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Creating A Bond

Bonds are created by connecting a wallet with a Kujira address holding the token offered and walking through a step-by-step guided process.

Bond Creation Variables

Bond Start Date and Time (UTC). This is set by the maker. It must be a future date and time. The bond status is “scheduled” until the allotted time and date is reached.

Bond End Date and Time (UTC). This is set by the maker. It must be a future date and time. It must occur after the Bond Start Date and Time. At this point in time a bond is no longer available to be bought. When this time and date is reached the bond’s schedule changes to “Expired”. If all the bond tokens are purchased before the End Date and Time is reached, the bond’s status changes to “Completed”.

Bond Maturity Date (UTC). This is set by the maker. It must be a future date and time. It must occur after the Bond End Date and Time. At this point in time the bonded tokens are available to be redeemed. When this time and date is reached the bond’s schedule changes to “Mature”. The bTOKENs minted when takers bought the Bond token can be redeemed for the tokens in the Bond.

Token Denom. This is chosen by the maker. It is the token locked in the bond deal.

Token Quantity. This is chosen by the Maker. It is the number of tokens in the bond.

Purchasing Denom. This is chosen by the Maker. It is the token used by the Taker to purchase the Bond.

Price. This is the cost per Bond token, expressed in terms of the Purchasing Denom. Eg if 100 FUZN are bonded, the purchase denom is USK, and the price is $0.55 per token, then the Price is 0.55 USK and the entire bond’s value is 55 USK.

Bond Denom Number. This is chosen by the Maker. Each bond has a unique number as part of the bTOKEN denom. This is to discern between multiple bonds using the same bond token. Eg bFUZN01 can only be used to redeem FUZN in one specific bond. Other tokens with bonded FUZN have their own bFUZN.

When a Taker participates in the bond, bTOKENs are minted and distributed to them. These are redeemed for the token in the bond when it reaches the Bond Maturity Date. bTOKENs are distributed to Takers immediately, when the Maker decides not to use a Flow. If the Maker chooses to create a distribution schedule using Flows (another Fuzion product) then bTOKENs are distributed to Takers accordingly.

Schedule Creation Variables

Schedules are instructions created by the Maker defining the distribution of bTOKENs to Takers.

Schedule Start Date. When the distribution of the bTOKENs begins.

First Claim Delay. The number of days after the start of the schedule until the Taker may make their First Claim.

Schedule Length. The number of days it takes for the bTOKENs to be completely distributed.

Bond Maturity and Redemption

When a bond matures, the tokens placed in the deal by the Maker are available to be claimed. Holders of bTOKENs can visit the bond detail page and redeem them for the asset at a 1:1 rate. Every bTOKEN represents a 1:1 access to a token in the bond. The tokens will remain safely in the deal until bTOKENs are redeemed and they are released. There’s no time limit on redemption.

Bond Detail Page

Every bond has a unique Bond Detail Page, with a separate vanity URL. This page shows all the relevant info regarding the bond, and the participation of any connected address. It is where bTOKEN holders go to redeem bond tokens once a bond has matured.