The Krebit Ethereum blockchain contract defines how the KRB tokens are mint/burn and all rules for the initial supply, rewards for members using Krebit DApp, and referral rewards for inviting members. Interacting with an Ethereum smart contract has transaction costs based on the Ethereum Blockchain gas, as well as any service fee defined by the smart contract definition. The definition for the KRB contract can be found in the “contract.krebit.eth” IPFS address.
The first way to earn KRB token rewards is based on the Trust level that Issuer users give to your registered Verifiable Credentials in the platform, and the risk the Issuer defines in KRB tokens. Issuers can only stake up to the min/max KRB tokens balance in the contract. Rewards are based on the formula:
[ KRB = Risked KRB * (Trust / Max Trust) ]
Verifiable Credentials can be revoked by an Issuer, they can expire, and also be deleted by the credential subject. In all these cases both the issuer and subject rewards are also burnt.
Any member can also dispute a Verifiable Credential via proposal on the Krebit DAO. Once raised, disputes must be resolved by voting and the rewards could get burnt and the verifier’s stake could get slashed. Once a dispute has been raised and settled one way or the other, the user on the losing side will lose reputation (slashed KRB) and the one on the winning side will gain it (minted KRB).