Anyone know how the damage from Bonds of Weakness is calculated?

I haven't been in P3 for a bit but am trying to remember. It seems to be the same amount of damage to all characters on your team, so it's either based on Traya's health or your health. Maybe 0.05% or something of your whole team's combined health times the count of Bonds of Weakness? I seem to recall it hitting me for like 66 damage when Traya had one BoW. Does this depend on the tier?
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