MANTRA DAO Partners with Bondly, Bringing Crypto to the New Generation Digital Economy
September was a big month for MANTRA DAO. With partnership announcements with teams from Vietnam, Thailand, Korea, Russia, Germany, New York and California, the Sherpa community expanded across the entire globe last month. We will continue this trend in October. Today, MANTRA DAO is excited to announce our strategic partnership and investment in Bondly, a crypto-enabled e-commerce platform that aims to unlock the $4 trillion of latent value in the Next Generation Digital Economy. This strategic partnership represents another expansion into the Polkadot ecosystem for MANTRA DAO that introduces $OM-based DeFi products to a brand new, non-crypto-native audience of over 400,000 digital business buyers and sellers, bridging the gap between the Digital Economy and Decentralized Finance.
Bondly (Bondly.Finance) is an ambitious new protocol that will provide interoperable DeFi tools for over-the-counter (OTC) exchanges and the digital marketplaces of the future. Although the native digital asset for the Bondly ecosystem will begin its life on Ethereum, Bondly is developing its products exclusively for the Polkadot ecosystem. Bondly has three products on their roadmap: BondSwap, BondDex, and BondProtect. This suite of products is designed to encourage the adoption of blockchain technology as a payment method across industries that today are unfamiliar with crypto. BSwap and BDex enable decentralized cross-chain OTC trades of non-derivative digital assets that guarantee price execution with no slippage. BProtect offers the simple and secure exchange of any cryptocurrency, tokens, or non-fungible token (NFT). This service is offered to third-party businesses and independent creators, who can easily plug the module into their existing desktop or mobile software architecture in the same manner as Paypal or Stripe.
BOND Airdrop to OM Stakers
We are extremely excited to announce to our OM Sherpas that, as part of this partnership, Bondly will offer an exclusive pool of its native asset, initially represented by $BOND ERC20 tokens, specifically to those who stake on MANTRA DAO’s native token staking platform at app.mantradao.com. We will begin taking snapshots for the $BOND distribution starting at 10/15/2020 0:00 UTC. Random snapshots of OM stakers on MANTRA DAO’s own platform will continue until the end of November, after which we will distribute $BOND to all qualifying Sherpas. These $BOND rewards are in addition to the 88% APY staking rewards denominated in OM tokens that we have already announced will continue throughout the month of October. We will publish further details on the $BOND distribution soon.
Working Together to Expand the DeFi Ecosystem
Brandon Smith, Bondly’s CEO, looks forward to introducing MANTRA DAO’s staking program and other DeFi product offerings to digital goods vendors. “We are excited to work together to find ways to support MANTRA and $OM as an integrated part of our marketplace product,” said Smith. He believes that MANTRA DAO and Bondly’s partnership will launch a broader DeFi adoption and more. “In the near future, DeFi will be easily accessible to a wider audience, and Bondly will be a critical part of this adoption by allowing users to effortlessly exchange their digital assets, for value, without a trusted 3rd party escrow service.” In regards to the rewards for OM stakers Smith said, “We are excited to provide Bondly’s native asset to OM stakers as we feel this group understands the importance of the Polkadot ecosystem and understands that DeFi only gets bigger if we invite more of the financial economy to join us.”
In addition to the super-charged staking rewards mentioned above, another objective of this partnership is the mutual development of these two projects. Thus, we have agreed on the sharing of technical resources related to developing on Substrate, Parity’s toolkit for building decentralized ecosystems on Polkadot. This collaboration will extend to marketing events as well, the first of which is the upcoming $BOND event for OM stakers.
John Patrick Mullin, co-founder of MANTRA DAO, agrees with Bondly’s vision. “It’s easy to see that the next wave of buying and selling digital native businesses should be done with digitally native currencies like OM,” said Mullin. “We see Bondly as one of a variety of ways to increase the members of our DAO and get our DeFi products into the hands of those who haven’t joined DeFi yet, all the while increasing the value of both $OM and $BOND.”
As MANTRA DAO continues to build out a vast ecosystem of partners and resources across the globe, we look forward to working with Bondly to help realize our vision of real DeFi for real people everywhere.
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 are 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.