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Bonding Function Design

In: Cryptocurrencies and Tradable Crypto-Tokens

Author

Listed:
  • Ioannis Giannakouros

    (Financial and regulatory risk consultant)

Abstract

The blockchain paradigm has enabled decentralized transactions and automation, without necessitating the existence of centralized governance. In order to avoid chaos ensuing in token-based ecosystems, crucial process steps must be automated and allowed to execute fast without the need for human intervention. Instabilities can be reduced as long as the rules of this automation are carefully thought through in advance and implemented through robust technical means. Many ecosystems where cryptocurrencies and other crypto-assets are minted and transacted have opted to control such instabilities through so-called Bonding Functions, implemented in smart contracts. In this chapter, we explain this concept in some detail, progressing from basic definitions to typology, reference implementations, and finally to implementation guidelines.

Suggested Citation

Handle: RePEc:spr:fuobcp:978-3-031-98423-5_12
DOI: 10.1007/978-3-031-98423-5_12
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