For an in depth technical specification of the bond heads over here.
Initial settings
When IISS 3.1 will be activated, the bond requirement will be set to 5%. The slashing penalty will be set to 0% until the network and goloop is stable enough.
How to post a bond
You can find command line example further down this page
If you want to remove your bond, there is an unbonding period of 7 terms, during which your bond can still be slashed
Using Keystore
Posting a bond is done in 3 steps:
1.
P-Rep whitelist up to 10 addresses which can post the bond. This is done using the following RPC command (howto Broken link)
2.
Whitelisted bonder then must stake ICX to the P-Rep using (howto Broken link)
3.
Whitelisted bonder then must post the bond to the P-Rep using (howto Broken link)
ICONists can post a bond to up to 100 P-reps, if they are whitelisted by them
A P-Rep can only receive a bond from 10 different ICONists
You can manage your bond through ICONex and Ledger hardware. Here is a quick video to demonstrate the process.
bond_demo.mp4
Google Docs
Penalty/Slashing
When a P-Rep does not behave as expected, this bond will be slashed (ICX will be burn) following those specific rules.
An opportunity is defined as one term as Main P-Rep. Therefore, 30 opportunities means the last 30 terms as main P-Rep (which can be consecutive or not)
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For example:
You are main prep for term1 to term100, you receive one penalty at term 100
You are sub prep from term101 to term199
You become main prep again from term200, you still have the previous penalty recorded
To get rid of all your previous penalties, make sure your node behave properly for 30 opportunities (30 terms as main prep).
Command line example to post a bond
You can use public endpoints instead of a local node url/uri