When Latium was first completed as a proof of concept, one of the driving factors behind its creation was the ongoing improvement of the employer to employee relationship in the marketspace available today.
With several core components built from the ground up, Latium hopes to continually redefine that relationship and workflow process.
One of the key tools to accomplish that is the Guaranty, and the Bond.
Within the Latium platform, the Guaranty operates as a escrow for both the employer and the employee during application, acceptance and mutual agreement of work completion.
The employer chooses a Guaranty amount which is a portion of the total reward for the task that the employee is guaranteed to receive once marking the task complete. In order to work on a task that offers an guaranty the employee must post a Bond that is equal to the guaranty amount. In summary, the guaranty is protection for the employee, and the bond is protection for the employer so the employee cannot simply take the guaranty and walk.
This process was created and shaped by our own real work experience with crowdsourcing in the past, and our general desire to better that experience for the Latium community.
With both parties putting up a pre-determined amount of LATX, error resolution is much more streamlined and incentivized to ensure that both Employer and Employee have ample reason to work together to fully complete the task.
Now that you have a better understanding of how the bond is supposed to work, let’s focus on the process of funding your bond within the Latium alpha platform.
From your alpha platform login, select Profile, then click either Bond or Balance. You will then see the funding information as noted above.
Please follow the instructions from the page, included below:
Depositing LATX is somewhat different than sending other transactions. Please make sure you follow the instructions carefully and if you have any questions contact support@latium.org
Enter the amount of LATX you would like to deposit in the field below. (You musthave this amount in the wallet you send from or the transaction will fail and you will pay gas for nothing.)
Click the generate button
Open your wallet and enter the deposit address stated below.
Copy the custom data field below and enter it into the data field on your wallet.
Enter 0 ETH in the amount on your wallet
Press the send button on your wallet. Transactions take a few minutes to show in your account, so please be patient. Important! DO NOT send your transaction without the data field. If you send to the deposit address without the Data Field you will lose your tokens.
The guaranty funding is dependent on the (heavily at times) congested Ethereum blockchain network. We recommend viewing transactions in progress via etherscan.io.
Should you continue to have an issue, as always, please feel to reach out via email to support@latium.org
As always you can follow us on Twitter and join our Telegram Chat and Discord for the latest news, updates and developments as we progress.
