The Bondly v1 whitepaper was designed to articulate the team’s bold vision of launching a cross-swap NFT architecture on Polkadot’s parachain.
The project launched with incredible fanfare and quickly surpassed $700M in market cap just weeks after its launch on Uniswap.
Our firm took the visionary concept from Bondly’s founder, Brandon Smith, and created the Bondly whitepaper, warmly referred to as the “Bondpaper.” Read below to learn more about our process.
At the time of its creation, Bondly incorporated novel technologies that were both complex and difficult to understand. As an example, it sought to solve the problem of cross-chain interoperability of NFT and tokenized assets and approached the solution using Polkadot’s substrate-level parachains. Even at the time of this writing, little is known about how these parachains will be issued and the cost to acquire them – less is known about the technical architecture and practical implementation, other than Polkadot’s own published literature.
Our task was to distill this concept down to an easy to understand explanation, which resulted in the use of diagrams to show the relationship between parachains (which we named the “Spectre Contract Parachain”) and bridge modules (which we called the “Goldfinger Bridge”). Both names are a nod to Bond film releases – the inspiration behind the Bondly name.
Additional complexities in the architecture and topology of the platform required simplified explanation that was only possible through the implementation of diagrams.
Thus we initially hand sketched various diagrams to articulate the functionality of the Bond Swap mechanism and the relationship between multiple parties. This was then illustrated graphically and incorporated into the whitepaper design.
Careful observance of Bondly’s thematic elements such as its deep blue colors resulted in their incorporation into the design language of the diagrams.
Bondly has achieved incredible success and is a hallmark representation of the exceptional work performed by our firm. However, its current meteoric token performance would not be possible without a carefully crafted token economic model.
At the center of this was a conservative vesting and lockup period where a large portion of the tokens were not made immediately available to pre-sale investors, the team, founders, advisors and the reserve – while still fairly providing immediate liquidity for public token sale holders.
In addition, ICP worked closely with Bondly to target conservative pre-sale raise amounts, while also structuring the token sale and equity valuations.
As with all of our projects, our process starts with the content development and writing. We worked closely with the Bondly team to ensure their ideas were memorialized in writing. Our process involves the development of a partial draft for a mid-cycle check-in, followed by a final draft for collaborative review.
Even our diagrams are rough illustrated in PPT by yours truly, before they are submitted to our design team for final design. Everything about our process has been structured over the course of the development of nearly 50 whitepapers. However, the most important aspect is in the knowledge and expertise of the author – and so far, few are able to match the caliber of work produced by ICP.
The results speak for themselves, not only did we produce an exceptionally written and designed paper, but we did so for a world-class team. Through the tireless efforts of Brandon, Harry and the team, Bondly launched with high-praise. Shortly after its launch, it achieved centaur status, reaching over $700M in fully diluted market capitalization as tracked by CoinMarketCap. As of this writing it sits north of $530M as it continues to announce new partnerships, NFT sales and platform launches.
Bondly claims that its whitepaper was the single most effective tool in its capital raise and driving awareness to its product and platform. We don’t disagree. In fact it has used this to secure a partnership with Cardano, the very first project to do so.
ICP continues to work with Bondly, as it seeks to enhance its platform and issue out new product initiatives.
Bondly has found market leading traction in the NFT space, using its proprietary swapping technology to enable on-chain swaps and NFT launches. It launched this technology with the sale of Logan Paul NFT cards, which generated well over $4M in sales. To date, Bondly is estimated to generate some $14M in total sales, in just a few months from launch. In fact, very few of even the top blockchain platforms can claim to make this type of revenue.
ICP is currently involved in the development of the v2 whitepaper. Stay tuned.