Bondly Finance (launched in September 2020) is an interoperable, transparent DeFi (Decentralized Finance) protocol built on the Polkadot blockchain which later moved on to the Cardano blockchain.  It is described as a portable peer-to-peer exchange that enables trading across any chain, through any medium. It aims to bring agile and trusted DeFi to everyone and bridge the gap between decentralized escrow payments and traditional marketplaces providing services like cryptocurrency staking, atomic swap, a decentralized exchange (DEX), non-fungible token (NFT) marketplaces, etc.

Overview

Bondly was created on a Polkadot blockchain. It aims to drive DeFi (Decentralized Finance) adoption by solving current DeFi problems like increasing gas fees and interoperability between different blockchains. It also aims to create a trust for DeFi ecosystem as many of the new people entering into this space become victims of 'giveaway scams' and send their crypto's to people they don’t know for vague promises of more wealth.

Bondly is not a core blockchain, it is the financial infrastructure solution that operates on top of existing blockchains that is designed to offer maximum value to consumers and institutions.

Cardano

On December 11, 2020, it was announced that Bondly would bridge its cryptocurrency into Cardano, while still supporting Polkadot. This comes as part of Cardano's roll-out of Goguen, which is a new protocol that allows decentralized applications to build and operate within Cardano's ecosystem.  This was the first time a DeFi project was put on Cardano's platform.

Tokenomics

Bondly platform has introduced multiple tokens of different types and each has its own importance. BONDLY is a native token while Bondly Collectible Card Game (BCCG) is a collection of various Non-Fungible Token (NFT) tokens.

BONDLY Token

BONDLY Token is a utility token for the Bondly ecosystem. It is an ERC20 token created on the Ethereum blockchain. It is supported natively within the Polkadot ecosystem and Bondchain is listed as a candidate for a parachain slot within Polkadot. The BONDLY Token Generation Event (TGE) took place on December 8, 2020. It has a total supply of 1,000,000,000 BONDLY.

Token Distribution

The total supply of 1billion BONDLY tokens will be distributed as follows.

Bondly Collectible Card Game (BCCG)

BCCG is a fully digital, NFT-based, collectible card game that adds immense utility, educates about Bondly's products, and incentivizes gamers to participate in Bondly ecosystem. Each card in the universe (Bondverse) will be based on one of the Bondly Family Products. Each card will describe the purposes and features of that Bondly product while the art will personify those features. The first set was released on Nov 3, 2020 and 2nd set was introduced November 15, 2020. The BCCG cards are typically categorized as Heroes and Villains.

BCCG Sale

BCCG sale (set 1) went live on November 2 ,2020, UTC-4 (10 AM EST) with 15 unique cards priced at 0.5 ETH per card and 2.5ETH per card for purchasing a set. The sale had total 750 cards on offer. The total BCCG items being sold out within six hours of launch, the launch generated over 375 ETH in trading volume, more than 45,000 social mentions.

These first edition card buyers will receive a free airdrop of $BONDLY tokens, which can be used to cover a total of ten premium tournament entries. On the Token Generation Event (TGE) of the BONDLY token, the wallet holding the card will receive 5k BONDLY (enough for 5 premium tournaments). After 30 days, a snapshot will be taken and whoever is holding the card will receive another 2.5k BONDLY tokens. After an additional 30 days (60 days since TGE), a snapshot will be taken and the holder will receive the final 2.5k BONDLY tokens. BCCG 1st Edition cards allow community members to become VIPs in the BONDLYVERSE, resulting in rewards, access to gaming tournaments, and many other benefits.

BCCG Tournament

The BCCG Tournament includes battles between BCCG Card holders. The game is similar to games like Battle Royale or Last man standing where only one can survive, as the game progresses and becomes a winner eventually. The game has a set amount of players fit into 1v1 ladder brackets. They compete on the basis of BCCG cards and ultimately one emerges as the winner.

The Game framework has the following rules.

