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Primary Market: Corporate Bond Funding

Bondi operates the Funding Phase for each Bond Token. Investors deposit USD stablecoin on their preferred chain and receive non‑transferable FpUSD receipts; deposits are mirrored cross‑chain into a single global pool. If the target is reached, Bondi acquires the underlying bonds and investors claim their Bond Tokens on the same chain; if it fails, deposits are returned. The system uses multichain infrastructure for global coordination.


For details of early‑participant rewards during the funding phase, see our blog post.

Funding Phase​

Receipt-Based Investment System​

Bondi keeps track of the investment process through the FpUSD receipt system, achieving O(1) distribution complexity and efficient scaling to thousands of investors. When investors deposit USD stablecoin, they immediately receive FpUSD receipts at a 1:1 ratio. These receipts serve as proof of participation and entitle holders to claim Bond Tokens once the funding target is reached. The receipt system enables instant settlement, reduces gas costs, and provides a clean separation between investment tracking and bond token distribution.


For comprehensive details on how FpUSD tokens work, including minting during investment, burning during claims, and the exchange rate system, see the Funding Participation USD (FpUSD) documentation. For a worked example of funding math, decimals, and distribution exchange rate, see the FpUSD Real‑World Example.

Multichain Architecture​

Bondi's multichain infrastructure enables global funding rounds across multiple blockchain networks without traditional bridge risks. Users can participate from their preferred blockchain while contributing to unified investment pools. Deposits on any supported network are automatically coordinated into a single global funding target.


• Real-time Monitoring: Automated systems monitor funding progress across all supported chains
• Cross-Chain Reconciliation: Investments are automatically reconciled across chains every 15 seconds
• Unified Accounting: All investments contribute to the same funding pool regardless of originating chain


This architecture provides several key benefits: users avoid bridging fees and delays, the platform can aggregate liquidity from multiple ecosystems, and Bondi maintains full control over the investment process without relying on third‑party bridge protocols. For current network support and deployed contract addresses, see Proof of Reserve & Deployed Addresses.

Core Funding Parameters​

Funding Phase is governed by specific parameters designed to ensure successful bond acquisition while maintaining fairness and accessibility for all participants.

Target Funding Amount​

The total capital required for each bond offering, representing the amount needed to purchase the underlying bonds in traditional markets. Bondi's inaugural funding phase establishes a $200,000 target, sized to balance accessibility with meaningful market impact.

Funding Period Duration​

A predetermined timeframe within which the target funding must be achieved to proceed with bond acquisition. The inaugural offering features a 30-day funding window, providing sufficient time for community participation while maintaining momentum and urgency.

Whale Participant Threshold​

A minimum contribution level that qualifies investors for enhanced benefits and recognition within the platform ecosystem. Contributors meeting the $5,000 whale threshold receive the Whale NFT.

Minimum Investment Requirement​

The smallest permissible investment amount, designed to maximize accessibility while maintaining operational efficiency. The $100 minimum investment ensures that retail investors can participate meaningfully in previously inaccessible emerging market bonds.

Pricing Mechanisms​

Clean vs. Dirty Price Execution​

Bond acquisitions are executed at the dirty price, which incorporates both the clean price and accrued interest from the last coupon payment to the settlement date. This market-standard approach ensures accurate pricing while the target amount calculation incorporates:


• Base bond cost (clean price × quantity)
• Accrued interest buffer collected upfront
• Service and minting fees for operational sustainability


Any excess accrued interest beyond actual requirements is distributed to token holders with their first coupon payment.

Refund Mechanism​

Funds deposited into Bondi's smart contracts remain non-custodial until the target amount across all chains is reached. If the target is not met by the end of the funding period, refunds are executed automatically via refundInvestors(uint256 amountOfInvestorsToRefund_); no individual withdrawal is required. A manual withdraw() path remains available for edge cases.


Both refund mechanisms follow the same principle: FpUSD tokens are burned before returning the underlying USD stablecoin. This ensures the receipt system maintains proper accounting and prevents any double-spending scenarios. For detailed information on how FpUSD burning works, see the FpUSD Token Mechanics section.

How to Call refundInvestors​

To call the refund function, follow these steps:


1. Retrieve Total Investor Count

Use the totalInvestorsAmount() function to retrieve the total number of investors. This function can be called by anyone and returns the total count of investors in the funding phase.


Example:
uint256 totalInvestors = fundingContract.totalInvestorsAmount();

2. Execute Refund Function

Call the refundInvestors() function, providing the total number of investors as the parameter. The function will automatically burn each investor's FpUSD tokens before returning their USD stablecoin deposits.


Example:
fundingContract.refundInvestors(totalInvestors);

Bondi never has custody of user funds until the target amount is reached. The refund process maintains the integrity of the receipt system by ensuring FpUSD tokens are properly burned before any funds are returned.

Investment Process Flow​

Verification and Onboarding​

1. Identity Verification: Complete KYC procedures through the User Dashboard to gain access to funding opportunities.


2. Wallet Whitelisting: Verified wallets receive permanent authorization for current and future funding phase participation. This authorization remains active until explicitly revoked by Bondi for compliance or security reasons.


3. Chain Selection: Choose your preferred blockchain for participation.


4. Investment Selection: Choose from available funding opportunities with detailed risk assessments and projected returns.

Funding Participation​

5. Capital Commitment: Deposit stablecoins into selected funding contracts within the specified timeframe.


6. Cross-Chain Processing: Your investment is automatically mirrored across all supported chains for unified tracking.


7. Progress Monitoring: Track funding progress through real-time dashboard updates and community metrics.


8. Automatic Processing: Upon successful funding, bonds are acquired automatically through regulated custodian brokers.

Token Distribution​

9. Proportional Minting: Bond Tokens are minted and distributed according to each participant's contribution percentage.


10. Loyalty Rewards: Early participants receive additional NFT rewards based on their commitment duration and amount.

Regulatory Compliance and Security​

The Primary Market ensures that Bondi never maintains custody of user funds until successful completion of funding targets, maintaining security and transparency throughout the investment process.

Traditional Finance Integration​

The Primary Market maintains integration with traditional financial infrastructure through:


• Regulated custodian partnerships for secure bond acquisition
• Automated compliance monitoring throughout the funding process