DeFi Composability

Bond Tokens trade permissionlessly on DEXs; buying, selling, and providing liquidity require no KYC. Bond Tokens provided as liquidity in the Bond Token's canonical pool keep earning coupons, because the snapshot credits each position's Bond Token share to its owner. Liquidity in any other pool does not earn coupons. For complete details on secondary market trading, see Secondary Market.

For DeFi composability beyond trading (lending, borrowing, collateralized positions, and auto-compounding yield strategies) Bondi's Reinvestment Vault (a customized ERC-4626 vault with all the standard interface) wraps Bond Tokens into a Vault Bond Token (vbtXXX) that integrates with any protocol accepting ERC-20 assets. Vault Bond Tokens can never be frozen or force-transferred. See Compliance at Reinvestment Vault Exit. vbtXXX can be used as collateral in Morpho markets to enable leveraged looping on Bond Token exposure.