1. Each card operates as a pass to enter a tournament ladder system of 6 to 24 participants. The type of card used to enter must be unique compared to other contestants within that tournament .
2. There are two types of tournaments - Free and Premium. The Premium Tournament requires Bondly tokens to participate . The tournament rewards differ by type of tournament.
3. The battle works in a very similar way to ’challenges’ within G-Loot where the outcomes for each game determine the winner. There are no fundamental benefits that one card will provide over another for the tournament, but there will be specific tournaments that will require that you hold a card of a specific set in order to enter (eg “Thriller Tournament”)
4. The rewards for bracket winners will vary and will include (but not be limited to) BONDLY Tokens, partner tokens, Special Edition (Not Available for Purchase) NFT cards, specialty NFT from Bondly partners network and more.

Products & Services

BONDLY Staking

Bondly team announced Bondly token staking service in a partnership with Ferrum Network. It went live on December 9, 2020 with an ultra-customized version of Ferrum’s staking technology. The Bondly Staking platform gives participants the ability to lock their tokens and earn high yields based on the length of time staked. It’s similar to a decentralized high-yield bank account, with maximum customization for projects and flexibility for participants.

Bondly Staking is a customized version and it allows stake not only Bondly token, but also NFT tokens like their BCCG Card Game, and more. Currently, it allows Staking Your BCCG Hero and Villain NFTs.

NFT Rewards

Staking Reward Schematic
In addition to BONDLY rewards, Bondly also gives NFT Rewards for each one of their staking contracts. Through this, the user can win their most rare, exclusive first edition BCCG card “Farzin” from the Isekai series. It is a Hero card and will come with its own utility within the BCCG game and the Bondly product ecosystem. This card will not be sole by Bondly Team. The only way to earn this RARE NFT is through the BONDLY staking program. To Qualify for Farzin Card Airdrop users need to providing 3k BONDLY tokens in any one of the reward pools (staking or a liquidity pool) for the whole two weeks. If the user fulfills this, he /she will be eligible to win one of the 15 Farzin card drops.

Staking Pools

Staking Pools
Bondly has created four types of rewards pools, all with their own unique characteristics.

Liquidity Staking

To perform liquidity staking, the user needs to provide liquidity in BONDLY either paired with ETH or USDT on the Uniswap exchange. Once the user provides liquidity in BONDLY-ETH or BONDLY-USDT, he will get LP pool tokens, that can be staked on Bondly's staking portal to earn rewards in BONDLY.

BONDSwap (BSwap)

BSWAP is a product of the Bondly Protocol that allows users to exchange any token or cryptocurrency to another token/cryptocurrency created on another blockchain. It basically provides an interoperable cross-chain facility, so that users can easily make require trades to maximize their gains.

Generally over the counter (OTC) trades are performed by two parties that wish to exchange one cryptocurrency for another, or with fiat. A Decentralized Exchange (DEX allows for the anonymous exchange of cryptocurrencies, but it is generally limited to tokens operating on the same blockchain, typically Ethereum (e.g. ERC20 Tokens). For DEX, there is a liquidity problem as well. A centralized exchange allows cross-chain swaps, but they are susceptible to regulatory scrutiny and also potential hacks. Bondly is solving these problems through the creation of a Decentralized cross-chain Atomic swap architecture, BONDSwap (BSWAP). It allows parties to perform cryptographically-secured OTC trades of cryptocurrencies running on completely different blockchains. The atomic swaps across blockchains of differing native architecture exist, but these have not scaled similarly with the DeFi movement due to the highly technical and specialized knowledge required. BSWAP provides simplified multi-chain interoperability by implementing Polkadot's relay chain to interact with the other blockchains of differing native architecture through the use of Polkadot’s bridges. It will utilize bridge modules to construct system-level virtual para-chains for non-turing complete blockchains such as Bitcoin, Litecoin, and other Bitcoin forks coins like Bitcoin Cash, etc. These bridge contracts will be implemented for all other compatible chains to enable smart contract interoperability. Using his architecture, Bondly will be aware of the state of two separate chains and perform against an instruction set based on set conditions.

