August: Monthly Update

The month of August was a continued consolidation of sorts for Bonded Finance. Internally, there is a stride and pace that represents closing in on some long-awaited developments. For our community and supporters, it is overdue; the proverbial long time coming. The door is being knocked on now and will be answered shortly. To begin.

Listing Updates:

This month Bonded listed on two exchanges — HitBtc and Probit. There were the perfunctory trading competitions, along with an expected spike in volume. As has been stated, these listings represent a little more distribution, a little more exposure. The aim is not to blow the hair back but to inch along.

Marketing:

For Bonded, bringing marketing resources in-house became the right decision. Attempting to outsource and work with agencies can be a frustrating proposition as blockchain is new and frankly, hot. Our experience has been that firms often have one or two “consultants” who may speak blockchain but are rarely involved in the day-to-day. Given the need for intimate project understanding, consistent messaging and something that is a long-term initiative, the team set out to find people who understand crypto, have lived in the space and primarily, had a hunger to contribute.

New Team Members:

Konstantin Shirokov, Marketing Director — Based in Moscow, Konstantin received a masters degree in marketing and has spent the majority of his career as a marketer in FinTech since becoming enamored with the blockchain space roughly four years ago. For Bonded, his traditional but tech-centric background is a plus but it is his understanding of crypto related social media that matters; particularly international communities. Besides, he’s a fellow altcoin enthusiast and offered the following: “I’m so excited to be onboard with Bonded Finance to build a more effective new financial system. As an altcoin holder myself I anticipate for the launch of the Primary Lending Facility. DeFi is a game changer in how the capital works and Bonded is a game changer in DeFi.”

Carlos Cano, Content Creation — Carlos Cano is a self-confessed digital nomad, podcaster, who by happy accident or fate found his into cryptocurrencies in 2017. Like Konstantin, he has a degree in marketing but his metier and work as a writer, content creator, and coordinator for crypto research firms, 8-figure raising ICOs, and marketing agencies is where he cut his teeth in crypto. His work has already been published on Medium here and he will set the tone and voice for Bonded going forward. Another long-term altcoin holder, he looks forward to putting his long bags to work.

Stacking Rewards Programme

Our stacking rewards program is presently undergoing an upgrade of sorts as we seek to add multiple assets simultaneously. The LP incentives for our markets on Uniswap will be temporarily suspended. After which, a new asset will be added to rewards.bonded.finance offering Bonded holders roughly one million USD worth of new tokens. The project identity will be revealed just prior to the rewards program smart contract being re-deployed.

The Tech Front

This is the proverbial laundry list of to do’s along with the more tangible but in the name of putting it on the table, let us speak about how things are coming to pass.

  • Primary Lending Platform — continuous updates and refinements to the UI. User experience notably improved over the UI that was recently presented in our recent YouTube video.
  • Progressive Livenet Deployment — myriad components of the platform, including but not limited to — collateral deposit, stablecoin asset deposits, borrowing and the BOND staking function.
  • BOND single asset staking — currently in development in tandem with complementary developments.
  • Testing — continuous, all components
  • Smart Contract Audit — final scheduling
  • Mainnet Release Dates — to be published very shortly.

The Nitty Gritty Interim Report:

  1. Updated API for actual token prices to be displayed on the modal windows (back-end)
  2. Updated UI designs for borrower dash
  3. Testing lending platform smart contracts
  4. Updated UI designs (pop-ups, tables, loan health factor)
  5. Finished stage environment setup (back-end, dev-ops)
  6. Finished API to display new parameters on the borrower dashboard.
  7. Finished Index market chart API
  8. Finished deployment of proxy contracts
  9. Finished all UI layouts
  10. Finished borrow function implementation
  11. Finished repayment smart contract
  12. Unit tests for borrow and repay have commenced.

Conclusion

August was a productive month from the development department and there is now a cohesion to all things technical. Our marketing team has spent the last couple of months grouping and familiarising themselves with Bonded finance and preparing our comms and marketing strategy for our product launch and beyond. In short order, there will be a similar type of workflow and output on the marketing front which our community has no doubt noticed taking effect at recent. Bonded is not a product that took shortcuts in development or cut corners in terms of expenses. We believe this will pay significant dividends on the commercial front. We have watched countless protocols hacked, exploited and implode over the last months. Bonded has retooled, rebuilt and contended with all the blowback — deserved and other. We are now using multiple firms to complete our audits. We are almost home! We look forward to announcing Mainnet dates and the new beginning it will come to represent for our BOND community.

Algorithmic smart instruments and decentralised financial products for digital assets.