A public record of credit honoured.
BOND records promises kept. It is minted when interest is paid on secured loans, put at stake on one's own obligations, and burned if they are not met.
Who it serves. Borrowers who want their record of repayment to count, and lenders who want to see it.
How it is composed. It is minted on interest paid in time on an obligation set secured by a lien over collateral — at no more than the rate the auctions record for the term, and on no more principal than the collateral is worth.
Unsecured credit never mints it.
Put at stake on a set of obligations, it is burned if any obligation in the set is breached. It is not transferred to anyone.
A balance reads as credit honoured, in dollar-years.
What is different. It is attached to an address and to nothing else: it records conduct, not identity.
It carries no governance, fee or revenue right.
A stake deters only where failing to pay is a choice.
Status: Designed.
Caveats. This page describes BOND only as a credit record. It says nothing about any price, sale or supply of BOND, and nothing on it is an offer.
BOND is not a share in anything, and no fee or revenue is paid on it.
A stake that is burned is lost.
BOND is not deployed; the v2 contracts are unaudited.
Nothing on this page is an offer to provide this instrument or a recommendation to use it. The v2 contracts are unaudited.
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