December: Monthly Update… We are no longer Bonded Finance!
Dear BONDers:
As a growing coterie of financially Bonded believers, our vision to provide real financial services for altcoins has gone from a “few understand” to a “DeFi for Everyone” mission. It has not always been an easy road to travel, but the last month has been full of milestone moments — from the debut of our Primary Lending Platform’s Testnet to the start of its final audit and forthcoming move onto Mainnet. There is more, of course, unfolding behind the scenes and it is now time to take another seminal step in our roadmap… our long-awaited rebrand!
Are you ready? From Bonded to Fringe
We’re happy to let you know that the new name for Bonded is… Fringe Finance!
Why?
The word Fringe signifies many different things, but chief among them is a representation of the borders or edges of an area or group. The frontiers. And, in a more connotative sense, the outliers. The fringe can be the point of origin for significant change as something makes its way from the outskirts to the mainstream. It is a wellspring for creativity, a place where established rules and concepts are challenged. We at Fringe Finance aim to take the relatively pedestrian — DeFi lending and borrowing — and transform it, pushing its borders to the very edge. This is the rationale behind the name that we believe best embodies our mission to redefine the borders of economic innovation.
Fringe is also used to refer to “a decorative border of hanging threads left loose or formed into tassels or twists, used to edge clothing or material.” This denotation is not without symbolic application as we not only endeavor to make DeFi more inclusive for all involved. Moreover, Fringe Finance aspires to an elevated aesthetic via visually appealing open interfaces that are as intuitive as they are seamlessly connected. Decentralized finance is fraught with challenges, and our motto, DeFi for Everyone, must be realized through our actions and products.
Finally, in adhering to the law of threes, the final use of our new name is what folks in America refer to as a fringe benefit. This kind of benefit is ancillary, often unexpected and always attractive. For us, this is a constant reminder to remain committed to our longstanding holders who are indeed deserving of some fringe benefits. You are, after all, the ones making our work possible!
Fringe Finance signifies a new start and a clean slate as we set the stage for the launch of our first product and a truly new, hopeful beginning.
What does the rebrand mean for token holders?
With the new name and associated branding, users are probably wondering what might change for the $BOND token. Given the inordinately high fees on the Ethereum chain, we’ve decided it would be beneficial to our holders to conduct an airdrop as opposed to a token swap.
Effective from January 24th, all the liquidity for the $BOND token will be pulled from our CEX partners and DEX pools injected into a new ERC-20 token listed by them, $FRIN. All users holding $BOND tokens in both exchanges and non-custodial wallets (such as Metamask) will be airdropped $FRIN tokens. The token will maintain a 1:1 ratio to their $BONDies. $FRIN will retain $BOND’s tokenomics, as we do not see the need to make any changes to our original distribution design.
Pursuant to the airdrop, please be advised that you have until the snapshot to unstake your tokens in Ascendex and pull all liquidity you’ve provided to Liquidity Pools on Uniswap. We’ll be creating and sharing a dedicated blog post about this next week, which will detail the whole process.
Please note that ONLY this Medium blog, our Telegram ANN channel and our official Twitter account will post information about this. Disregard any user or team member impersonator telling you to take any action with your tokens. Note that all of our social media handles are now under “Fringe Finance”, leaving Bonded behind. The new website can be found at https://fringe.fi.
How will the rollout unfold?
What else has the team been up to?
Results from HashEx are in!
On December 26th, we looked under the Christmas tree to find one last gift.
Our auditor, HashEx, has sent us the preliminary results from their review of our Primary Lending Platform’s Testnet. We’re proud to say that, overall, we’re positively positioned with some issues identified and currently being worked on.
Our devs are currently hard at work actioning the audit’s findings. As soon as we have addressed the issues, we’ll ship our code back to HashEx for them to assess whether the Primary Lending Platform is ready to go live as a Mainnet. We’re almost there!
Our code is currently also being re-examined by Cyber Unit’s auditing team. The auditing team is incommunicado from the developers that participated in building the Primary Lending Platform to help their results remain pure and unbiased. Once again, we note that by having two audits by professional, well-known firms, Fringe is achieving an unparalleled level of security.
USB Stablecoin Platform well underway
Our tech team does not know how to sit idle and (along with laying down the technical roadmap for the $FRIN airdrop and informing the redesign of our rebranded materials) it has commenced the development of the $USB minting platform.
As you know, this platform is a cornerstone of the Bonded Finance vision, so we couldn’t be more excited to announce that it’s currently well underway with a Testnet just around the corner.
Working with Chainlink to employ and establish further price feeds
Price feeds are key to our product design, which is why we’ve partnered with the very best in the game to make sure the information we feed our contracts is up-to-date and correct.
Over the past weeks, we’ve had a couple of calls with the Chainlink team to lay down processes to continue employing and establishing price feeds for our target listed tokens. This means that the primitives created by our collaboration will be useful not only for our project, but for the DeFi scene as a whole. Bonded aims to be composable with the broader Decentralized Finance ecosystem from Day 1!
Partner Spaces series
As you already know, we’ve been conducting a series of Twitter Spaces with our partners. So far, we’ve had TomoChain, UNION Finance and Polygon representatives come and chat with us.
Our goal is for these Spaces to be an ongoing thing, as we keep onboarding projects to the Fringe train. Strengthening our relationships with all of our partners, building cross-marketing channels and opportunities and educating the crypto communities on the Webs is key to achieving our goals.
DeFi is an inclusive mission. Through this project and with the help of our partners, we hope to keep helping bring new adopters to create a new financial panorama.
We are growing our Marketing team!
We’d like you to meet Anna, our new Marketing Manager!
She has been involved in marketing since 2015, and in crypto since 2018. Anna graduated the St. Petersburg State University & School of Management. She has experience marketing for international crypto projects in South Korea, Malaysia, China and Russia.
Anna will be a great addition as we prepare for our Mainnet’s launch and to upscale our marketing efforts!
Oh, and there’s a gift!
We’ve got some talented community members at the Fringe Finance Telegram chat, one of them being the beloved Eric, creator of the Crypto Cove store and the epic “Bondies! Bondies! Bondies!” audio.
Along with the Crypto Cove, we’ll be giving away ten Fringe Finance “The Brian Pasfield” embroidered packable jackets to ten select community members. Stay tuned for more news about this dynamic!
About Fringe Finance
The Fringe platform was created to incubate and deploy experimental, high-yield, smart-contract driven financial instruments that push the bounds of open finance. Fringe 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 leverage assets and realize their value.
