Bonded.Finance provides algorithmic smart instruments and decentralized financial products for digital assets.

This AMA will give you the opportunity to connect with the Bonded.Finance team who will answer your questions and listen to your feedback.

I’m Paul Mak. Professionally, I got an early start in business and have been an active investor and entrepreneur for about 17 odd years. In that time, I’ve covered a pretty diverse range of industries…commodities, real estate, hospitality, FMCG and finance/fintech. Crypto has been the one thing that’s really captured my attention and kept it over the years.

Bonded for me is the culmination of the above experience abs the frustrations I found with finance, international trade and the likes. In 2019 When we started seeing what was possible in defi – real value being locked, the returns, interest-bearing assets and products, it intrigued me like nothing else.

I’m Dave Donnenfeld. I’ve got pretty a varied business background both entrepreneurial and more traditional, having founded a behavioral company during the dot com era which saw me segue onto the private equity side of things. I’m a published writer from mainstream magazines to prescriptive non-fiction and even fiction so I ended up working with investment memorandum which often fuses marketing, legal and accounting into one so I got a good sense of what makes things go.

Question from the CryptoRank team

Can you shortly describe the Bonded Finance project, the milestones you have achieved, and your upcoming plans?

Paul: – Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven, financial instruments that push the bounds of open finance.

The crypto space is nascent and inefficient with a surplus of unproductive capital. We’re going to put that capital to better use through a process we call bonding.

Bonding 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 borrow against these assets or pool them and start earning.

CryptoRank community questions

#1. Could you share expectations of Public IDO on Dolomite DEX you’ll launch 4 days later? Why did you choose them?

Dave: – Well for starters, we are a DeFi initiative so having our sale powered by a decentralized exchange was the right move us as we want to set the tone from day one. With respect to Dolomite, well, with all due respect to the other providers, public sales have often not gone as they should have. This is challenging stuff and certainly, disgruntled people speak more loudly than those who were satisfied but Dolomite has demonstrated great technical competence and our conversations with Corey and Adam were great. There’s a lot about them to like actually and they were the only ones who understood that we were not looking to do a bonding curve. You’re always going to grapple with wanting to get everyone in and proportional distribution but we were able to come up with a simple, straight line plan that doesn’t attempt to obfuscate the price tiering. May sound small but we want the admins in our TG group to be able to explain the mechanics without needing to take classes and anyone interested in the project, should be able to get it without having to do a deep dive. They were not only willing to do things a little differently, they were supportive at every turn. Granted, we didn’t reinvent the wheel, it’s pretty straight forward but we heard a whole lot of ideas that seemed a little obtuse to put it nicely. Final word – the sale itself is going to be a run off a sub-domain of Bonded with a user interface that mimics Uniswap and that was pretty important to us and Dolomite’s experience doing just that was impressive.

#2. What’s the main reason behind choosing Ethereum, not other blockchains? The main problem with DeFi is the vulnerability of the smart contract. What special steps is Bonded.Finance taking to avoid this incident in the future ?

Paul: – Regardless of the occasional network congestion Ethereum is a comprehensive, tried and tested commercial grade network. It has the best tools and the largest demographic of users. Cross chain interoperability is near term opp that we are actually in discussions with prospect partners about.

Our smart contracts are managing user funds. We take this very seriously. In DeFi there can only be one standard…comprehensive security audits from market leading entities. That’s our approach.

#3. How easy is it to use Bonded? How does Bonded plan to dominate the DeFi market?

Paul: – We actually provided a little teaser of the Ux on our twitter page. It’s a Connect and click platform really.

As for dominating the DeFi market, we’ve got a very strong token model, a commercially strong business model and an aggressive to-market strategy for early growth.

Incentives will be provided for early adoption and then retention strategies to keep our user base will be implemented.

#4. When will the world stop being afraid to use DeFi? What is Bonded doing for the mass adoption of DeFi technology?

Paul: – Well we only fear what we don’t understand and most people still don’t understand the economics of bitcoin let alone the way to use it.

What’s good about DeFi is we can jump right over retail and go straight To investment grade financial institutions with these tools. Right now it’s still a little early but a year or so of data and the automation, higher yield and lower cost structure of DeFi will be too attractive to ignore.

Exciting times ahead.

#5. Do you have any plans to attract non-crypto investors to your project? What are the plans to increase awareness around your in non-crypto space?

Dave: – We are going to remain mobile and bring in contributors as things change. We’re deploying products and collecting very valuable data in order to generate safe returns with yields exceeding traditional markets. Ideally, we hope to get some TradFi companies to migrate capital onto our network.