Start
What PBI is
A bond market for the services software depends on: operators put capital behind promises the protocol measures, backers add theirs for a premium, and a broken promise pays the customers by formula.
01
Operator
claims its service, posts first-loss capital and a premium
02
Prober
probes once a minute, posts every ten minutes
03
Backers
fill the USDG and $PBI legs, earn the premium
04
Customers
paid back by formula when the promise breaks
The rule
Every promise is a number the protocol measures, and breaking it costs money by formula. Nobody decides a breach: settlement reads the aggregates posted onchain and applies the formula in Settlement. A contractor's performance bond and a rental deposit work the same way; PBI applies it to the APIs, MCP servers and feeds that software calls.
Three people
A developer whose agent pays an API or an MCP server wants to know it will hold. It reads the record, checks the capital, and can require a bonded dependency in code with isBonded.
The operator wants to prove its service holds. It claims the service, writes its promises into a bond and posts the first-loss capital.
The backer reads a record and puts money behind it for the premium. It loses only after the operator's own capital is gone.
Running today
The house bonds four services of its own with real USDG: a canary that sells the latest block for $0.001, a quotes feed for stock tokens, a filings feed and PBI's own record API. A house customer agent pays them over x402 every few minutes, so compensation has real customers to reach. About twenty public services are probed read-only and show 0 bonded until their operators claim them. One prober runs today, ours, from one machine; a second is added through the timelock.