How BSWAP works?

BSwap works similar to Binance OTC Trading Portal but exchange happens directly on the blockchain and can be sent via any chat app using various different blockchains . BSWAP offers wallet to wallet trustless OTC trades that are performed by signing a smart contract. A completely portable smart link can be sent via a chat app or on your favorite social media. It will support all ERC20 Token and NFT (ERC-721) then eventually all the other blockchains will be supported. Using BSwap, the user can perform the following tasks

• Sell a large order of a low liquidity token with no risk of slippage
• Become your own NFT marketplace by minting the token, setting your own price, then post to your social media for your audience to buy
• Buy assets using Debit/Credit card (using third party partner onramp)
• Send smart link in Telegram to someone you know or your favorite group.

On December 15, 2020, Bondly announced on Twitter that they are launching BondSwap on the Binance Smart Chain (BSC).  It was launched on Ethereum, Binance Smart Chain on January 4, 2020, and also on the Huobi ECO chain.

It is similar to the Uniswap model but has some improvements like private pools and Non-Fungible Token (NFT) swap support etc.  Bswap portal has four sections on the swapping portal.

Swap

The users can use the swapping portal using MetaMask or WalletConnect. The users can initiate swap by going to the swap section and they can manually define who can participate in their swap. There is also a provision to decide the timeframe for the swap. You can also decide whether to keep the swap ratio fixed or floating which lets you determine how many tokens you want to receive in return when someone wants to complete the trade. After initiating the swap, you can share a link to any individual or group, so they can participate in the trade to buy your tokens. Private swap gives the option to limit the swap to the participants you want to trade with by entering their wallet address while initiating the swap.

Pools

Pools section lists Public and Private OTC trades. Public pools list all the OTC trades that people have initiated on the Bswap. You can participate and complete trade if you are interested. Always verify the contract address (on Etherscan, CoinGecko etc.) of the token you want to receive. Private swaps are marked as close to differentiate from public trades.

Bondly Centre

Bondly Centre shows two options mining and staking and it takes to Bondly homepage and Staking portal, where you can join pools to earn Bondly tokens by providing liquidity or by staking Bondly token itself.

Showcase

This is a section, where the users can display their NFT and also will be able trade. It is yet to be launched.

BOND DEX

Bondly DEX provides a fully decentralized exchange that is blockchain agnostic. The users can anonymously swap cryptocurrencies operating on different blockchains seamlessly, by leveraging the BSWAP architecture operating on the Bondly Protocol.

The BOND DEX will be similar to Uniswap and Mooniswap but includes rewards token provided to Liquidity Providers (LPs) on top of fee share . It requires liquidity provider (LP) participants to pool assets for a portion of the transaction fees along with rewards Annual percentage yield (APY) rewards. It will feature liquidity pools that are pegged to their corresponding market values using our Automated liquid engine. Liquidity pool smart contracts will get market prices through our Oracle service partners such as DOS Network and Chainlink. The Bondly Protocol has the ability to instruct the BOND DEX hot wallets on non-turing complete blockchains to lock or release funds while providing a corresponding instruction to smart contract supported blockchains. Initial support for Distributed Ledgers that do not have a globally defined state or transactions such as IOTA or Nano will be limited. The biggest advantage of BOND De will be an innovative approach to the current DeFi token swapping model by offering pairs not currently supported by existing DeFi projects, such as native BTC/ETH pairs without using a wrapped ERC-20 bitcoin derivative (like Wrapped Bitcoin (WBTC)). The Bond will be available to access using Web3 wallets like MetaMask or Polkadot.js-based native wallet. The users can do the following trades on the Bondly DEX.

• Trade native assets on Polkadot with USDC on Ethereum .
• Get recommendations on the cheapest bridge transaction path .
• Create your own asset pairs that otherwise might not exist.

BONDProtect (BProtect)

BondProtect is a smart contract-based marketplace payment platform designed to make the buying and selling of any good or service easy and protected. It can also be described as a blockchain-based decentralized escrow and buyer protection for customers of crypto-friendly marketplaces.

