Bonded’s mission is to develop and deploy financial instruments that offer sustainable yields and push the bounds of open finance. With some ~50 billion USD in latent value distributed amongst alternative digital assets, we believe that supporters of so many of these projects deserve the opportunity to earn on their holdings. The Bond token represents governance but more importantly, the opportunity to earn via network fees, liquidation events, loan payouts and more.
Please note that we are frequently updating our channels of communication as we near launch.
Regarding the metrics, let us commence with some of the basics.
Total Supply: 1,000,000,000
Initial Circulating Supply following our public sale: 325,000,000
- Private Sale I: 20%
- Liquidity Mining/Staking Rewards: 20%
- Treasury: 20%
- Public Sale: 13%
- Advisors: 10%
- Team: 10%
- Seed Round: 5%
- Private Sale II: 2%
- Public Sale November 15th: 130m Bond
Date: November 15th-22th 2020 — hour of sale still TBA
Tranch Size: 5,000,000 tokens per block
Price Delta Per Block: .0016 USDC and Ethereum equivalent**
Start Price: USD $0.03 cents per token
End Price: USD $0.049 cents per token
Currencies: WETH and USDC
- *An additional article is forthcoming regarding particulars of the sale.
- **Ethereum price to be determined on November 15th.
- Should it not sell out, tokens will be reclaimed
Seed: 50% lock for 30 days
Private Sale 1: 50% lock for 30 days
Private Sale 2: No Lock
Public Sale: No lock
1. Seed Round
Five percent of the supply was dedicated to the seed round. These are some of our longstanding supporters and strategic alliances that we would deem “smart money” who were willing to contribute early. Their commitment and backing speaks to our shared vision for the project. The allocated 50m tokens represent five percent of the total supply.
- 50m tokens at .005 USD
2. Private Rounds
We allocated a larger portion of BOND tokens to two private rounds, totaling 22% of the supply. The rationale was simple — to attract commercial support that can help us achieve the long-term vision of the project while generating multi-national visibility.
- Private Round 1— 200m tokens at .008 USD
- Private Round 2— 20m tokens at .02 USD
3. Public Sale
Thirteen percent of the total supply is dedicated to the public sale. Actual and real distribution of the supply is important to our end goal of full decentralization and realizing measurable token value. The approach is to nurture and develop the project while allowing it to organically shift from a privately developed idea to a public domain entity.
Circulating Vs. Total:
For quite some time now, projects have intentionally released a small portion of their supply in order to capitalize on the opportunity to establish a higher USD price while keeping their stated market cap deceivingly low. The hope is to create something of an illusion via an artificially low market cap in order to sell tokens at what can only be described as an inflated price. The low initial supply is typically followed by vesting tokens being released which marks an exit for expectant traders while often blindsiding a supportive community. Regardless, the result for token holders is always the same; price drops or at best, stagnates. Artificial demand by way of artificial scarcity is misleading. It is disappointing to see any number of higher profile projects engaging in this practice.
One of the compelling things about decentralized finance is that potential can be speculated upon by the locking of value, the quality of the partnerships and the performance of the product. Bonded believes that a supply should be reflective of the total value of the token, not based on an ever-changing number that those in charge attempt to obfuscate. There are few exceptions and supporting this practice has led to the downfall and loss of interest of numerous projects.
Bonded wishes to avoid this practice for myriad reasons and chief among them is the notion that decentralized finance should be decentralized. While we are a group devoted to a cause, it is ultimately our aim to relinquish control. Considering that our protocols are built for a decentralized community, then it would stand to reason that we would like our total supply to be “in the wild,” so to speak.
The counterargument that supplies should be released in accordance with demand is frankly, bunk and has historically proven to be nothing more than an excuse and a thin counter to accusations of manipulation. There is merit in having an emission schedule for rewards so as to be inclusive and of course, there is human nature to consider when it comes to team vesting. Outside of this, the Bonded token intends to realize its value, both speculative and calculable, by way of the project itself and not by gamify-ing the supply.
1. Team Vesting Schedule:
- 6-month lock
- Distributed monthly in 1/12 increments monthly over a year
2. Staking & LP Rewards:
To jumpstart awareness, incentivize a large demographic of liquidity providers and distribute the token by way of attraction, our rewards are 50% in year one (100m tokens) followed by a halving every six months for four years.
Year 1: 50%
Month 12–18: 25%
Months 18–24: 12.5%
Months: 24–30: 6.25%
Months 30–36: 3.125%
Months 36–42: 1.5625%
Months 42–48: 1.5625%
Advisory, Treasury & Liquidity
Our advisors have been instrumental in helping to launch the project and raise awareness for Bonded. “Breaking ground” on something of this magnitude requires a world of unseen contributions. At the core, there is the vision and the technology but small missteps along the way can spell disaster. Our products are being built to be used by any and all. This is something that requires visibility, liquidity and needs to be positioned appropriately in order to see things through. We have been fortunate to be receiving advice and guidance from those that have been there before and are contributors to the space. Their combined experience in emergent markets is unrivaled as is their understanding of the nuances of getting a project structured, capitalized and out of port. Without them, we’d be a group with a strong motor but no rudder.
The function of the treasury is to create needed runway as opportunities arise. Simply put, this is slated for realizing partnerships, community grants, developer rewards, operating capital, market making, exchange listings, strategic investment and anything that will best ensure the long-term benefit of the project. A portion of these tokens will function as a liquidity allocation which likely represents our nearest-term allocation. We believe that as we approach full decentralization of all Bonded products, these tokens need to be circulating as we hope to achieve needed listing coverage within four quarters while we foresee longer-term support for the full maturation of the Bonded ecosystem.
There are components to community and Bonded intends to use tokens to incentivize users (staking) as well as customer acquisition, i.e. rewarding those that truly engage, govern and interact with the protocols in order to support a sustainable model that has potentially unlimited growth. This is community; while it has become synonymous with active trading participants, we believe that the case for non-speculative functioning products with measurable metrics like AUM, partners and loyal users of a platform is the p/e ratio of a network.
Finally, there is a reserve function which seeks to provide security for the network as it finds its way to full decentralization and becomes a driving force in decentralized finance. This will likely be turned over to governance, as communal decisions will ultimately come to determine the direction of the project. As it stands now, we have a working idea of what we anticipate but the treasury will remain nimble as the space so often requires.
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.