Bond Kote is a specially formulated, two-part cementitious coating, designed to be used as an ideal substrate to mechanically bond pool plaster over existing plaster finishes.
Sider-crete looks like it is more of an epoxy paint, and they don't require a bond coat in their installation instructions. Definitely more of a paint than a plaster.
Going by the picture it looks like it is deteriorating or wasn't put on thick enough. Did you get any kind of warranty?
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