TEAM

Yongqi Li

Product

Neena Wang

Design

Xin Liang

Contract

Jiajie Li

Frontend

Lingjun Mao

Contract

The Problem

Decentralization

Usability

The Problem

• With emerging digital media, individual journalism become prevalent^[1], misinformation and rumors are rampant on media platforms.
• Web2 traditional media is unidirectional and lacks transparent and censorship-resistant channels for user communication.
• Existing Web3 news applications are struggling to acquire users.

[1] Social Media Users In The World — (2023 Demographics) | Demand Sage

[2] Study: On Twitter, false news travels faster than true stories | MIT News Office

Solution

• Misinformation and Rumors: Validate2Earn, incentivize individuals, domain experts, and independent media to participate in fact-checking
• Censorship and lack of transparent: Blockchain offers transparency, censorship resistance and traceability
• Hard to acquire users in Web3: Browser plugin based tool to help user land on Web3 world smoothly and seamlessly.

A plugin that can be applied directly to current Web2 media platforms. It directly tell readers whether the news on the current page is true or false, with the reputation of the media.

A Web3 Website that contains detailed information about verification results of news, media reputation rankings and validator details.

Tech Stack

Metamask - wallet connection

Scroll - low cost transactions network

OpenZeppelin - Defender

Web3.storage - the public IPFS network

Infura - infrastructure-as-a-service platform

DEMO

Next Steps

• Phase2: FactLens website as a Web3 News Media
• Once we have enough users, we will begin to incentivize the act of posting news directly to FactLENS' website, as well as discussing and voting on it, with the goal of forming a more robust ecosystem for the community to thrive.
• Community Governance - DAO
• For different news verification requires different costs and therefore should receive different incentive tokens, so we will encourage community members to self-govern their rights and rationalize the incentive policy.
• Aggregation of news by event
• Readers can be directed to the right news about an event after seeing fake news about that event

User story map

Affected parties

News publishers

Regulated by the public. Reputation rate calculated based on historical news. Displayed to users to promote the media to spread the true news

Readers

Readers browse news. Get information about news fact. Protect themselves from fake news/uncertain news

Validators

Everyone can be a validator. Validators will be incentivized for validating news. Punished for incorrect censorship.