Bondly (BONDLY)

Basics

• Based in:
• Started in / Announced on: 11-2020
• Mainnet release:
• A multi-service NFT platform

Audits

• Bug bounty program can be found [insert here].

Bugs/Exploits

• From Rekt (15-7-2021):

"Token holders are now at a loss, due to an infinite mint exploit in which the attacker made a profit of $5.9 million. As always, this may have been a rug pull, but this was not just your standard foodcoin farm.

The market had no need for 373 million new BONDLY tokens, so when the malicious actor minted and began to dump 100,000 of them at a time, the price of BONDLY fell by 80%. $4.8 million DAI was sent to Tornado, and $1.1 million in DAI and BONDLY remains on the address at the time of writing.

The Bondly announcement tweet claims the wallet was compromised by an unknown party. Was it an external attacker, or the Bondly team, who took inspiration from the case of Paid Network?"

• From Crypto Briefing (15-7-2021):

"According to analysis from PeckShield, a blockchain security firm, the illegitimately minted BONDLY tokens that the attacker received came from Bondly’s owner address through an owner transfer operation. Discussing the possibility of a rug pull, Xuxian Jiang, founder and CEO of PeckShield, told Crypto Briefing:

“It is potentially a rug pull as the owner (0x58a058ca4b1b2b183077e830bc929b5eb0d3330c) pulls the trigger in transferring out 373M $BONDLY to sell.” If not an insider job, the other possibility is that the owner’s private key was leaked, Jiang added."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on:

Roadmap

• Can be found [Insert link here].

Usage

• From Decrypt (13-3-2021):

"Bondly was behind YouTuber Logan Paul’s recent NFT collectibles, ahead of his fight with boxer Floyd Mayweather. His first set of NFTs, which he sold alongside his Pokémon card booster auction, generated over $2.4 million, according to the release.

The startup also worked with musicians Tory Lanez and PelleKon on their NFT gaming brands, dubbed PolkaPets and BCCG. According to Bondly, the brands have garnered over $4 million in revenue within three months."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Brandon Smith; CEO

Funding

• Had investment from Binance (15-7-2021).

Partners

• Atari; partnered to launch NFTs for a variety of applications (13-3-2021).
• From Rekt (15-7-2021):

"Bondly had built up a decent following, with ~47k followers on Twitter and partnerships with reasonably sized celebrities. Those celebrities included Logan Paul, whose brother Jake Paul was also affected by the Chainswap exploit just days ago. The Bondly Finance website details their work with the PolkaPets Trading Card Game, as well as their other work with digital collectibles, brands, influencers, and artists."

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