Earlier this month, we announced Foundry, a new joint initiative between DuckDAO and Ferrum Network, that aims to disrupt the incubation model by leveraging the buzz-making power of our thousands of Ducks, combined with Ferrum Network’s advanced technology stack.
Now, Foundry is excited to announce Bondly as our first incubation project — and it’s a big one! Here’s everything you need to know about the new project, and what it means for DuckDAO community members.
What is Bondly?
Bondly is an advanced P2P platform that provides the infrastructure for DeFi projects to grow their user base, streamline their payments, and enable trustless swapping and automatic payments. As a cross-chain capable platform, Bondly ensures projects are able to interact with its platform, regardless of which blockchain they are built on.
Bondly addresses two of the major pain points in the booming decentralized finance (DeFi) industry — interoperability and trust. Bondly resolves both of these issues with its transparent portable swap protocol, that allows users of a range of chat apps to easily swap assets across a variety of blockchains in a completely trustless manner.
The platform itself is being built on Polkadot, arguably the fastest and cheapest DApp and DeFi capable blockchains there is, ensuring users can interact with Bondly’s services at an extremely low cost, and the system is designed to be so simple, users might not even be aware they are interacting with trailblazing blockchain technology.
The Bondly ecosystem consists of three main products, which together make cross-chain trading safer, cheaper, and more flexible while enabling online marketplaces to easily integrate crypto payments:
- BONDSWAP (BSWAP) — An on-chain trading portal that enables trustless OTC trades through chat apps and social media.
- BOND DEX — Trade native assets on Polkadot with USD Coin (USD) on Ethereum. Earn reward tokens + fee share as a liquidity provider.
- BOND PROTECT — A decentralized escrow service that protects OTC traders and marketplace customers from fraud — think buyer protection on blockchain.
Why We Chose Bondly
At DuckDAO, we believe Bondly is one of the most promising projects we have ever incubated. As you are likely well aware, we focus on projects with the potential to both launch with a bang and continue to experience long-term growth for the foreseeable future. Bondly fits this agenda perfectly.
For one, Bondly has a strong use case. Its eCommerce plugin will allow crypto firms to easily offer crypto payments, without having to worry about custody issues or buyer protection systems — Bondly handles everything. It has already signed MOUs with marketplace clients, demonstrating immediate demand for the product.
Bondly also tackles one of the biggest problems in one of blockchain’s most booming industries — DeFi. By enabling cross-chain swaps through simple chat apps, it makes DeFi far more accessible, and cheaper too thanks to its Polkadot backbone. Helping to promote the widespread adoption of crypto and other DeFi technologies.
The Bondly token (BOND) has strong utility, since eCommerce clients will need to stake BOND as collateral for the buyer protection mechanism. It will also allows chat app and social media users to reducing the swap fees when holding BOND tokens, and has strong mechanisms in place to balance the circulating supply with demand — including staking rewards and token burns when BOND is used for certain transactions.
The heavily experienced Bondly team, which includes ex PwC, Google, and Payscape leadership, has an aggressive roadmap for the project, helping to ensure it launches with strong utility and is ripe for immediate adoption.
As a Foundry incubation project, DuckDAO users will gain access to the Bondly token sale through our token-permissioned Telegram communities.
DuckDAO will also provide both strategic assistance and marketing resources to Bondly, while Ferrum Network will provide access to its KYC verification suite, flexible staking mechanism, and AI-driven trading technology, among other tools.
Find Out More
DuckDAO is a community-backed blockchain-centric incubator platform that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to put them on the path to success.
Who will win? One VC or a thousand ducks?
CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime