Terms and Definitions

Projectbon means a derivative instrument from a specific class of the Bitbon Public Contract[i] intended for Contributing[i], which has unique attributes and properties with the ability to circulate only in the Bitbon System[i] under the terms and conditions specified in the Bitbon Public Contract of a specific project. Projectbon represents obligations of the Contractat[i] to the Bitbon System Users[i] 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.

Projectbon attributes are:

  • Identifier — a unique sequence of alphanumeric characters;
  • Classifier — a systematized list of types of Bitbon Public Contracts, each of which has a unique code corresponding to its properties;
  • Unique commercial name assigned by the offeror of the Bitbon Public Contract of a certain class;
  • Number of issued Projectbons;
  • Own independent value in relation to Bitbon[i] determined by the offeror;
  • Records in the Blockchain[i], which register all operations with Projectbons;
  • Bitbon Public Contract of a certain class.

Projectbon has the following properties:

  • Using Projectbons, Users can determine their shares in a project (can transfer, buy or sell them);
  • Ability to split Projectbon is guaranteed; the level of splitting the nominal value determines the share;
  • Ability to create Indexbons[i] by the Contributor[i] for more efficient management of his/her Assets[i];
  • Projectbon is an integral part of the Bitbon Capitalization[i];
  • Determining the Contributor’s Benefit[i] by means of automatic redistribution of shares.
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.
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 System means an integral decentralized system based on the Blockchain technology, which is basically a platform for implementing Contributing under the terms and conditions of Bitbon Public Contracts of various projects and managing legal relations between the Bitbon System Users, the key component of which is Bitbon.
Contractat means a company (legal entity registered and operating in accordance with the requirements of jurisdiction of which it is a taxpayer), or an individual, i.e. a person, participant of civil and other legal relations (holder of rights and obligations). The Contractat initiates creation of the Bitbon Public Contract of his/her own project, which is accepted into the Bitbon System on the basis of admission to the IBO (Initial Business Offering) by the Bitup-Agency.
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.
Blockchain means a public distributed ledger, which constitutes a sequential chain of generated transaction blocks built according to certain rules. At the same time, each subsequent block of the structure contains information about the previous block, so on the whole, the chain stores the entire history of completed transactions.
Indexbon means an instrument for Contributing created by a Contributor by combining shares or their parts from various Projectbons he/she possesses in order to manage his/her Assets more conveniently and efficiently.
Contributor means a Bitbon System User who exchanges his/her Bitbons for Projectbons to receive a certain amount of benefit from Contributing and thereby participates in the implementation of the selected business project.
Assets mean property that is legally owned by the Bitbon System User, including real estate, bank deposits, machinery and production equipment, securities, patents, trademarks, know-how, shares in statutory funds and in other companies, shares in various projects with legal entities and individuals, Bitbons or Projectbons of another Bitbon System User and other assets.
Bitbon Capitalization means a self-regulatory process aimed at increasing the profit of the Bitbon Capitalization Fund designated in Bitbons and Projectbons of certain shares with the reference to the procedure for evaluating Assets in accordance with Bitbon Public Contracts of certain classes.
Contributor’s Benefit means the most active part of the Benefit of the Bitbon System User, which allows you to apply your knowledge and skills while choosing a certain type of Projectbon in order to obtain additional income designated in Bitbons under the terms and conditions described in the Bitbon Public Contract of a specific project.