Bondly (BONDLY) Review
On Bondly, you may utilize cryptocurrencies in exchange for traditional digital products and services, like cloud storage, software, games, and more. An ordinary investor will be able to purchase, sell, and trade digital products with no special financial institution requirements.
How It Works
The primary role of cryptocurrency exchanges (OTC) is to allow people to swap one cryptocurrency for another, or fiat, money. OTC transactions are often conducted by participants who want to keep their identities or deals confidential, or who have a large amount of money at stake. It is potentially dangerous, since there is no assurance of completing a successful transaction while meeting with a total stranger. Slipping prices may result in sub-optimal performance in larger orders and end up costing a lot more than they should.
Year after year, the idea of what a digital product is changes. 74% of internet purchases are for digital items, while physical things represent just a minority of the total. There is a significant lack of direct marketplaces for digital products and services, with middlemen running most of them. In contrast to the trustworthy intermediates, there are a few untrustworthy middlemen.
Bondly is working on a new blockchain-based cross-chain exchange network dubbed BONDSwap. This will build system-level virtual parachains for non-turing full blockchains, such as Bitcoin, Litecoin, and other Bitcoin forks, by using Polkadot’s bridge modules. For all other chains that support smart contracts, bridge contracts will be used to allow contract interoperability.
The BSWAP system is a comprehensive trading platform that is entirely programmatic and automated. By circumventing the relay network and working directly via smart contracts, it enables you to swap bitcoins and Ether. Bondly’s secure web-client or mobile application may be used to conduct the whole procedure. By integrating with the Bitcoin blockchain, the design allows for trading across other blockchains and helps to avoid slippage and provide price execution without any risks.
What Is BOND-DEX?
The Bondly exchange enables users to trade various blockchain-based cryptocurrencies smoothly and completely anonymously. Liquidity pools tied to their respective markets and run by an automated liquidity engine are provided by BOND DEX. The Bondly Protocol may direct the BOND hot wallets to lock or release money on non-turing full blockchains, while giving a similar command to the blockchain-enabled smart contracts.
BONDProtect (BProtect) Marketplace Payments Platform
BONDProtect is a secure and easy-to-use marketplace payment platform intended to facilitate any kind of transaction, while also protecting users. Escrow, recurring payments, and payment protection are included in this solution. BProtect is specifically intended to be utilized by markets that already have their own third-party integrations. They can incorporate BProtect into their infrastructure without maintaining custody, and establish their own fees without having to worry about things like lockups and regulatory consequences.
Since launching BProtect, a business that created NFT and cryptocurrency collateral protection, they have now launched a new service that enables users to post NFTs and cryptocurrencies as collateral for transactions. Bondly believes that even in situations where on-chain asset escrow may not satisfy all NFT marketplace criteria, there are likely other ways to accomplish the same goals. An additional measure of protection is collateral posting, which is a requirement to provide collateral by the seller.
How Disputes Are Handled
Bondly makes possible the digital securities exchange and digital money transfer between two parties. With BProtect, third-party arbiters may handle any number of transactions for the business. The buyer will refund the money and the seller forfeits collateral as a penalty if a disagreement develops. BProtect also keeps a record of all transactions on Bondchain, providing transparency to both buyers and sellers while protecting the identities of both parties.
What Is BONDLY Token?
The total number of BONDLY tokens, all of which are Ethereum Mainnet tokens, is (1 billion). Within the Polkadot ecosystem, BONDLY will be supported and is currently mentioned as a contender for a Polkadot parachain slot. In addition to allowing funds to be allocated for community bonding projects, the tokens will also be utilized to offer liquidity throughout the 36-month time span. The soft cap does not exist.
The Bondly Collectible Card Game (BCCG)
The game is a digital, NFT based collectable card game that greatly adds to the fun. Gamers are incentivized to engage in games with this creation. The total allocation for prizes is 7,500,500 BONDLY tokens. Beginning with the launch of BCCG, 16.379m (1.64% of the supply) BOND tokens will be burnt, causing a supply reduction of 16.379m (1.64% of the supply).
What Risks Should I Know About?
It’s possible that Bondly tokens’ value may depreciate, or that they may stay illiquid for a long time, or forever. BONDLY token purchases may be rejected or canceled at any moment at the discretion of the business. Despite all of the excitement around bondly crypto tokens, there is no assurance or expectation that they will grow in value or have adequate liquidity on exchanges. Ownership has no bearing on equity ownership or control of the business.
Bondly works on top of current blockchains to provide financial infrastructure. Polkadot has now successfully addressed the infrastructure issue related to Bondly’s product, and as a result, Bondly is the perfect use case to take advantage of the infrastructure solution provided by the Polkadot platform.
Further Bondly Information
- Price $0.012
- Market Cap