Secondary Market: Permissionless Bond Token Trading
The Secondary Market enables permissionless trading of Bond Tokens as standard ERC-20 assets. Anyone can buy, sell, or trade Bond Tokens on decentralized exchanges without identity verification, providing instant liquidity and price discovery.
Permissionless Trading
Bond Tokens are fully tradeable ERC-20 tokens that can be exchanged on any decentralized exchange supporting the networks where Bondi operates. Trading requires no KYC verification. Simply connect your wallet and trade.
What You Can Do Without KYC:
- Buy Bond Tokens on DEXs
- Sell Bond Tokens at any time for instant liquidity
- Transfer tokens to any wallet address
- Provide liquidity to earn trading fees
- Use tokens in DeFi protocols and applications
Exception: During an active issuer bond call, Bond Token transfers are temporarily frozen until relayer execution completes for every holder in the snapshot. See Issuer Bond Calls.
KYC Requirements for Bond Proceeds
Trading Bond Tokens is permissionless. Stablecoin proceeds from a bond are paid only to KYC-verified holders. Non-verified holders are paid in claim tokens instead.
Those claim tokens are Coupon Tokens for interest and Principal Tokens for repayment. Anyone can hold, transfer, or sell them. A KYC-verified holder redeems them for stablecoin. See Coupon and Principal Tokens, Coupon Distribution, and Redemption.
DeFi Composability
As standard ERC-20 tokens, Bond Tokens integrate seamlessly with the broader DeFi ecosystem:
Decentralized Exchanges:
- Trade on Uniswap, and other major DEXs
- Access through DEX aggregators for best execution
- Participate in automated market maker pools
- Use as collateral in lending protocols
- Integrate into yield farming strategies
- Combine with other DeFi primitives
- Full composability with smart contracts
- Provide liquidity to Bond Token trading pairs
- Earn trading fees from market activity
- Participate in liquidity mining programs