Earning Honour

The RuneX "Credit" Score System

What is an Honour Rating?

Since RuneX is a social exchange, we carefully crafted a 'trust score' which acts as a back bone of the platform. Honour rating is not a token or NFT, but rather a non-tradeable score attached to your Discord account. Here is why Honour is the most important mechanic you will want to focus on in RuneX...

The higher your honour, the more trusted people will know you are. Not only this but you will be prioritized in our system to get priority treatment. This means your offers showing up higher above others when you are selling tokens. And when you are buying tokens, other users can see your honour, which may or may not influence their decision to do business with you.
The higher your honour, the more tokens you will receive from the RuneX airdrop How To Get The RuneX Airdrop
The higher your honour will also rank you higher on the Keys leaderboard when we launch our Friend.Tech Esque key trading marketplace. Since it is also great indicator of how much volume you do on RuneX, this will be imperative to how valuable your keys are. Learn more on this soon Trading Keys
If partner projects see you have a high honour rating they may also choose to give you airdrops of their own. High honour is a Proof Of Diamond Hands mechanism which can be very valuable for building a strong core audience to new projects.
Building your honour now is a great decision, as it can prepare you for other potential feature launches such as loans, prediction markets, or early access to other RuneX features.

How Do I Earn Honour?

Simple, the more you supercharge Supercharge Staking and the more transactions you do on RuneX the more Honour you will earn. It doesn't matter if you are a buyer, seller or escrow, you will earn Honour for every transaction. However, you can boost your honour exponentially to earn significantly more on every transaction by providing Insurance.

You can think of insurance as essentially a staking system for BTC (and the RuneX token when launched). It is used to boost your Honour rating and used as collateral for escrow agents in RuneX. You can learn more on how Insurance works for escrow agents here -> Insurance <-

->->->If you want to earn the most honour per TX, Insurance is the key.<-<-<-

Honour Rating Formula = Total Insurance x Total Volume

Can I Lose My Earned Honour?!?!

YES - There are 2 ways you can lose the honour you've earned.

Withdrawing Insurance - If you withdraw insurance you will lose honour correlated to your insurance staked. IE. If you remove 50% of your insurance, you will lose 50% of your honour rating. If you remove 100% of your insurance you will lose 100% of your honour rating. You DO NOT need Insurance to earn honour. You can earn without having insurance, but you will earn significantly less honour.
Delinquent Transactions & Fraud - We don't expect this to happen often, but we lay out the rules clearly in this guide. All we ask is that you stay present for open transactions, and do not commit any fraud or petty disputes. Abandoning your open transactions or attempting to abuse our system will result in major honour penalties or worse, permanent ban.

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Last updated 10 months ago

What is an Honour Rating?

The higher your honour, the more trusted people will know you are. Not only this but you will be prioritized in our system to get priority treatment. This means your offers showing up higher above others when you are selling tokens. And when you are buying tokens, other users can see your honour, which may or may not influence their decision to do business with you.

The higher your honour, the more tokens you will receive from the RuneX airdrop How To Get The RuneX Airdrop

The higher your honour will also rank you higher on the Keys leaderboard when we launch our Friend.Tech Esque key trading marketplace. Since it is also great indicator of how much volume you do on RuneX, this will be imperative to how valuable your keys are. Learn more on this soon Trading Keys

If partner projects see you have a high honour rating they may also choose to give you airdrops of their own. High honour is a Proof Of Diamond Hands mechanism which can be very valuable for building a strong core audience to new projects.

Building your honour now is a great decision, as it can prepare you for other potential feature launches such as loans, prediction markets, or early access to other RuneX features.

How Do I Earn Honour?

->->->If you want to earn the most honour per TX, Insurance is the key.<-<-<-

Honour Rating Formula = Total Insurance x Total Volume

Can I Lose My Earned Honour?!?!

YES - There are 2 ways you can lose the honour you've earned.

Withdrawing Insurance - If you withdraw insurance you will lose honour correlated to your insurance staked. IE. If you remove 50% of your insurance, you will lose 50% of your honour rating. If you remove 100% of your insurance you will lose 100% of your honour rating. You DO NOT need Insurance to earn honour. You can earn without having insurance, but you will earn significantly less honour.

Delinquent Transactions & Fraud - We don't expect this to happen often, but we lay out the rules clearly in this guide. All we ask is that you stay present for open transactions, and do not commit any fraud or petty disputes. Abandoning your open transactions or attempting to abuse our system will result in major honour penalties or worse, permanent ban.