Bonding curve
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To determine the reward / penalty per participant we use a simple linear bonding curve between 80% and 120%.
The linear curve results in the first 50% of sellers (withdrawn) to pay a total penalty of ~10% and the last 50% of sellers to receive a reward of ~10%. Max penalty and max reward is 20%. Break-even is at 50% of total pool withdrawn. For an overview see the curve below and for the implementation see Hodler.sol under architecture.