The Bondly team feels it is the most revolutionary product that will have the largest impact on the E-commerce market. It will work similar to PayPal/Alipay- AliExpress Buyer Protection combined with Escrow.com with a simple UI similar to DeFi assets and liability management portals, Zapper.fi or Zircon .

BProtect offers a more robust set of capabilities that include escrow, recurring payments, and payment protection. It can be used by an individual merchant to sell digital products using the BProtect GUI or integrated into any online marketplace as a payment method comparable to other online services like Paypal and Stripe. The BProtect focuses on the purchase, sale or trade, and transfer of digital assets including cryptocurrencies, non-fungible tokens (NFT), and more. This enables a marketplace for selling things like making OTC deals with assets not on hand, monthly subscription services, and high-priced digital goods easier for any merchant to sell and safer for both sides. It is powered by the same base Polkadot technical architecture and so all bridged infrastructure assets would be available for use including all BSWAP cryptocurrencies.

BProtect is also designed to be used by existing marketplaces as a third-party integration service packaged as an SDK. It will enable existing marketplaces to easily integrate BProtect as a part of their infrastructure and set their own deal fees without having to maintain custody of cryptocurrency themselves, with a much lower fee to the buyers when compared to currently used payment options.

NFTSwap

NFTSwap is a trustless OTC trade (over-the-counter) process allowing users to send and receive Non-Fungible Tokens (NFTs) using Bondly’s core product, BondSwap. Users will be able to plug in their NFTs via several wallets: MetaMask, WalletConnect, and Arkane wallet. With NFTSwap, users will be able to list their NFTs for sale or trade, directly to another user. NFTSwap also allows to trade NFT(s) for NFT(s) , NFT(s) for crypto and even NFT(s) for ‘NFT(s) + crypto’. NFTSwap is currently available on Ethereum, and Binance Smart Chain, and Polygon (formerly Matic Network).

Partnerships

Bondly has partnered with many top blockchain projects like DOS Network, Ferrum Network, Mantra DAO, Phala Network, and Chainlink. Recently Bondly announced a partnership with IOHK. As part of the partnership, Bondly will become Cardano’s first go-to DeFi platform.

PolkaPets

In January 2021, Bondly joined the World of PolkaPets with BondProtect. PolkaPets is an NFT Collectible Card Game where each PolkaPet, embodied as an artistic creature, represents a specific project within the PolkaPet ecosystem. The abilities, behaviors, and strengths of this creature are connected to the specific vision of the Polkadot project of which that creature represents.

BondProtect is very protective of its loved ones. They feel responsible for the well-being of their community. Valuing safety and security, BondProtect will do everything in its power to protect its home in a calm and collected manner. BondProtect has a slender build and a long wispy tail and wings that allow it to fly as well as swim. They do not bode well in forest-like environments.

BondProtect PolkaPet NFT card was released on January 29, 2021, on BondSwap and OpenSea. This NFT had only 800 prints available for a limited-time sale, and another 400 prints were saved for future Bondly promotions. Each card cost 0.15 Ethereum (ETH) and could also be purchased with $BONDLY tokens.

Logan Paul NFT Sale

In February 2021, the popular YouTuber Logan Paul launched his line of Non-Fungible Tokens (NFTs) in collaboration with Bondly Finance. His NFTs are part of a promotion to win 1st edition Pokemon packs in a special giveaway. Three winners will be able to go to California to take part in a live unboxing of the packs on February 27. The prize also includes express PSA grading of the cards, and an NFT minted especially for the pack winners. Entry in the giveaway requires the purchase of Logan Paul NFTs via the BondSwap Market. The cost is 1ETH per NFT. The sale opened on February 19 and will run until February 27 with unsold items being burned.

On February 20, the Bondly team announced that Logan Paul 's 1st NFT sale sold over $1,000,000 in under 30 minutes. In total, on the first day of release, Paul sold $3.5 million worth of non-fungible tokens (1,772 NFTs sold).   In two days, sales climbed to $5 million, with a total of 2,586 NFTs sold.

