The community notes implementation doesn't need to be called as such, but it must have the core features of community notes or equivalent features:
Notes are shown prominently whenever the post is visible on the platform
Notes can be voted on my regular users, there's no paid moderation team
Notes are shown according to something like Cans consensus algorithm
I won't vote, and might clarify the question if ambiguities arise.
Update 2025-07-01 (PST): - Review Zuck's new video for additional context on community notes implementation. (AI summary of creator comment)
NOTE: This market previously existed, but I set it up incorrectly so that I'd only be able to resolve one answer as correct🙈🤷♂️. This market has been fixed, it's possible for multiple answers to resolve YES