www.bon.

finance
[email protected]

Wh i t epaper
by BonFi Org.
www.bon.finance

Abstract
Our mission is to bring innovation to Decentralized Finance (DeFi) by transitioning to a
universally more beneficial liquidity pool operating model. By launching the BonFi
platform, we will enable the crypto community to seize the advantages of Artificial
Intelligence, Data Oracles, and Quantitative Analysis to build a more beneficial and
decentralized open finance liquidity pool solution.
BonFi is complemented by the AI-powered BonVest, a liquidity pool service helping users
optimize their yield farming portfolios. It expands the DeFi financial product offering
using open source technology, decentralized governance, smart contract staking and data
oracles to optimize liquidity pool mining. The BNF governance token functions as an entry
piece for the community to become members of the BonFi ecosystem. It concurrently
functions as a gateway to directly influence the future direction of the organization.

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Contents

01 Introduction
Welcome to BonFi

02 Mission & Vision

Transforming DeFi

03 Objectives
Setting goals

04 BonFi Platform
Opening finance

05 Advantages
Setting new standards

06 BonFi Dao
Designing governance

07 Tokenomics
Building the foundation

08 Roadmap
Planning the future

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Introduction 01

The rise of Decentralized Finance (DeFi) and its use for financial inclusion and transparency has grown
substantially during the past three years. Financial market volatility and the emergence of decentralized
infrastructure, offering greater security and lower risks, are the two leading factors for this growth. DeFi provides
a new way to create and engage with financial services for existing market participants and cements its place as
part of the finance industry by expanding market participation and access to dormant pools of liquidity. These are
provided by individuals who were either non-participants or excluded from traditional financial markets. In
combination with the upsurge of stablecoins and asset-backed tokens, DeFi disrupts and transforms credit/loans,
insurance, marketplaces, and banking with new forms of governance models, transparency, data credibility, and
inclusion.
It is only a matter of time until many of the existing financial services become available within the DeFi ecosystem.
The DeFi industry is currently following the early footsteps of the inception of “modern banking.” Modern banking,
as we know it today, materialized by the end of the 16th century and during the 17th century. The traditional
banking functions of wealth management, such as accepting deposits, safekeeping, money lending, interest rates,
and transferring funds, were combined with bank debt issuance. Fast forward to 2020, and all of these traditional
banking functions still exist today in the emerging DeFi space. While this currently is DeFi’s biggest strength, it also
exposes fundamental flaws with the existing liquidity pool service offerings due to flawed token staking
economies.

Sector Key Issues

– Accredited Investor – Minimum Capital

Wealth Requirements Requirements
Management – Opaque Governance – Low Investment Yield
– High Management Fees – Long Contractual Lock-ups

– Supply Inflation – Rigid Infrastructure

Staking
– Lack of Features – Lack of features beyond
Economy – Lack of user empowerment staking itself

Meanwhile, banks struggle with the fact that their core service offerings may erode with the emergence of new
DeFi and FinTech solutions that empower the user rather than the banking institutions. However, banks currently
still retain significant advantages utilizing highly sophisticated, specialized, and proprietary tools, programs, data,
and strategies. In particular, financial institutions leverage new developments in Artificial intelligence (AI),
specifically in Deep and Machine Learning, to retain a competitive advantage. An example of this is an Equity
Exchange-Traded Fund (ETF) that leverages proprietary AI, Robotic Process Automation (RPA), or Quantitative
Trading market strategies.
Hence, to further advance the current DeFi industry, we require adopting the aforementioned proven
technologies to explore new product offerings.

We welcome you to DeFi 2.0,

Welcome to BonFi!
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Mission & Vision 02

Mission
Innovating Decentralized Finance (DeFi) - Transitioning to a universally more beneficial liquidity pool operating
model.

Vision
We enable the crypto community to seize the advantages of Artificial Intelligence, Data Oracles, and Quantitative
Analysis to optimize their liquidity mining pool strategies. Our system streamlines the DeFi value proposition and
popularizes the use of digital assets. Ultimately, we aim to be the go-to platform for users looking for a
decentralized liquidity pooling service. Our ambition is to provide high utility, balancing risk, and reward using
sophisticated AI solutions.