PelleK’s NFT Album

In February 2021, Bondly partnered with PelleK, a world-famous singer, songwriter, and actor. PelleK sold out his first unique digital collectible through Bondly’s core product, Bondswap. He released a digital version of his new album that sold out in less than 2 hours, generating $160,000. Selling at 0.4 ETH each, there were a total of 200 albums minted for the sale, which sold out at the presale level in under two minutes. The rest of the albums were put up for public sale and sold out within 2 hours.

keyTango

In March 2021, Bondly partnered with keyTango, a platform for retail investors to discover and invest in deep DeFi (Decentralized Finance) products such as yield farming and liquidity pools, to release a Non-Fungible Token (NFT) collection. keyTango’s NFT is an inclusion within the Bondly Collectable Card Game/BCCG. This release is a new addition of characters and utility into our BCCG universe. Owners of BCCG NFT cards receive functional utilities within the Bondly platform (eg: no fees in Bondly apps and services, and including access to VIP chat). KeyTango NFT holders also have specialized utilities set by the company.

Tory Lanez NFTs

On March 4, 2021, multi-platinum recording artist Tory Lanez dropped 3 unreleased songs as NFT’s, powered by Bondly Finance. Each of these Non-Fungible Tokens (NFTs) gives exclusive access to his unreleased music and ownership of unique art before it’s shared with the world.  The Tory Lanez NFT’s generated more than $400,000 in initial gross sales and resales. The NFT’s sold were collected by more than 300 of the artist’s most loyal fans, each of whom purchased artwork paired with one of three tracks, including “Lady of Neptune,” “Distance,” and “Y.D.L.R.” Fans who collected all three exclusive tracks/artwork gained access to special perks directly from Tory. These perks include an exclusive virtual meet and greet with Tory Lanez, an extra airdrop of an unreleased Tory Lanez track, as well as merchandise signed by the artist.

Atari

In March 2021, Atari and Bondly announced a partnership to launch dedicated NFTs followed by the Atari Metaverse Gaming Platform. NFTs will be available for purchase using Atari ($ATRI) and Bondly ($BONDLY) native cryptocurrencies, and major cryptocurrencies.

Polygon

In March 2021, Bondly announced its partnership with Polygon (formerly Matic Network). The partnership will help both platforms to make Non-Fungible Token (NFT) minting, swapping, and selling cheaper and make digital collectibles accessible to non-crypto native users. With an active community of NFT collectors already established on Polygon, Polygon community members will be able to farm exclusive NFTs on the SuperFarm platform that'll have utility within AAA Video Games and more. This will enable Polygon holders to farm exclusive NFTs without inflating the circulating supply. Additionally, Bondly and Polygon will also set up a fund to contribute to offsetting the carbon footprint as a result of NFT minting.

Globe Photos

In March 2021, Bondly partnered with Globe Photos, the owner of several historic archives of iconic images from the 1930’s era to the present day. Bondly’s role in the partnership was to mint and release some of the company’s rarest and most iconic images as Non-Fungible Tokens (NFTs). These include images of Marilyn Monroe, Frank Sinatra, and Elizabeth Taylor taken by Frank Worth. The release includes 3 tiers and each tier has a set of photos. Each of these sets of photos has a story attached to it that describes the particular moment in time that led up to the iconic photograph. These stories capture the essence of the times and storyline of the celebrity along with the photographer’s life journey. Tier 1 is called Frank Worth Collection, Tier 2 is called Unique Contemporary and Pop Art and includes the Dali Dollar, Bitcoin, Elvis Presley, Marilyn Monroe, and Frank Sinatra by Thomas Hussung and Nicholas Miller. In the final tier, Bondly presented an Andy Warhol-inspired piece as well as two randomly selected works of art. Andy Warhol-Inspired Bondly Token is Thomas Hussung’s take on how Warhol would have painted the Bondly logo. It represents Andy’s famous Dollar ($) Sign paintings.

