Bounties
Last updated
Last updated
Originally published in the Arkham whitepaper.
Buyers solicit intelligence by posting ARKM bounties on the exchange. To post the bounty, they must write the specifications of the information they seek, then lock in the bounty contract the amount of ARKM they wish to post as a reward. Anyone seeking the same intelligence can join the bounty by locking an equivalent amount of ARKM, which is the added to the total reward.
If the original poster of a bounty wants to remain the only intel recipient after others have joined, they can do so by buying out the joiner stake. For example, if the original poster placed a 1,000 ARKM bounty, and then two others join the bounty with 1,000 ARKM each, then the original poster can buy them out of the bounty by staking an additional 2,000 ARKM. The joiners receive their ARKM back, while the total value of the bounty remains at 3,000 ARKM, reflecting the increased demand for that intelligence. Joiners who have been bought out can buy back in by staking the new total bounty amount, in this case 3,000 ARKM.
Bounty hunters claim the bounty by submitting intelligence on the exchange. To prevent spam, bounty hunters must stake 10 ARKM in the smart contract, which they lose if a submission is rejected.
If the Arkham Foundation approves a submission, the exchange DON registers this response and reports it to the bounty smart contract, which then starts the 15-day unlock timer. After this period has elapsed, the bounty hunter is able to withdraw all ARKM in the bounty contract, less the exchange fee, to the address used to stake submission ARKM. They may withdraw before the end of the 15-day lockup period for a 10% fee. If, on the other hand, the submission is rejected, the submission ARKM remains in the smart contract to be added to the bounty.
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