🏠Introduction to Bonzo

What is Bonzo Finance?

Bonzo Finance is a decentralized platform that enables users to lend and borrow cryptocurrencies in a secure, non-custodial manner. Built on the Hedera network, Bonzo Finance allows lenders to earn passive income by providing liquidity to the market, while borrowers can access loans by supplying collateral.

We invite you to join the Bonzo Finance community on Discord and 𝕏, where our team and fellow users are ready to assist you in navigating and making the most of the protocol.

Why choose Bonzo Finance?

Security is a top priority for Bonzo Finance. Prior to the mainnet launch, the protocol will undergo rigorous audits to ensure its integrity. As an open-source project, Bonzo Finance allows developers to create and integrate third-party services and applications, fostering innovation and expanding the protocol's capabilities.

Getting started with Bonzo Finance

To get started, simply supply one of the supported assets to the Bonzo Finance protocol. By supplying assets, you'll start earning passive income based on the market demand for borrowing. Moreover, your supplied assets serve as collateral, enabling you to borrow funds when needed. The interest earned from supplying helps offset the interest accrued when borrowing.

Transaction costs on Bonzo Finance

When interacting with the Bonzo Finance protocol, you'll incur transaction fees for using the Hedera network. The exact cost depends on the complexity of the transaction.

The security of your supplied funds

When you supply assets to Bonzo Finance, your funds are securely stored in a smart contract. The smart contract's code is open-source and will be thoroughly audited and formally verified by reputable third-party firms before the mainnet launch. You retain control over your funds, with the ability to withdraw them at any time or convert your lender position into a tradable token called bTokens.

Understanding the risks

While Bonzo Finance takes every precaution to minimize risk, no platform is entirely risk-free. The main risks associated with Bonzo Finance include smart contract vulnerabilities and the potential for collateral liquidation. However, the protocol's open-source nature and the planned audits help mitigate these risks.

For more information on risk management and security measures, please refer to the risk framework and security and audits sections of our documentation.

The role of the Bonzo token

In the future, the Bonzo token will play a crucial role in protocol governance. Token holders will have the ability to vote on Bonzo Improvement Proposals (BIPs), shaping the direction and development of the platform. Additionally, users can stake Bonzo tokens in the protocol's Safety Module, providing insurance to lenders and earning staking rewards and fees in return.

Details on the tokenomics and governance model will be outlined in the forthcoming whitepaper and expanded upon in the full documentation.

Please note that Bonzo Finance does not advertise on social media or search engines. If you encounter any advertisements claiming to be from Bonzo Finance, be aware that they are likely scams or phishing attempts.