Actions That Require Bonding
Undertaking certain actions within the Bondex ecosystem requires a user to bond. This entails using BPs as collateral in order to perform the action. Whilst an action is in progress, BPs are locked until completion. Upon the completion of a successful action, BPs are returned to the user with an additional bonus — a reward for engaging in a value-add action or interaction within the ecosystem. If an action is unsuccessful, bonded BPs are forfeited by the user.
Bond points are off-chain points that are used to facilitate economic activity. They are not directly interchangeable for $BDXN tokens. They are a premium currency akin to video game virtual currencies.
The below table shows the actions that require bonding, as well as how ‘success’ and ‘failure’ are defined. This is a draft and will be confirmed after A/B testing and modeling. It will be updated as we iterate on product services and gather further insights.
Job application
Basic background initial screening stage is passed
Basic background initial screening is not passed
110% of bond
Cold outreach message
Message accepted
Message denied by recipient, or is unanswered for 14 days
120% of bond
Warm outreach message (message with recommendation from mutual connection, requires lower bond than cold message)
Message accepted
Message denied by recipient, or is unanswered for 14 days
110% of bond
Candidate referral
Candidate passes screening stage
Candidate does not pass screening stage
105% of bond
Undertaking test to gain credentials (provided via third party assessment provider e.g. Hackerrank)
Test is passed
Test is failed twice, or 14 days elapsed since time of bond without passing test
115% of bond
Signal interest to be selected as a juror in dispute resolution court
Answer summons and confirm participation within 7 days of receiving summons
Failure to respond to summons and accept case within 7 days of notification
120% of bond
Vouching
Vouching for a user whose Bondex Reputation grows
Vouching for a user whose Bondex Reputation falls
When a voucher earns BPs, a bonus is awarded to the voucher, equal to 10% of the total BPs earned by the voucher. This does not apply to purchased BPs
Users can also take other actions within the ecosystem, such as updating their profiles, verifying credentials, inviting others, joining events, or creating communities. These actions earn Bondex Points without requiring upfront bonding.
By doing these activities, users can grow their Bond Point balances and add value to the ecosystem. Since these tasks do not significantly impact other users if done poorly, there is no need to attach economic incentives for quality.
When users complete successful actions or reach certain milestones, they receive various badges (e.g., Connector, Recruiter). These badges impact Bondex Reputation scores and contribute to richer data profiles.
Note: the manner in which Bond Points behave and dis/incentivise behaviours is liable to change subject to new or altered App Store regulations
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