Terms and Definitions

Contributor means a Bitbon System User[i] who exchanges his/her Bitbons[i] for Projectbons[i] to receive a certain amount of benefit from Contributing[i] and thereby participates in the implementation of the selected business project.

The number of projects where the Bitbon System User can participate is unlimited. However, he/she will be a Contributor for each project separately.

Declaring his/her participation in a particular business project by exchanging Bitbons for Projectbons of the selected type, the Bitbon System User obtains the status of a Contributor.

The Contributor, at his/her sole discretion, decides to participate in a business project based on personal interest.

In general, the Contributor’s activity is aimed at receiving an additional benefit, which is determined in direct proportion to his/her share in Projectbons and automatically distributed among the Contributors of this project under the terms of the Bitbon Public Contract[i].

The Bitbon Public Contract of a specific project defines additional rights and obligations of the Contributor as one of its independent parties.

Bitbon System User means a Bitbon System Participant who uses Bitbons and/or Projectbons to conduct his/her activity in the Bitbon System.
Bitbon means a digital derivative financial instrument having an identifier and nominal value in the amount determined in accordance with the procedure stipulated by the Bitbon Public Contract, which corresponds to a certain part of property rights to Assets designated in Bitbons or Projectbons. 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 as data that cannot be deleted or modified.
Projectbon means a derivative instrument from a specific class of the Bitbon Public Contract intended for Contributing, which has unique attributes and properties with the ability to circulate only in the Bitbon System under the terms and conditions specified in the Bitbon Public Contract of a specific project. Projectbon represents obligations of the Contractat to the Bitbon System Users expressed in a legal form as well as an actual opportunity to monitor the fulfillment of obligations of the Bitbon System Users as a whole.
Contributing means a type of activity of a Bitbon System User aimed at receiving additional income from participation in the implementation of the selected business project under the terms and conditions of the Bitbon Public Contract of this project. The Contributing process starts when the User exchanges available Bitbons for Projectbons. The value of the Contributor’s Benefit is directly proportional to his/her share in Projectbons. The benefits of Contributing are shown as the income received in accordance with the amount of Projectbons that the Contributor is entitled to dispose of, at his/her sole discretion, at any stage of the business project implementation.
Bitbon Public Contract means a digital document of a certain class according to the classifier accepted in the Bitbon System, which defines and regulates: rights and obligations of the Contractat, Bitup-Agency and Contributors as well as the procedure, manner and conditions of their relations as three parties to the Bitbon Public Contract of a specific project; field of Projectbon use as well as all products and operations that may be applied to Projectbon. The Bitbon Public Contract of a specific project can define the terms and procedures for Projectbon issuing, Bitbon and Projectbon transfer rules, procedure for repurchasing Projectbons from the Contributor as well as the reference to the procedure for evaluating Assets.