Bondly Fundamental Analysis

Trust is the most common problem of online marketplaces that trade digital goods and services in exchange for cryptocurrency. It can be seen that current crypto solutions are targeting only at the point of sale whereas they are not addressing the security issues while trading.

Traditional marketplace providers can manage the sale of physical items but still need to solve the simple exchange of digital goods. This issue becomes a larger market gap for the exchange of digital goods and services using cryptocurrencies.

Now, bondly has filled this gap of crypto-markets through the creation of decentralized financial (DeFi) applications that are powered by a cross-chain swap architecture and novel token-powered escrow platform.

What is Bondly?

Bondly Finance was founded by Brandon Smith who tries to make decentralized finance (DeFi) more accessible to everyday users via decentralized escrow payments and traditional marketplaces. It has considered being a trusted, transparent, and portable swap protocol that is intended to make a user into a marketplace.

The Bondly protocol was launched on Polkadot (DOT) that offers an ecosystem of decentralized products that will allow peer-to-peer digital payments. It can also be used by any messaging service or social media.

What makes Bondly Different?

Now the complex and frustrating crypto-market problems are resolved by bondly. Users were experiencing $2.28B fraudulent orders without proper escrow. Another basic issue was a 20%+ workload on repeated manual escrow.

Now the next generation of payments infrastructure is composed for the selling of digital businesses and assets. Bondly has introduced a seamless escrow between buyer and seller. Users can even have recurring payments for deals with long-term vesting options.

What does Bondly Offer?

BONDSWAP (BSWAP)

The core product of Bondly is BondSwap that gives wallet-to-wallet over-the-counter (OTC) trades that are completed by signing a smart contract. It supports portable smart links and ERC-20 tokens. However, these links can be sent via messaging apps or social media. Users can benefit from BondSwap as it sells large orders of low liquidity tokens with no risk of slippage. BondSwap offers to buy assets with credit or debit cards via a third-party partner.

BOND DEX

By using Bond Dex users can trade native assets on Polkadot with USDC on Ethereum and proffer instructions on the most affordable bridge transaction paths.

BOND PROTECT (BPROTECT)

One of the great products that Bondly has designed is Bond Protect (BPROTECT for the eCommerce market. It works as a decentralized escrow and buyer protection system for consumers in crypto-friendly markets. It facilitates trading assets that users do not yet have through OTC by staking collateral in the crypto network.

For over-the-counter transactions, involve a minimum of two parties and usually need a lot of trust between the participants. While talking about a seller, he can stake collateral and assure that the buyer will get an asset by a particularized date or on a specified condition; if the contract is profaned, the collateral is forfeited and shifted to the buyer.

Bondly Tokenomics

There are five (5) separate tranches for bondly community bonding each with particular percentage allocations, token values, and vesting schedules as per the following. Each round of bonding is capped to a maximum number of tokens. The Contributions will be accepted by several platforms (Polkadot) DOT, stablecoin, and major cryptocurrencies.

BONDLY token is a utility token for the Bondly ecosystem. It is an ERC20 token created on the Ethereum blockchain with a total supply of 1 billion. The total supply of 1 billion BONDLY tokens will be distributed as follows:

• Community Bonding 22.26%

• Rewards for staking and liquidity providers 40%

• Bondly Ecosystem (vested over 36 months) 18.6%

• Founders, Team, Advisors 17%

• Liquidity Pools and DEX 0.5%

• Burned 1.64%

BONDLY collectible card game (BCCG)

BCCG is one of the most pleasing options for users that is a fully digital, NFT based, collectible card game for adding immense utility, teaches about the product family, and incentivizes gamers to engage in the ecosystem. The approximate number of 7,500,500 (0.75%) BONDLY tokens will be allocated towards rewards for BCCG holders.

BONDLY Staking

BONDLY can also be obtained by secondary market purchases or token staking programs. 400,000,000 (40% of total supply) tokens will be held for rewards to BONDLY token stakers.

Partnerships

Bondly announced a partnership with IOHK by which Bondly will become Cardano’s first go-to DeFi platform. Apart from that Bondly partnered with various blockchain projects like Chainlink, DOS Network, Ferrum Network, and Mantra DAO.

The Takeaway

Bondly has gone one step further to solve the trust issues faced by people while buying and selling online through the Escrow feature. Apart from that their multiple ranges of products makes the project looks promising for the long term.