Kleros (PNK) is an open-source protocol for decentralized dispute resolution that went live in July 2018. The project leverages blockchain technology and crowdsourcing to ensure fair adjudication of conflicts.

It serves as an intermediary for decentralized applications (DApps) and their users. When no conflict arises, Kleros functions as a trustless third-party payment service. However, if a dispute emerges, the involved parties can request arbitration from jurors chosen from among PNK token holders. PNK is an ERC-20 utility token on Ethereum with a fixed supply.

Jurors render a verdict favoring one side. Arbitration fees are paid out in ETH to all arbitrators, while those who vote with the minority forfeit a portion of their PNK tokens to the majority voters. This ruling may be appealed for a fee. Kleros states that its goal is to enhance individual freedom and provide simpler access to justice.

The service fee, payable in ETH, is covered by the disputing parties or taken from funds already held in escrow.

Federico Ast, Clément Lesaege, and Nicolas Wagner established Kleros (PNK).

Ast serves as the CEO of Kleros and teaches on Coursera. His prior experience includes roles as a creator and evangelist at Crowdjury, as well as working as a journalist, speaker, and blogger for Clarín.

Lesaege holds the position of CTO at Kleros. Previously, he worked as a freelance smart contract security specialist and completed a research internship in machine learning at Technicolor.

Wagner is the lead developer at Kleros and also operates as a freelance web and blockchain developer. His background includes positions as a blockchain developer at Dether.io and a back-end developer at Tradelab Programmatic Platform.

Although Kleros is built mainly for DApps, it operates as a low-cost, decentralized arbitration system that may draw interest from beyond the blockchain sector. The platform aims to serve as a versatile dispute resolution tool, acting as a legal adjudication service in various scenarios.

Use cases cover oracle resolutions, breaches of social network policies, and escrow disputes. The PNK token is central to these processes because the likelihood of a juror being chosen for a case depends directly on their deposit amount.

Furthermore, PNK acts as an economic reward for jurors to maintain honesty. Holding these tokens also grants voting power proportional to the balance, which encourages owners to keep their tokens for governance. Jurors receive payment in ETH for each case they handle, collected as arbitration fees.

As of February 2021, the circulating supply for Kleros (PNK) stood at 599,684,715 PNK. At that time, there was no available information regarding a maximum supply cap.

The Kleros Network uses blockchain technology and cryptography to protect evidence, choose jurors, and encourage truthful rulings. Holding the protocol token grants users the chance to be randomly selected as jurors. Because PNK is an ERC20 token, it can be kept in numerous desktop or offline crypto wallets compatible with Ethereum, which provides a strong degree of security.

You can purchase, trade, or sell Kleros (PNK) on these exchanges: