a creator seals a short text with some words hidden. backers pledge toward a goal. once it is met and the chain has settled, about twenty minutes later, debords releases the text and the creator is paid. if it is missed, backers get their money back, plus a bonus from any bonds guarantors put up. backing gets you the text, or your money back, and a bonus when the seal was bonded.

1. seal: up to 256 characters in any language with at least one word hidden, a goal in eth or one token, a deadline from an hour to a week away, and a guarantee fee from 0 to 100%. debords checks the text and locks its hidden words, then your wallet sends it. for now a goal may be worth at most about 1,000 usd.

2. back: until the deadline, backers pledge toward the goal and guarantors bond behind it, up to the goal. a pledge or bond past what is left takes only what fits.

3. release: the moment the goal is met, pledging closes; once the block that met it is final, about twenty minutes on, debords releases the text. if it is not released within three days, everyone gets back what they put in.

4. claim: once a seal is over, everyone it owes claims their part, the creator's pay included, whenever they like.

not funded: the deadline passed first. not released: the goal was met but the text was not released within three days, or debords ended the seal.

the bonus comes out of the bonds, up to what was pledged, in proportion to each pledge, so it never exceeds a pledge. a bond's fee is the guarantee fee on the bond itself. debords takes 3% of what changes hands: the creator's pay, the bonds' fees and the bonus, at least 50 cents' worth on release, and nothing from anyone's own money coming back.

a goal of 1,000 usdc, a 5% guarantee fee, and 300 usdc bonded.

released: the creator gets 955.45, the guarantors 314.55 for their 300, and debords 30.
not funded, 600 pledged: the backers get 891 for their 600, the guarantors nothing, and debords 9.
not funded, 200 pledged: the backers get 394, the guarantors 100, and debords 6.
not released: everyone gets back what they put in.

the money sits in a public contract. once a seal is sealed, nothing can change its rules, and nobody can move its money but by them, debords included: it leaves only by claims, each paying exactly what a seal owes, and debords can withdraw only its own fees.

debords checks every text before it is sealed, and keeps the key to its hidden words so it can release them once the goal is met and final. nobody else can read them early. a release must match what was sealed, character for character.

everything here is public and permanent on the chain: accounts, amounts, times, and the text once released.