Bonded Cooperation With NEM and Symbol
NEM is a titan in crypto and has perennially been among the top 25 projects in the space. We at Bonded connected with them a few months ago and feel fortunate to have learned about their launching of the Symbol Blockchain, their new enterprise solution. Symbol uses a layered architecture and plugin framework to allow pre-configured smart contract functionality with much higher performance and lower cost than alternatives.
For the past two months, the Bonded Finance team has maintained close contact with the development of the Symbol platform which was “…developed to specifically build the connection between business and blockchain.” This represents an upgrade in flexibility, speed, ease of use and security over the NEM NIS1 Platform.
In our ongoing discussions, Bonded worked with the NEM and Symbol teams in determining how they could best resonate with an enterprise audience and engage a commercial strategy, that intends to complement both projects. The new platform and brand will help establish Symbol as a credible, reliable and trustworthy offer in the enterprise landscape and provide a platform for the community to continue to grow and evolve with us.
With their upcoming launch, and heading into 2021, we felt it was a good time to announce our communications and cooperation together.
Bonded believes that commercial viability should be one of the fundamental underpinnings of any blockchain endeavor and the days of a “token for token’s sake,” are long past. New monies will continue to evolve but an open and connected economy is where the global shifts take place. This is both a philosophy and practice. Symbol as a brand icon “represents openness, collaboration, working together. It represents value and strength of collaboration, and powering possibility…bringing business and blockchain together to create value.”
Given our aligned values and shared ethos, and in the name of further cooperations, Bonded will endeavor to offer Wrapped XEM (stXEM) and Symbol (XYM) holders with:
- Access to our loan protocol, Ionic
- Opportunity to loan and borrow the XYM and stXEM tokens
- Capital resources
- Increased utility — earning potential in upcoming products
- An opportunity to earn as you HODL
- Drive demand by removing tokens from circulation
- Ability to earn liquidity incentives and BOND tokens
As a step, this requires both teams to embrace a blockchain agnostic approach and our collective goal of true blockchain interoperability. This will be required for the token to be used as collateral in our smart contracts.
The infrastructure building, streamlining and scaling that is taking place in blockchain today is the foundation for genuine adoption and inclusive finance. Technologies are now demonstrating earning power, creating opportunities and lowering the threshold for entry into mass enterprise.
The Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven, financial instruments that push the bounds of open finance. Bonding is an algorithmic model that aims to unlock, aggregate and de-risk ~50 billion in dormant value distributed amongst untapped digital assets by allowing supporters of qualifying altcoin projects the opportunity to borrow against these assets or pool them and start earning.