Oracle Council
The Oracle Council is a governance body in Truemarkets, as well as arbiters of low level disputes.
The Oracle Council servers multiple functions in Truemarkets:
Create markets (initially)
resolve low level disputes
allocate incentives
define certain parameters
Insights in dispute resolution
In the genesis phase of this project, market creation is limited to Oracle Council members. These members will create markets based on community suggestions and market insights, in adherence to the Market Creation Guidelines.
The OC is a Specialist Committee as defined by the Truth Oracle framework. They provide insights to the discourse surrounding disputes.
In the ideal case, their proposed resolutions would reflect the most subjectively accurate outcome expected from the community.
The role of these specialists encompasses gathering all relevant insights necessary to cast an informed vote in the dispute resolution process. Of all the arbitrators in the protocol, the Oracle Council contributes the most informed opinion in a market's resolution path (assuming they are acting honestly).
Honesty assumptions
The honesty assumptions surrounding the Oracle Council are not critical. Sure, the OC servers a crucial role in Truemarkets, but their influence in the dispute resolution process is merely academic.
Any proposed resolution by this council can be permissionlessly challenged with a modest bond and escalated to more neutral arbitrators.
Oracle Council members are selected and compensated by the protocol to serve in their capacity. Dishonest behaviour on their part would jeopardize their positions. Any attempt at manipulation is trivially detectable and deterrable, and if the community feels as though members of the OC are acting dishonestly, they can be ejected them from the protocol.
What really keeps the OC honest though, is the ease in which their decisions can be challenged. Their limited power over the dispute resolution process constrains any attack vectors that can come from these protocol actors.
Incentive allocation
Another responsibility of the Oracle Council is allocating incentives for YES/NO liquidity and prediction staking.
Given the high churn and unpredictability of prediction markets, incentivizing LPs is a tricky task. To do so requires a body that can flexibly allocate incentives across various markets based on community demand and other indicators.
Control over the allocation of incentives is limited to a predictable stream of TRUE tokens. Transparency and predictability in emissions is a priority when allocating incentives, and the Oracle Council must maintain consistency in their distribution logic.
Governance roles
In the genesis phase of the protocol, the Oracle Council may also be tasked with additional governance responsibilities that can be relaxed as the protocol's governance matures, i.e.) defining market and oracle related parameters.
Genesis Oracle Council members:
Truemarkets AI agent
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