From tomorrow, June 5th, the new $BONDLY rewards platform will be launched on Ethereum to reward our community for their loyalty, and in this article we break down everything you need to know to make the most of your chance to earn rewards in $BONDLY token in our FAQ.
We’re asking all current holders in our old rewards pools to remove their $BONDLY and recommit it to the new platform pool, and as a special incentive we’re offering DOUBLE rewards for the first 3 months of the new rewards pool, so be quick!
New Rewards Pool FAQ
What is the new $BONDLY Rewards Platform?
Designed to provide a smoother and more simple way to earn $BONDLY for loyal holders, the new rewards platform will replace the current rewards pools on both BNB chain and Ethereum, and will also see the end of the xBONDLY token.
What is xBONDLY?
xBONDLY is a synthetic token that was designed originally to provide a means of offering holders more versatility and liquidity while committing $BONDLY to our rewards pools. The token would accrue value against $BONDLY over time, however for this reason calculations for xBONDLY were complex for users to understand. With the increasing ratio of $BONDLY per xBONDLY it was difficult to calculate how much $BONDLY you had earned through locking it in our rewards platform, and also how much $BONDLY you would require to convert into xBONDLY for one of our Forj Launchpad sales.
What’s Happening to xBONDLY?
We’re ending support for xBONDLY to simplify the rewards platform. Once users have released their funds from our current rewards pool, their xBONDLY will convert to $BONDLY permanently.
The new loyalty rewards pool simply rewards participants in $BONDLY, for any $BONDLY committed to the smart contract via the platform.
Are Rewards only Available on Ethereum?
For now, yes. As previously announced, we are ending support for BNB chain (previous BSC), and those currently committed to the BNB pool will have their tokens airdropped to them on Ethereum (see below for details).
What’s Happening to the BNB (formerly BSC) Rewards Pool?
Our support for $BONDLY on the BNB chain is currently limited, with BNB $BONDLY holders unable to access a working bridge for $BONDLY to other chains from BNB, and also limited liquidity.
What’s more, the BNB rewards pool has suffered technical difficulties due to legacy code, and we believe it’s unfair to make holders wait to remove their $BONDLY and rewards.
For this reason we’ve decided that all $BONDLY holders who have $BONDLY currently committed to the BNB pool will be airdropped their initial $BONDLY and all accrued rewards (also in $BONDLY) on the Ethereum chain, ready for the new rewards platform.
This means by the time the new platform is live you’ll have all of your $BONDLY in your wallets, on Ethereum, ready to commit to the new rewards pool!
If you need help finding your Ethereum tokens, please reach out to our community team on Telegram or Discord.
What’s Happening to the Old $BONDLY Rewards Platform on Ethereum?
The old Ethereum rewards platform will remain live, however to continue receiving rewards in the long term all users will eventually need to remove their $BONDLY and commit it to the new rewards pool.
What Rewards Can I Earn?
The loyalty rewards offered in the rewards pool are dynamic, so the more users there are who have committed their $BONDLY, the lower the APR%. On average we expect around 20% APR once all users have moved from the V1 platform to the V2, BUT for the first 3 months there will be DOUBLE the rewards.
This means ‘early birds’ will get the most $BONDLY rewards!
Where can I find the new $BONDLY Rewards Platform?
Head to dapp.forj.network to get started now.
Where will the OLD $BONDLY rewards Platform live?
You can navigate to the old platform via the top menu on the new DApp, or at staking.forj.network.
ABOUT FORJ
A subsidiary of Animoca Brands, Forj delivers leading Web3 products and technologies that create unique fan experiences for creators. A truly end-to-end solution, Forj is the next frontier of fan engagement through its use of NFTs, metaverse protocols, and blockchain tech to bring fans closer to their favorite creator brands in Music, Entertainment, Gaming and beyond. With major partnerships including influencer Logan Paul, Grammy-nominated musician Lewis Capaldi, and leading creator platform Spring, Forj has an enviable track-record of success in the sector.
Forj-owned brands include metaverse infrastructure project Metaprints and leading GameFi project PolkaPets.
