Terms and Definitions

Bitbon

means a digital derivative financial instrument[i] having an identifier and nominal value in the amount determined in accordance with the procedure stipulated by the Bitbon System Public Contract[i], which corresponds to a certain part of property rights to Assets[i] designated in Bitbons or Projectbons[i]. Any operations with Bitbon (Bitbon issuing, its transfer from one owner to another, splitting of nominal value and other operations) are recorded in the Blockchain[i] as data that cannot be deleted or modified.

Bitbon attributes are:

  • Identifier — a unique sequence of alphanumeric characters;
  • Nominal value — a positive real number corresponding to a part of property rights to the Bitbon System[i]:
  • Records in the Blockchain, which register all operations with each Bitbon;
  • Bitbon System Public Contract.

Bitbon has the following properties:

  • Ability to split the nominal value 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 User 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 is transferred from one Bitbon System User 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.