Bonds

Unlock the potential of DeFi through an open marketplace to buy/sell bonds on NEAR Protocol

What is a Bonds Market?

Meta Pool created the bond market for the locked positions on its launchpad. Bonds can represent NEAR or project locked tokens and this can be sold or auctioned.

How does the Meta Bonds work?

Access to Meta Bonds can be found directly from its link https://www.metapool.app/bonds.

Users can support early-stage projects using Meta Yield Launchpad. After the raising campaign supporters get project tokens at an early-stage price in exchange for their locked investment.

Once the Funding Period is over, Meta Bonds generates two bonds for the supporter:

1. First Bond: In NEAR tokens. This amount corresponds to the valuation in NEAR of the stNEAR locked at the end of the Funding Period.

2. Second Bond: Project Tokens to be released with a cliff and then a gradual release.

These bonds are the ones that can currently be traded in the Meta Bonds.

What are the benefits of using Meta Bond Market?

The benefits of using Meta Bond Market are:

• Users can trade and liquidate their Bonds without having to wait for the due date

• Late supporters can acquire Project Tokens (Bonds) at convenient prices

What bonds are offered at Meta Bond Market?

The bonds generated by supporting projects in Meta Yield Launchpad:

1. Bonds in NEAR, equivalent to the support provided to the project, 6 or 12 months maturity.

2. Bonds corresponding Project Tokens, 3, 6 or 12 months maturity, with gradual release.

Other Bonds will be added shortly, for example, Project Bonds minted by whitelisted projects themselves.

How can I purchase a bond?

1. Go to: https://www.metapool.app/bonds.

2. Review the bonds available for purchase in the Bond Market.

3. Select the bond you would like to purchase.

4. If it is a direct sale bond, it can be purchased directly. If it is an auction you can make an offer.

5. To get more information about the bond, simply click on it. The following information is displayed:

   • For all bonds:

     1. Bond information: amount and token symbol

     2. Owner: Wallet that put the bond up for sale.

     3. Base price: Initial price of the offered bond. (Approx. Valuation in USD).

     4. Time remaining: Remaining time to be able to bid / acquire this bond.

     5. Due date: Date the Bond matures and 100% of funds are available to withdraw.

     

   • For Gradual Release bonds this extra information is added:

     1. Cliff date: Start period when the bond will start gradual release

     2. Available now / Remaining: Amount of the bond that is already available to claim and the remaining amount.

     3. Latest bid: the last offer made for this bond (only visible in auction).

     4. Bid by: Wallet that made the last bid for this bond. You can buy or bid on the bond at this point:

     

6. You can buy or bid on the bond at this point:

   1. Input the amount to purchase / bid and click:

      • Direct sale: Click [Buy]

      • Auction: Click [Submit bid]

How do Auction works?

If a user bids for a bond at auction, they can see the status of the bid in MY BIDS section.

There are 4 states of the bid to a bond at auction:

Active sale period

1. Losing: This offer was outbid. The user can increase the offer or withdraw the current offer.

2. Winning: This bid is the best, it is the one that is winning. The user must wait for the completion (sale ends) to see if he actually won.

Bid Status when the Sale period ends

1. Win: The bid at the end of the bidding period is the winning one. The user can claim the bond.

2. Lose: The bid at the end of the bidding period a the loser one. The user can withdraw the funds backing the bid.

How do Direct Sale works?

If a user buys a bond that was offered in Direct sale. When making the purchase, the bond will appear directly in the "My Bonds" section.

What is the difference between Auction and direct sale?

Auction: the seller sets a base price and the end time for the auction. During that period, buyers will be able to bid. The buyer who offers the highest amount will be the purchaser of the bond at the end of the bidding period.

Direct sale: the seller sets a price and the end time for the sale. During that period any buyer can directly buy that bond for the sale price.

In both cases: if at the end of the period set by the seller, no offers have been received for that bond, it will no longer be for sale.

Why is 1 NEAR requested from the seller when setting up the sale of the Bond?

This amount is requested to back the storage required for the sale and to avoid spam on sales. At the end of the sale period, the seller can claim this deposit amount back.

Can a sale of a bond be canceled before the sale ends?

No. A bond offered for sale will appear on the list of bonds offered for the full duration of the period.

How is the price of a bond defined?

The bond owner can propose a fixed price or put in auction to make a price discovery.

What happens with the Tokens of my sales?

Once a sale has been made or the end time of the bond has been reached, the seller will be able to see the status of his sale in the "My Sales" section. This section allows:

• View the status of sales.

• See the details of the bonds.

• Put bonds that have not been sold back on sale.

• Return not sold Bonds to the "My bonds" section and recover the sale guarantee deposit.

• Withdraw the profits obtained from the successful sale of a Bond INCLUDING the amount requested as guarantee.

Important: All these actions are carried out manually when the sale period ends.

Bonds changes the lock period?

No, lock period keep the same even when the a bond is sold.

When I get my bonds after a campaign on launchpad ends?

It take from 1 to 3 days due that still requires manual operation to create the bonds. We are looking for the best way to automatize this.

Can I create my own bonds to put them up for sale?

Not for now. But the platform allows you to split one Bond into two smaller bonds. And you can also merge bonds that have exactly the same characteristics (asset, due date and cliff date if applicable).