Introducing Bondly…

For us who use Decentralized Finance (DeFi) as a common term, we know it represents an enormous shift in how we transact with one another: borrowing money, exchanging currencies, how we view insurance, etc. While total assets involved in DeFi still seem to be increasing right now, there are various factors that will prevent us from growing further.

DeFi’s largest barriers for adoption

Interoperability — Right now Ethereum gas fees seem like they are always increasing and ETH 2.0 may still be 6 months or more away. We need the ability to make DeFi more accessible to individuals who can’t afford high gas prices per transaction and start including native blockchain assets that are stranded on other platforms.

Trust — Unfortunately our biggest issue is still trust. While none of us in crypto expect to know the identity of the other party, many of us just send funds to people we don’t know for vague promises of more wealth. In fact, the biggest type of fraud is still the “giveaway scam” which asks offer to send something back — but its only an offer, there is no guarantee. This is totally unsustainable.

What about doing business outside of crypto?

Ultimately, DeFi doesn’t keep going unless we create methods for non-crypto native businesses to integrate. While the community might approve sending crypto to each other without a safety in place, this will never work for 99% of online marketplaces.

So we need:

  • DeFi options on lower cost platforms

This is why we created Bondly.

Bondly is a brainchild of over 3 years of working in fintech digital escrow payments + love for native DeFi. Adding our cumulative 13 years of traditional financial services, 6 years of eCommerce marketing, 4 years of Ethereum blockchain development, we think this will be one of the most important next steps in DeFi.

What is Bondly?

Bondly is a trusted, transparent and portable swap protocol designed to make you into a marketplace.

Our family of trust-enabling, DeFi products are designed to be a part of your everyday buying and selling activities, giving you piece of mind for your next swap or online purchase.

BONDSWAP (BSWAP)

Similar to Binance OTC Trading Portal but directly on-chain and can be sent via any chat app using different blockchains

Wallet to Wallet trustless Over the Counter (OTC) trades that are performed by signing a smart contract. Completely portable smart link can be sent via a chat app or on your favorite social media. It will first support all ERC-20 tokens and NFT (Ethereum) then eventually

With BSWAP you can:

  • Sell a large order of a low liquidity token with no risk of slippage

BOND DEX

Similar to Mooniswap but includes rewards token provided to Liquidity Providers on top of fee share

Interoperable Decentralized Exchange (DEX) thats easy to use and blockchain agnostic. Requires liquidity provider (LP) participants to pool assets for a portion of transaction fees along with rewards APY rewards. Our pricing engine will compare major cross chain swap options and will let you know the best one to use (even if its not us). Validation is done directly within your Web3 browser (with Metamask) or polkadot.js based Native Wallet.

With BOND DEX you can:

  • Trade native assets on Polkadot with USDC on Ethereum

BOND PROTECT (BPROTECT)

Similar to Paypal/AliPay Express Buyer Protection combined with Escrow.com with a simple UX like Zapper.fi or Zircon

This is our most revolutionary product that we feel will have the largest impact to the eCommerce market.

PROTECT is decentralized escrow and buyer protection for customers of crypto friendly marketplaces.

  • Designed to replace all site specific crypto escrow products with an easy to use API and completely smart contract driven product. Marketplaces may still be in a ‘validator’ role for the marketplace transaction but now they don’t have direct access to funds. This mitigates misappropriation by the marketplace along with exit scamming

With BPROTECT you can

  • Give more trust to your buyers that you will provide the purchased asset in a timely fashion

How does BOND PROTECT work?

For individual OTC Trades:

  • Seller stakes collateral and ensures the buyer will receive asset by a specified date or with a specific condition

For Marketplace Vendors:

  • Vendors stake collateral (earning staking rewards for doing so)

Bonding with Polkadot

As our ‘sibling’ projects Darwinia and Bifrost have realized, Polkadot and using Substrate represents a phenomenal step forward in interoperability.

It offers:

  • Total flexibility for building a cross asset non-custodial token bridge

We don’t have Digital Money without Bitcoin; We don’t have Smart Contracts and DeFi without Ethereum; We don’t have true interoperability without Polkadot and Substrate.

In a future article we will talk more about our Kusama testnet release.

Whats next for BONDLY?

BONDSWAP for Ethereum, the first formal product release, will be available soon (so hold off on your OTC transaction until then). This will include support for the Bondly staking program. Detailed roadmaps for the other products will be announced soon!

In the meantime we will be making additional articles (but not limited to) the following topics:

  • Our first BPROTECT marketplace customers

Please join our community and sign up for the alpha! We are so excited to share more with you soon!

Web:
https://www.bondly.finance/

Twitter:
https://twitter.com/BondlyFinance

Telegram:
t.me/bondlyfinance

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Forj.network

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