Terms and Definitions

Bitbon

means a Digital Asset[i], an instrument derived from Divaunit[i] by means of Projectbons[i], which belong to the Bitbon System Capitalization Fund[i]. Bitbon is represented as an alphanumeric identifier and registered in the Blockchain[i] with an ability to circulate only in the Bitbon System[i]. The Bitbon Digital Asset is a unit of measurement of the exchange value of all Digital Assets and ensures their ability to circulate in the Bitbon System. This Digital Asset is created and given unique attributes and properties based on the Bitbon System Public Contract[i] and the Bitbon Protocol[i]. The use of Bitbon allows establishing and controlling legal relations between the owner of the Asset[i] and the owner of the Digital Asset as well as mutual relations of the Bitbon System Users[i], whereby only the transferrable right of claim of the owner of the Digital Asset to the owner of the Asset can be in circulation, which is aimed at fulfilling the obligations set by the owner of the Asset and derived from the property right to the Asset (right to own, use and dispose of the Asset) under the terms and conditions recorded in the relevant Digital Asset Protocol[i].

Bitbon has the following properties:

  • Ability to split the nominal value[i] with unlimited accuracy is guaranteed. Each fractional part of the nominal value corresponds to a certain part of property rights to Assets;
  • Bitbon is issued in accordance with the Bitbon System Public Contract;
  • Bitbon can be used as an instrument for trading on the exchange;
  • Bitbon can be used for calculating the index or any other financial derivatives, instruments;
  • Bitbon of one Bitbon System Participant[i] may serve as an Asset of another Bitbon System User;
  • It is guaranteed that any part of the Bitbon nominal value in the form of a new Bitbon Identifier[i] is transferred from one Bitbon System Participant to another Bitbon System User;
  • Ability to define rules of Bitbon processing before the occurrence of an event which the Bitbon System User (owner of property rights to Assets) specifies limiting the Bitbon application field.