Terms and Definitions in the Bitbon System

IBO (Initial Business Offering)

IBO (Initial Business Offering) is a process in the Bitbon System[i] launched by a Bitup-Agency[i] in order to attract the number of Bitbon[i] digital asset units[i] specified in the digital asset protocol[i] of a specific commercial project[i] from Stakeholders[i] in order to implement the Contractat’s[i] commercial project.

IBO begins when a Bitup-Agency enters the IBO certificate[i] of a specific commercial project[i] into the IBO register[i]. From that moment onwards, the terms and conditions of the digital asset protocol[i] of this commercial project automatically come into effect.

IBO ends when the share of Stakeholders equals 100% of the total number of digital asset units of this commercial project.