November: Monthly Update.
Bonders, it’s been an exciting month to be working on the release of our Primary Lending Platform.
Behind the scenes, in plain sight and sometimes in the frontlines of Telegram chats spreading the word to recruit partners, our team has been dedicated to achieving the milestones we set for ourselves.
So, what happened this November?
As you already know, we are dropping the Testnet for our Primary Lending Platform on the Rinkeby network right here, right now. This is a key moment for Bonded Finance, not only because you have been loyally waiting for this through thick and thin, but also because we are now able to show you the fruits of our hard work.
Launching this Testnet required a great deal of testing to make sure every functionality and display worked correctly. Leading the team at Cyber Unit, our CTO Brian Pasfield spent countless days and nights fixing and retesting every bug we could find until no significant bug remained untapped.
Now it’s your turn to help us test the much-awaited Primary Lending Platform! You’ll find instructions to do so here, and we’ll also advise you to check out this video of Brian and Carlos going through the platform.
Having the Testnet out is also crucial for partnership development and onboarding. With working contracts in a public blockchain and an MVP ready to ship as our final audit concludes, we hope that the rate at which we can attract and onboard partners will accelerate. With straightforward features, a relatively simple interface, new marketing efforts and our comprehensive whitepaper, this Platform will act as the perfect introduction card to the Bonded vision of DeFi for everyone.
And, speaking of presentation cards…
We’d love to introduce all of you to our secondary auditing firm, HashEx! HashEx has audited 500+ smart contracts since 2017. $2B+ of funds have been secured through their work, and hence we’re delighted to work alongside them. They are known auditors of projects in the Polygon Network and xDai, having also collaborated with firms such as Ape Swap and NFTY Labs and providing blockchain advisory services to many clients.
So, why secondary?
CyberUnit is still one of the very best auditing firms in the crypto world. Regardless of the fact that they have put in the work to develop our Platform, they have also conducted an audit on it with a separate, uncommunicated team within their own organization. This is to help achieve a unique feature: Having firms that are both auditors and developers work both in our auditing and development. Cyber Unit has done a great job developing the platform and helping us conduct near audit-level reviews, and we count on HashEx’s experience developing to help boost our security to a higher standard than what we often see in the industry. The devil’s in the details!
The rest of our team also says hi!
As we race towards the launch of a final product, the marketing team continues assembling things behind the scenes. In Konstantin’s words, we’re “loading all the guns so we’re ready to fire when the time comes”.
We’re engaging several specialists to lay down a PR strategy that makes sure that Bonded Finance is the hit it was dreamed out to be. In regards to the rebrand, we are looking to make an official announcement outlining our new brand and identity between this announcement and the release of the Mainnet.
As we mentioned, HashEx will start auditing the Testnet immediately. Hopefully, this process will iron out any withstanding defects and give us clearance to transition to the main Ethereum blockchain. Should any found bugs and defects be minor (as we expect them to), we aim to finalize this transition swiftly.
In the meantime, the race is far from over: We’ll continue to work behind the scenes to push out more and better features, improve our marketing efforts, and onboard new partners and projects.
Bonded Finance is DeFi for Everyone, after all!
The Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven financial instruments that push the bounds of open finance. Bonded 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.