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Bonds module specification


This document specifies the bonds bodule; a custom Cosmos SDK module.
The bonds module provides universal token bonding curve functions to mint, burn or swap any token in a Cosmos blockchain. Once the Inter-Blockchain Communication (IBC) protocol is available, this should enable cross-network exchanges of tokens at algorithmically-determined prices.
The bonds module can be deployed through Cosmos Hubs and Zones to deliver applications such as:
  • Automated market-makers (like Uniswap)
  • Decentralised exchanges (like Bancor)
  • Curation markets (like Relevant)
  • Development Impact Bonds (like ixo alpha-Bonds)
  • Continuous organisations (like Moloch DAO)
Any Cosmos application chain that implements the Bonds module is able to perform functions such as:
  • Issue a new token with custom parameters.
  • Pool liquidity for reserves.
  • Provide continuous funding.
  • Automatically mint and burn tokens at deterministic prices.
  • Swap tokens atomically within the same network.
  • Exchange tokens across networks, with the IBC protocol.
  • (Batch token transactions to prevent front-running)
  • Launch a decentralised autonomous initial coin offerings (DAICO)
  • ...other DeFiant innovations.


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