- Bondly and IOHK announce partnership to help develop product standards for DeFi and democratize access to financial services
- Bondly announced as Cardano’s first go to market DeFi platform
- Using Bondly on Cardano’s infinitely scalable blockchain means Decentralized Finance could finally fulfill its promise of scaling to replace global financial systems
- Initial projects include moving Bondly’s cryptocurrency to Cardano and building e-commerce marketplaces to make trading digital assets a simpler and more efficient process
Leading blockchain engineering company IOHK, the builders of blockchain platform Cardano, today announced that Bondly will be the first DeFi project to be enabled on Cardano as part of the roll-out of the platform’s highly anticipated smart contract functionality that will allow decentralized apps (DApps) to be built on the network.
Bondly is a crypto-enabled e-commerce platform that acts as a portable peer to peer exchange, enabling trading across any chain, through any medium. Bondly aims to bring decentralized finance (DeFi) to the masses, merging traditional banking services with blockchain technology.
With this new partnership, IOHK will play an integral role in the development and integration of Bondly’s technology into the next generation of DeFi products. DeFi benefits exponentially from the ability to scale, something addressed by Ouroboros, Cardano’s underpinning consensus protocol.
The initial partnership will include products in both the Bondly and IOHK ecosystems, sharing joint roadmaps and key milestones, including:
- The Bondly cryptocurrency, BONDLY, being ported from Polkadot to the Cardano blockchain.
- Bondly’s over the counter (OTC) trading platform, BSwap, allows easy peer-to-peer digital asset trades, migrating to Cardano.
- Bondly’s eCommerce Platform, BONDProtect, designed to provide decentralized escrow and buyer protection using smart contract technology, will run on the Cardano blockchain. The platform aims to replace all site-specific crypto escrow products with an easy to use API and completely smart contract-driven product.
Charles Hoskinson, CEO of IOHK, said:
“IOHK’s core mission is to widen and democratise access to financial services, which is why Bondly is a perfect partner for us. As Cardano’s Goguen smart contracts functionality continues to roll out, we’re looking forward to working with Bondly to build solutions which will allow DeFi to live up to its true potential, ultimately scaling to completely replace the global digital financial system.”
Brandon Smith, CEO of Bondly discussed the trule scale of this partnership, stating:
“I’m so elated to work with the extremely talented team at IOHK/Cardano, to share technology between our companies, and for Bondly’s suite of products to be live on one of the world’s most important blockchains.”
Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling DeFi products is designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Our product BProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.
IOHK is an R&D and product engineering company, committed to using peer-to-peer innovations to provide 21st-century services to the 3bn who don’t have them.
We build blockchain-based products for governments, corporations, and academic institutions and upskill people across the world, empowering them to solve the most pressing problems faced by people in their countries.
We have core beliefs in decentralization, the right to privacy and stand opposed to centralized control and bureaucracy.