of the TGE becomes too high.

The Kleros purchase protocol will give interested participants the chance to state the amount of PNK tokens they wish to buy and a personal cap in ETH. Smart contracts will remove contributors whose caps get exceeded and they’d be given a chance to enter a higher own cap to participate.

The Kleros team has said only 16% of the total available PNK tokens will be sold during the Kleros token event on May 15, 2018, and the remaining tokens will be sold later. In total, 66 percent of the 1 billion PNK tokens will be sold and further funding rounds will be scheduled as time goes on.

“In addition to choosing the IICO method, we have decided to do the sale in more than one round, similar to the model of a traditional startup, we are doing a smaller initial public sale followed by a sale later. We think it’s fair that people can choose to keep supporting the project as the team delivers on the product,” Federico Ast declared.

A demo video of how the Kleros platform works is available, and the platform will be ready before the token sale begins in May.

For more information visit www.kleros.io
Whitepaper: www.kleros.io/assets/whitepaper.pdf
Telegram: www.t.me/kleros
YouTube: www.youtu.be/NuSps_2wMQ4
Reddit: www.reddit.com/Kleros
Twitter: www.twitter.com/kleros_io
GitHub: www.github.com/kleros
Medium: www.medium.com/kleros
Email: [email protected]

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