‘Bonded’ Rebrands as Fringe Finance to Bring More Inclusion to DeFi
MELBOURNE, Australia, Feb. 22, 2022 /PRNewswire/ — Bonded Finance, a decentralized lending platform providing financial services for underserved altcoin markets, has changed its name to Fringe Finance. The main goal of the rebranding reflected as one of the seminal steps in Fringe’s 2022 roadmap, is to better capture the project’s values and improve its brand.
“We take the relatively pedestrian — DeFi lending and borrowing — and transform it, pushing its borders to the very edge. The new name, Fringe Finance, best embodies our mission to redefine economic innovation,” — commented Paul Mak, Fringe Finance’s CEO.
Aiming to provide the widest selection of altcoins accepted as collateral in the crypto market, the platform engages assets with a smaller market cap in the DeFi economy and pushes the limits of altcoin lending and borrowing. Fringe recognizes that “decentralized finance is fraught with challenges,” and aims to bring more inclusion for all parties involved, while intuitive, seamlessly connected open interfaces contribute to this mission. The platform has also reiterated in compromise with security, engaging not one but two well-known auditors, CyberUnit and HashEx.
The change has touched the native token, too: officially active from January 24th, Fringe pulled all the liquidity for the $BOND token from its CEX partners and DEX pools, and injected it into the new token dubbed $FRIN. The platform has taken on the burden of commissions: all users holding $BOND in exchanges and non-custodial wallets were airdropped $FRIN at a 1:1 ratio.
Another innovation from Fringe is its token design. Instead of making $FRIN a purely ERC-20 token, the team chose the DS ERC-20 standard, similar to the one used by the MakerDAO MKR governance token. This allows Fringe to mint and then burn governance tokens from the Treasury in edge cases that require stabilizing its USB Stablecoin Platform. $FRIN retains $BOND’s original tokenomics, as the team has confirmed that there is no need for further changes in their original design.
About Fringe Finance
Fringe Finance is a lending platform that enables broader access to decentralized financial markets, bridges the gap between established and nascent altcoin projects, and creates a network of shared value. Having identified over $100 billion in untapped altcoin liquidity, the project set out to aggregate these tokens and provide DeFi protocols via algorithm-driven ‘smart instruments’.
Through Fringe’s Primary Lending Platform, stablecoin owners earn interest on deposits, while altcoin holders can use their assets as collateral. The USB Stablecoin Platform allows users to mint Fringe Finance USD-pegged stablecoins (USB) with altcoins to gain exposure to sustainable liquidity and use it in the broader DeFi economy. And finally, FRIN Stake & Reward Platform enables FRIN token holders to earn passive income by getting a share of the fees collected by the platform.
SOURCE Fringe Finance
