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https://github.com/gridiron-zone/bonds

The Bonds module is a custom Cosmos SDK module that provides universal token bonding curve functions to mint, burn or swap any token in a Cosmos blockchain. In the future, once the Cosmos Inter-Blockchain Communication (IBC) protocol is available, this should enable cross-network exchanges of tokens at algorithmically-determined prices.
https://github.com/gridiron-zone/bonds

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The Bonds module is a custom Cosmos SDK module that provides universal token bonding curve functions to mint, burn or swap any token in a Cosmos blockchain. In the future, once the Cosmos Inter-Blockchain Communication (IBC) protocol is available, this should enable cross-network exchanges of tokens at algorithmically-determined prices.

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README 

        
# Bonds Module



The Bonds module is a custom [Cosmos SDK](https://github.com/cosmos/cosmos-sdk) module that provides universal token bonding curve functions to mint, burn or swap any token in a Cosmos blockchain.



In the future, once the Cosmos Inter-Blockchain Communication \(IBC\) protocol is available, this should enable cross-network exchanges of tokens at algorithmically-determined prices.



The Bonds module can be deployed through Cosmos Hubs and Zones to deliver applications such as:



* Automated market-makers \(see [Uniswap](https://uniswap.io)\)

* Decentralised exchanges \(see [Bancor](https://bancor.network)\)

* Curation markets \(see [Relevant](https://github.com/relevant-community/contracts/tree/bondingCurves/contracts)\)

* Development Impact Bonds \(see ixo alpha-Bonds\)

* Continuous organisations \(see [Moloch DAO](https://molochdao.com/)\)



> [Hayek famously said](https://books.google.co.uk/books?id=Udi_BwAAQBAJ&pg=PA32&lpg=PA32&dq=%22prices+are+an+instrument+of+communication+and+guidance+which+embody+more+information+than+we+directly+have%22&source=bl&ots=LMFRhcW0QS&sig=ACfU3U0I6_J3_uBI96ZFKAxCo-p6yh_eNg&hl=en&sa=X&ved=2ahUKEwimguWHpOjmAhWFTBUIHQCYASYQ6AEwAnoECAkQAQ#v=onepage&q=%22prices%20are%20an%20instrument%20of%20communication%20and%20guidance%20which%20embody%20more%20information%20than%20we%20directly%20have%22&f=false) that "...prices are an instrument of communication and guidance which embody more information than we directly have".



## Module functions



Any Cosmos application chain that implements the Bonds module is able to perform functions such as:



* Issue a new token with custom parameters.

* Pool liquidity for reserves.

* Provide continuous funding.

* Automatically mint and burn tokens at deterministic prices.

* Swap tokens atomically within the same network.

* Exchange tokens across networks, with the IBC protocol.

* Batch token transactions to prevent front-running

* Launch a decentralised autonomous initial coin offerings \([DAICO](https://ethresear.ch/t/explanation-of-daicos/465)\)

* ...and other **DeFi**ant innovations.



## Pricing algorithm libraries



The Bonds module framework supports libraries for all types of pricing algorithms, such as:



* Exponential

* Logarithmic

* Negative exponential

* Constant product

* Positive initial price

* Quasi-polynomial

* Reserved Supply \(Augmented\)



Each formula is specified within the module library. This includes:



* Derived Mint equation

* Derived Burn equation



Updates to the module pricing functions must pass through a network governance process to update the module on all nodes, for changes to be made. This is an important security feature.



## Parameters



Each bond has an initial set of constant state \(invariant\) parameters that cannot be updated once these have been initialised. Parameters include:



* Pricing function \(the algorithm that will be used\)

* Issuer

* Token name

* Token symbol

* Reserve wallet address

* Transaction fee rate

* Exit tax rate

* Fee wallet address

* Maximum token supply

* Order quantity limits

* Sanity rates



When a bond transaction \(such as buy, sell, swap\) is submitted, this includes the variable parameters:



* Order quantity

* Maximum price

* Wallet address



Some of the parameters of the bond may be edited:



* Token name

* Sanity rates

* Order quantity limits



## Building and Running



**Note**: Requires [Go 1.13+](https://golang.org/dl/)



This repository is set up as a Cosmos SDK application and contains the Bonds module under `./x/bonds/`.



To build and run the application:



```bash

make run

```



Alternatively, to run with one of the users set up to use Ledger:



```bash

make run_ledger

```



To build and run the application with some preset accounts:



```bash

make run_with_data

```



### Demos



To run a demo \(requires application to be run using `run_with_data`\):



```bash

make demo

```



The demo consists of:



* Bond creation

* Bond querying

* A mix of buys and sells



To run a more specific demo, check out the `scripts/more_demos/` folder.



## Tutorials



Guided tutorials are also provided and can be found in the tutorials folder [here](tutorials/)!