Mediation
Who is a mediator?
On Joint protocol, a mediator is a real person responsible for deciding the outcome of a dispute. They typically work with other mediators to decide the ruling for a dispute.
How can I become a mediator?
To become a mediator, you must purchase a mediator ticket and stake a minimum amount of P2P tokens to be used as a security bond.
The security bond is designed to encourage thoughtful and responsible mediation. But unfortunately, a portion of the mediator's bond is slashed and burned whenever a mediator gets it wrong.
What is the cost of a mediator ticket?
The cost of a mediator ticket is determined by the supply and demand of tickets at a point in time. Joint protocol calculates the prices based on supply and demand. If the demand for tickets is high, the price will rise. When demand is low, the price falls.
What is ticket maturity?
Ticket maturity describes how long a ticket must wait before it is ready to join a market. A newly purchased ticket must wait for time to elapse before it is considered mature.
Ticket maturity prevents an attacker from purchasing a ticket and immediately joining a market to influence mediation.
Can a mediator ticket expire?
Yes! Mediator tickets cannot be idle for an extended period or stashed for future use. If a ticket has yet to join a market after purchase, it will expire after some time.
The owner can cancel an expired ticket, allowing the security bond to be reclaimed.
Can I delegate my ticket to another wallet?
Yes. A ticket can be delegated to other wallets, allowing those wallets to vote on behalf of the ticket owner. The ticket will still be slashed if the delegates vote wrongly or miss a voting phase.
Can I resell a mediator ticket?
No. Ticket owners cannot transfer tickets to another wallet. They can only delegate their ticket to another wallet.
What does it mean to join a market?
To join a market means to offer your service as a mediator. Before joining, you will need a mature ticket with a required amount of P2P tokens (security bonds). The market determines the amount of security bond required.
How many markets can a ticket join?
A ticket can only join one market at a time. The ticket owner cannot rejoin a market with another ticket.
Can a ticket leave a market at any time?
No! Once a ticket joins a market, it must remain in the market for a duration before it can leave the market. This rule exists to limit the ability of bad actors to bribe and collude with mediators to attack a market at a moment's notice.
How does drafting work?
Miners perform drafting, a category of protocol participants that helps to maintain the protocol's liveliness through the execution of tasks. Miners are responsible for drafting mediators into disputes.
What is un-drafting?
Un-drafting removes a mediator from a dispute after the dispute has been executed or abandoned. Miners are responsible for un-drafting.
How does voting work?
When mediator tickets get drafted to a dispute, the dispute will enter into an evidence phase where the mediators will have some time to request and review evidence from the trading participants.
After the evidence phase, the vote-committing phase begins. In this phase, mediators must encrypt and cast their votes, requiring a blockchain transaction.
After the vote-commit phase, the vote-reveal phase begins. In this phase, mediators must reveal the vote they previously committed; this will also require a transaction.
After the vote-reveal phase ends, the appeal phase will begin. In this phase, the outcome of the vote is already known. Therefore, any appeal must be made within this phase, or the ruling will be considered final.
After the appeal phase, the vote is tallied, and the outcome is executed by the smart contract with the help of miners.
What happens if I vote with the minority?
A fraction of your ticket's security bond will be slashed, and you will be removed from the market.
What happens if I miss a vote?
A fraction of your ticket's security bond will be slashed, and you will be removed from the market.
Do mediators earn a reward?
Yes. Mediators are rewarded for their service to the protocol.