Features

Bond Tokens bridge traditional bond markets with onchain infrastructure and DeFi:

Fractional Ownership: Each Bond Token represents $100 face value with 18-decimal precision. Corporate bonds that previously required minimum investments of $200,000+ are now accessible at any position size.

Snapshot-Based Coupon Entitlements: Coupon payments are distributed based on a holder's Bond Token balance at a specific snapshot block, not at transfer time. This design ensures fungibility, Bond Tokens can be freely traded without losing past coupon entitlements or gaining entitlements that belong to prior holders.

Issuer Call Rights: When bond issuers exercise their right to buy back part or all of the issue before maturity, callable supply is redeemed pro-rata across all holders. registerCall triggers a full Bond Token freeze: no onchain Bond Token action is permitted until the relayer has processed every holder in the registration-block snapshot, including transfers, DEX trades, vault deposits, mints, and even regulator-mandated complianceBurn; the only allowed burns are call-settlement passes via executeCallForUser. Bondi runs that relayer pass immediately; the freeze typically lasts only minutes, then normal transferability resumes automatically. For KYC-eligible wallets and whitelisted Bondi vaults, callable Bond Tokens are burned and stablecoins paid in the same transaction; if a wallet lacks valid KYC at execution, its Bond Tokens are still burned but the stablecoin entitlement is recorded onchain for later self-claim. See Issuer Bond Calls for the full flow.

Onchain Document Management (ERC-1643): All bond purchases are permanently recorded onchain with content hashes and timestamps, ensuring transparent, auditable access to the complete bond lifecycle history. See Proof of Reserve & Deployed Addresses.

Minimal Admin Privilege Surface: There is no admin force-transfer capability. Pause acts as a global stop for all Bond Token movements. Compliance actions on a holder's balance are supply-neutral: the COMPLIANCE_BURNER_ROLE path (Admin Safe) burns Bond Tokens from a blacklisted address (see KYC revocation and blacklisting) and re-mints the identical amount to the Admin Safe in the same transaction, so total supply is unchanged (the tokens are relocated into Admin custody and never destroyed. This path works under admin pause but not during an active issuer bond call. Total supply is only ever reduced through Distribution-controlled burns during principal redemption or issuer bond calls ) where, for KYC-eligible holders and whitelisted Bondi vaults, the burn and the stablecoin payout always occur in the same transaction; if a wallet lacks valid KYC at execution time, its Bond Tokens are still burned at settlement but the stablecoin amount is recorded as onchain entitlement and can be claimed once KYC is restored.