Terms and Definitions in the Bitbon System

IBO (Initial Business Offering)

IBO (Initial Business Offering) is a process in the Bitbon System[i] which is launched by the Bitup-Agency[i] in order to attract the number of Bitbon[i] accounting units specified in the Projectbon Protocol[i] from Contributors[i] for implementing the Contractat’s[i] business project.

The IBO process starts when the Bitup-Agency adds the IBO Certificate[i] of a specific project to the IBO Register[i]. From this moment on, the terms and conditions of the Projectbon Protocol of this business project automatically come into force.

The IBO process is completed when Contributors determine their shares in the amount of 100% of the total number of Projectbon[i] accounting units of a specific business project.