Use it
Back a service
Put USDG or $PBI behind a record you trust, earn its premium by the second, and take its slashes after the operator.
A leg of 1,000 USDG and a 3% slash
3% of 1,000 is 30, taken from the operator's 200 first. Seniors lose only past 20%, and no epoch can take more than 30%.
Legs and tranches
A bond has a USDG leg and, once the token is bound, a $PBI leg. In each leg the operator's capital is the junior tranche and pays first. Backers receive senior shares; when a slash reaches them, the share price falls for everyone in the leg.
Premium
The premium streams by the second. A tenth goes to the reserve, the rest is split between the legs by the operator's legSplit, then pro-rata to assets inside each leg. You claim it in USDG whenever you like, with claimPremium.
Exits
An exit request executes once the epoch after the current one is settled, so nobody escapes a breach in progress. If the bond lapses (its premium balance runs out), the current epoch's settlement is enough. When the term ends, every backer takes back the rest with withdrawRetired.
Go mode and builder mode
Go mode makes an account from a passkey on your device; PBI's relayer pays the gas, and backing opens in waves from a waitlist. You still need USDG in the account to back with. Sign-in with 
Google is a switch on a deployment once its OAuth app exists; it identifies you for the waitlist and the passkey still holds the account. Builder mode uses your own wallet and pays its own gas.