Terms and Definitions in the Bitbon System

Bitbon

Bitbon is a digital asset of the Bitbon System[i], which is a utility token (access token[i]) and, based on the Bitbon Protocol[i], provides a Bitbon System Participant[i] with the scope of rights to access the Bitbon System services[i] determined in accordance with the number of Bitbon accounting units this Participant has. Bitbon accounting units are used to implement the method of measuring the exchange value of all digital assets of the Bitbon System and ensure their circulation. The Bitbon digital asset has been created by SIMCORD LLC, EDRPOU 37657823, and assigned unique attributes and properties based on the Bitbon System Public Contract[i] and Bitbon Protocol. Using Bitbon as a key component of the Bitbon System allows Bitbon System Users[i] to implement the method for accounting and management of their assets[i] through digital assets[i] for the purpose of secure and equivalent decentralized exchange of digital assets[i] in the Bitbon System[i] without intermediaries and money.

Bitbon digital asset is part of the Bitbon Protocol” information resource[i] derivative of the nonmonetary asset “Infrastructure Asset of the Bitbon System — Simcord” kept on the balance sheet of SIMCORD LLC, which in turn is derivative of the right of SIMCORD LLC to own noncurrent property. Bitbon accounting units are access (right of access) to the Bitbon System services. The Bitbon digital asset is an essential attribute of the Bitbon System Participant.

Bitbon has the following properties:

  • Accounting units can be split accurate to 0.00000001. Each fractional part of the accounting unit corresponds to certain scope of the right of access to the Bitbon System services.
  • 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 or instruments.
  • Bitbon accounting units of one Bitbon System Participant may serve as an asset of another Bitbon System User.
  • Any number of Bitbon accounting units can be transferred from one Bitbon System Participant to another Bitbon System User through an access token transaction[i] .

Additional comment:

On the official information resources of the Bitbon System[i], the term “Bitbon” can be used in different wordings depending on the context and meaning of each sentence:

  • Bitbon is a collective term used to denote the name of a digital asset;
  • Bitbon digital asset is used to specify the essence of Bitbon;
  • Bitbon access token is used to describe the capabilities and rights of Bitbon owners;
  • Bitbon accounting units; Bitbon access token accounting units are used to indicate the scope of rights to access the Bitbon System services.