In April, Bondly and Globe Photos teamed up with Richard Branson’s Charity to donate a 1 of 1 Frank Sinatra NFT to help raise both funds and awareness for his Inspiring Children Foundation. The auction will be held during the famous celebrity tennis tournament on Necker Island.

Lewis Capaldi NFTs

In March 2021, Bondly Finance announced that they teamed with the Brit Awards winner Lewis Capaldi to launch the songwriter's own collectible card experience via NFTs in April. Card owners will be able to claim a private, intimate in-person event in 2022, while the collection is in partnership with Nordoff Robbins Music Therapy Charity. Lewis Capaldi commented:

“I’m absolutely buzzing to be launching these trading cards with the incredible team over at Bondly.”

“This has been something I’ve been really excited about for a while & have been working on the game behind the scenes so it’s great to be able to finally announce this to everyone! Can’t wait to be giving a small preview of what’s coming up to a few of ya early next year! x”

The Serouno Group

In April 2021, Bondly partnered with The Serouno Group, Liga MX’s official licensee for their digital fan engagement platforms, to launch Liga MX’s Non-Fungible Token (NFT) Collection in 2021. The Liga MX NFTs will be used in their digital universe, offering fans additional perks and interactive experiences. Liga MX NFTs will be launched through an online marketplace powered by Bondly in the official Liga MX fan engagement app. The Liga MX NFT launch is supposed to be aligned with the start of the league’s 21/’22 campaign.

6ix9ine NFTs

In April 2021, Bondly partnered with Teka$hi69 (6ix9ine) to release his limited NFT drop. On April 9, 2021, Tekashi 6ix9ine dropped two unique 3d animated NFT collectible art pieces which integrated snippets from his Billboard charting Tattletales and Dummy Boy album. Additionally, only 125 versions of 3 separate NFT’s were released at a lower price point making it more affordable for his fanbase and NFT purchasers.

Auction

The auction featured two unique 3D animated NFT collectible art pieces which integrate snippets from his Billboard charting albums. Each NFT was only be created once and gave buyers unique perks: winners received physical canvas pieces of the art ; Recording Industry Association of America certified plaque with NFT associated, with name engraved into the plaque and Virtual World Integrations with Atari Metaverse and Other Virtual Worlds.

First up, a 1 of 1 3D animated music auction art piece “Dumb, Stupid or Dumb” integrates with his hit single “GOOBA” from his Tattletales album. Second, a 1 of 1 3D animated music auction art piece “Shark Never Sleeps” integrates with another hit single“TUTU” from his Tattletales album.

NFT Sale

The sale featured 3 unique 6ix9ine single covers. Each NFT had a limited quantity and is paired with a clip from one of 6ix9ine’s famous releases. The sales were divided into two tiers, a gold and silver tier. Each tier had its own unique utilities. The silver tier had a reduced price point to help allow access to more fans to purchase the NFTs.  If a user collected all 3 Gold NFTs, they would receive 750 $BONDLY tokens (worth approximately $325). If a user collects all 3 Silver NFTs, they would receive 300 $BONDLY tokens (worth approximately $150.00).

Funding

In April 2021, Bondly Finance secured investment under the $100 million fund set up to boost the DeFi (Decentralized Finance) ecosystem on Binance Smart Chain. The dual-chain architecture technology will allow users to access fast trading on Binance Smart Chain, while powerful dApps can make use of the smart chain’s flexibility. Brandon Smith, the CEO of Bondly Finance, said:

“We are honored and excited to join the Binance ecosystem. As leaders in the space, Binance has continually shown that consistency and a long term vision are the keys to becoming a leader in the space. With Binance’s investment and guidance, we aim to take Bondly to the next level and deliver strong products to the DeFi/NFT ecosystem.”

Team

Advisors

• Angela Tong - Jinse Finance
• Rob Tran
• Dan Friedman - IOHK/Cardano
• Nicholas Davies - EY PARTHENON