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0xRafi

14 Feb, 22 tweets, 7 min read

@BondlyFinance

1/ Here is another potential game-changing project that I am very bullish on: $BONDLY / bondly.finance (@BondlyFinance).
There is A LOT to say about $BONDLY, and each part of its offering (OTC swaps, DEX, NFT Launchpad, ecommerce gateways) could be a thread of its own!

2/ But the best way to summarise it would be to say that $BONDLY aims to address a simple but major issue, which is that OTC selling / trading of digital goods (crypto, NFTs, gaming items, social media accounts…), has always needed a trusted 3rd party to act as an intermediary.

3/ This 3rd party can range from being a helpful admin of a coin’s TG group, to the pro crypto OTC desks. But they all have 2 things in common: 1) you need to trust them and 2) they ALWAYS take a meaty fee.

4/Bondly addresses this by offering trustless OTC trading for digital goods across multiple chains w/ automated escrow, using Polkadot as a backbone. It'll also include solutions for recurring payments, collateral posting & evaluation periods for verification of digital goods etc

@Tesla

5/ On the OTC trading side, retail may not use it, but this is a huge business that moves tens of billions in volume per day. It is very unlikely @Tesla bought their bitcoin through @Binance. $BONDLY aims to address this market through its first product, BSWAP.

@Polkadot

6/ BSWAP offers a decentralized OTC swap architecture that will work on multiple chains (Ethereum, bitcoin, binance chain, cardano…) by implementing @Polkadot’s relay chain to listen in on different blockchains through the use of Polkadot’s bridges.

7/So in an ETH/BTC OTC trade, the 2 parties send funds to BTC & ETH addresses designated by BSWAP. Only after reception of funds is confirmed on both sides through the relay chain will payment be released for each party, with guaranteed price execution and no risk of slippage

8/This can be done through Bondly’s web-platform or mobile app, and proposed OTC trades can also be shared through a simple link. So for eg an artist selling an NFT can simply share the link to the proposed OTC sale on their website, and buyers will be able to click and purchase

9/ Bondly will also support swapping using liquidity pools through Bond DEX, so it will basically be a multichain alternative to Uniswap, another major potential use case! Think, swapping ETH for BTC without the need to go through WBTC or similar wrapped tokens.

@PayPal

10/ But Bondly’s flagship product is BProtect. BProtect will offer all the OTC trade features mentioned above to eCommerce market places and independent creators as a 3rd party module in their existing websites, in the same manner as @PayPal or @stripe

11/ The potential market for this product could be huge, as we can imagine most of the existing eCommerce platforms will eventually look for solutions to integrate secure crypto payments (with buyer protection) into their online offers.

12/Last but not least, Bondly has a strong focus on applying these solutions to the booming NFT market, including major partnerships for releasing NFT goods through Bondly’s platform, and a Bondly Collectible Card Game (BCCG) to incentivize gamers to participate in the ecosystem

13/ Bondly’s NFT LaunchPad was also launched to help improve other project’s visibility through the release of custom NFT tokens. For instance, a project can release an NFT that users need to hold to participate in their token sale, or that offers improved staking benefits.

14/ Now let’s talk tokens. $BONDLY is the platform’s utility token, which will offer fee reductions and staking rewards (including a share of platform revenues), and that will need to be staked as collateral by merchants using BProtect and projects on the NFT Launchpad.

15/ This could create major buying pressure as the product grows its adoption among merchants, while providing the added incentive that tokens posted as collateral will also earn a share of the platform’s revenues as staking rewards.

16/ Max supply is 984M, w/ 22.3% allocated to seed/private/public sales, 17% for team and advisors (1yr full lock + 1yr vesting), 18.6% for ecosystem development (36m vesting), 40% for staking/liquidity mining & 0.5% for initial DEX liquidity. Current circulating supply is 104M.

17/ Bondly’s market cap is $55M (@ current price of $0.56) and while there aren’t really other projects offering the same products, the valuations of successful DEXs and NFT trading platforms should be a good indication of what the MCap could reach

18/ The TGE, public sale + launch of staking took place on Dec 8th (public sale price: $0.025). BSWAP is currently live on Ethereum, Binance smart chain, and Huobi chain, although cross chain interoperability is not yet live and more chains will be added in time.

@chainlink

19/ The number of partnerships already announced is huge and could also fill a whole thread, but they include @chainlink, Mantra DAO, Cardano, DOS Network, Darwina, a number of projects on NFT launchpad, and even @LoganPaul releasing Limited Edition NFTs through Bondly

@Bondly

20/ The team, led by CEO Brandon Smith, have a cumulative 13 yrs of experience in traditional financial services, 6 yrs of eCommerce marketing and 4 yrs of Ethereum development. @Bondly’s smart contracts were audited by @zokyo_io with a 98/100 score.

21/ So there you go guys, whether we see $Bondly as the product to put OTC desks out of business, as a multichain competitor to #Uniswap, or as the future standard for implementing secure crypto payments in traditional eCommerce websites, Bondly’s potential is clear