February 3, 2021
SKALE + Bondly
Defi continues to be important in the blockchain and decentralized world, but getting it to the masses remains a serious hurdle. Our next use case, Bondly, is focused on just that problem and plans to bridge the gap between decentralized escrow payments and traditional marketplaces in order to bring trusted and agile Defi to everyone. Bondly is trying to eliminate the barrier of entry for new users entering the crypto and digital goods space. They will do this by providing simple yet powerful Dapps that give users flexibility in how and what they want to buy and sell.
Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods, turning everyone into their own digital marketplace. Their trust-enabling DeFi products are designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Their product BondProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces simply and easily with no integration fees, just staking tokens.
Since their launch in December, they introduced their own collectible NFT card game, which has produced over $3M in trading volume. They also created digital marketplaces through their NFT launchpad for other cryptocurrency projects such as Bridge Mutual and Kylin Network, which both sold out in less than 2 minutes. Additionally, they launched version 1 of the BSwap platform, with NFT support and will soon be offering NFT to NFT swaps.
They chose the SKALE network as a partner since they believe layer 2 solutions are an important step towards mainstream adoption of Ethereum based Dapps. Currently, gas prices are a huge barrier to entry for many consumers. Since Ethereum is the top smart contracts platform, it’s important to have a layer 2 solution for their users. Without a solution like SKALE, fees are too high to be viable for both small users and large marketplaces.
What SKALE features are Bondly utilizing?
Bondly is focused on using SKALE as a means to dramatically reduce gas costs on Ethereum.
What Bondly is saying about SKALE
“We look forward to working closely with SKALE and their layer 2 solution, which will help facilitate the trading of NFTs and digital assets to the non-crypto world with lower fees than most eCommerce sites.” - Brandon Smith, CEO