What is BondAppetit?BondAppetit (
https://bondappetit.io/) is a DeFi protocol for business loans with a stablecoin backed by real-world assets with fixed periodic income (bonds). Businesses can borrow money (in fiat as well as in crypto) from the protocol, providing bonds with fixed income as collateral. BondAppetit is a part of the Ethereum DeFi ecosystem.
https://www.youtube.com/watch?v=5w32WATvDpcHow is the BondAppetit protocol useful?Businesses are always looking for cheap financing opportunities. Traditionally, large and mid-sized companies get money through bank and bond financing. With its global reach and intermediary-free environment, the crypto market could become a new source of funding in the near future. The total market capitalization of the crypto market overcame the $1.7 trillion mark in 2021 and is expected to grow.
However, in its current state the DeFi lending market is a poor choice for established businesses. Most protocols suffer from volatility and over-collateralization, making them uncompetitive for mid-sized and large businesses in comparison to traditional bank and bond financing.
BondAppetit is determined to deal with these issues and open up new opportunities for businesses to access for a whole new source of liquidity.
TokenomicsThe BondAppetit protocol has two native tokens — the USDap and the BAG.
— USDap is the BondAppetit native stablecoin and will be backed by bonds. The first batch of bonds will be acquired by mid-July 2021. The total supply of USDap is uncapped.
— BAG (BondAppetit governance token) is the main tool for decision-making in the protocol and the main reward and incentivization tool for the community.
Token holders can earn passive income from real-world assets (bonds), which back the USDap. Interest income generated by collateral is distributed among token holders as rewards. The total supply of BAG is limited to 100m. 65% of them will be distributed among the community within 2 years:
https://bondappetit.io/whitepaper#21TeamCEO: Artem Tolkachev, the former head of Deloitte's Blockchain Lab:
https://www.linkedin.com/in/artemtolkachev/https://cointelegraph.com/authors/artem-tolkachev/CTO: Vladislav Komissarov
https://www.linkedin.com/pub/vladislav-komissarov/2/583/966Advisor: Sasha Ivanov (CEO of Waves)
https://twitter.com/sasha35625/status/1379868824598634496The story of BondAppetitThe protocol was launched on April 5th, 2021, and in a few days reached the TVL of several million dollars. As of beginning of July 2021, the protocol is still in the MVP phase. After the acquisition of the first batch of bonds, the BondAppetit business model will be proven in deed. Starting the next quarter, the protocol will be receiving the first coupon yields for subsequent distribution to BAG token holders.
How to make profits on BondAppetit tokens?There are two ways of making profits on BAG tokens:
— On the growth of its market value.
— By means of passive income from owning BAG tokens. Token holders can stake their BAG tokens on a special contract and receive interest income from the bonds used as collateral. The rewards of BAG holders are directly related to the volume of USDap stablecoins issued. The emission of the stablecoins will constantly increase. By purchasing the tokens once, token holders will be receiving incremental income from the entire amount of bonds in securing the protocol.
Why invest in BondAppetit when you can just buy bonds or bond ETF?1. Higher income. The number of BAG tokens is limited. BAG token holders will receive passive income from bonds, which back the USDap. The more borrowers, the more coupon payments for token holders.
2. Greater security. If you buy bonds and the issuer defaults, then you are left with nothing. In the case of BondAppetit, a default is not the end of everything, since the protocol can compensate losses by selling additional BAG tokens on the market.
How to acquire BAG?1. BAG can be acquired on the market (Uniswap or Waves) at a market price;
2. BAG are distributed as staking rewards in liquidity pools.
What will be the driving force for the growth of emission of USDap?We envision that the primary users of USDap will initially be other DeFi protocols interested in a stablecoin backed by real assets. We plan to achieve this through partnerships, and the first of such will be the partnership with EAST.Finance (
http://east.finance/). This is a project of Waves Tech, one of the largest ecosystems on the market, which is included in the top 100 on CoinmarketCap.
EAST is a DeFi protocol for issuing synthetic assets. It will run on the Ethereum and Waves blockchains. 1 EAST (Enterprise Algorithmic Stable Token) will cost $1 and will be available as both an ERC-20 standard token and as a Waves Enterprise token.
The stability of EAST is achieved thanks to the availability of diversified collateral. Half of 1 EAST will be backed by the WEST token with 250% collateral, and
the other half will be supported by USDap, which is backed by bonds with regular coupon payments and can independently compensate for losses in case of collateral destabilization. If the exchange rate of WEST falls by more than 100%, the smart contract automatically liquidates the position and replaces the relevant share of WEST with the USDap token after purchasing it from the market and thereby guaranteeing price stability.
The launch of EAST.Finance is scheduled for mid-2021.
LinksWebsite:
https://bondappetit.io/Whitepaper:
https://bondappetit.io/whitepaperLitepaper:
https://bondappetit.io/static/media/bondappetit_litepaper.pdfDeveloper docs:
https://bondappetit.io/docs/News channel (EN):
https://t.me/BondAppetitCommunity chat (EN):
https://t.me/BondAppetitEnNews channel (RU):
https://t.me/BondAppetitRuNewsCommunity chat (RU):
https://t.me/BondAppetitRuTwitter:
https://twitter.com/DeFiBondsBlog:
https://bondappetit.medium.com/Github:
https://github.com/bondappetit