Objectives 03

The overall goal is to build a distributed ledger-based liquidity mining solution that streamlines user experience.
Moreover, to harness the power of advanced tools and eliminate the need for intermediaries. We have set out to
achieve the following objectives:

Factor DeFi Status Quo Objectives

Artificial Intelligence Funds are managed manually or by basic trading bots, Integration of AI technology is necessary to optimize
(AI) Advantages which do not seize all opportunities and are high risk. liquidity mining strategies.

Portfolios are often constructed using simple metrics. To allocate crypto assets efficiently, we have to create
Portfolio
For instance: cryptocurrencies with high market value an optimal liquidity pool service that balances and
Optimization
or high-risk digital assets. considers risks and staking rewards.

The majority of DeFi solutions have penalties in place Digital asset fees and transaction costs are low &
Low-to-zero fees that cause a sizable amount of users to liquidate their levied per each participant’s transactions on the
assets. network.
A decentralized governance model requires an
Trust-based Most DeFi projects rely entirely on trusted financial ecosystem that incentivizes its participants to manage
Governance Model intermediaries. the platform in collective interests.

Most DeFi projects do not have sufficient digital asset Secure custody of assets utilizing secure cold storage
Digital Asset protection mechanisms, and are not transparent technology and authentication mechanisms are
Protection about the storage of user assets. standard.

Restrictive of portfolio changes. While most DeFi For a DeFi solution to efficiently accommodate users,
Scalability solutions provide a streamlined experience, it still it should be readily available, easy to use, and be
requires a steep learning curve. easily transferable.

Adhering to global digital currency-specific regulatory

Regulatory An increasing number of different countries slowly
frameworks is necessary for widespread community
compliance enact new legislative directives for digital currencies.
adoption in different jurisdictions.

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Platform 04

4.1 The BonFi Platform

BonFi is a multilayered open finance liquidity mining platform complemented by the AI-powered BonVest. This
liquidity pool service helps users optimize their liquidity mining pool strategies. It expands the DeFi financial
product offering by combining smart contract staking, quantitative analysis to optimize staking rewards for users.

– As an open finance liquidity mining service platform, BonFi is built on the Ethereum blockchain and
uses an ERC-20 token denoted as BonFi (BNF) for its governance.
– BonVest utilizes state-of-the-art technology, such as AI, Data Oracles and Quant Trading to achieve
benefits for users independently.
– User gain access to the BonVest through smart contract staking assets on the BonFi App, using a Tier
and Perk system. This system provides governance privileges and the BonFi Tier Table (refer to
Section 4.4 for additional information).
– Users interact directly with the platform without having to worry about complex terms or penalties.
– If users deposit crypto assets into the BonFi platform, these assets will be wrapped using an ERC-20
token, the bonToken (refer to Section 7.4 for additional information), to separate the utility of the
BNF token from the value of the underlying asset.
– Minimums or fixed terms are always communicated and users are always in control of their assets.

4.2 BonVest

The Finance industry is a crucial driver for the innovation of proprietary AI technology. There are various examples
of use cases in banking and finance, such as fully automated investment execution, algorithmic trading, fraud
prevention, and credit evaluation. Through machine and deep learning, elite investment funds continuously
outperform markets by leveraging data and information (e.g., Big Data, Market Data, Machine Data). Harnessing
proprietary AI's power, BonVest taps into Data and Oracle feeds (e.g., ChainLink) to rapidly identify opportunities,
track and extrapolate market indicators. Through the effective use of the AI system, the platform's liquidity
placement decisions will produce benefits for its users.
BonVest's proprietary Artificial Intelligence (AI), Data Oracles and Quantitative Data Analysis are capable of:

– leveraging advanced data analytics; – collecting time-series price action data;

– evaluating assets and track market trends; – mapping complex data patterns;
– gathering market sentiment data; – utilizing its predictive analytics to optimize
liquidity pool mining.

Deploying AI solutions do not come without challenges. It is essential to highlight the importance of verifiability
and audibility. Understanding how the AI derives its conclusions may be obscure for human interpretation.

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4.2 BonVest cont.

In recent years, numerous studies show that state-of-the-art AI algorithms can predict the traditional stock market
and cryptocurrency market prices. Financial market prices are influenced by multiple factors, including complex
non-linear time-series information, behavioral (sentiment, blockchain activity), and technical (historical prices,
technical trading indicators) data. By aggregating these different data points, we can develop accurate and robust
predictions algorithms. Moreover, rigorous data cross-validation and standardization scheme must be used to
avoid training biases such as statistical under- and overfitting. Otherwise, the model may inaccurately capture
information and noise in the underlying data.
Finally, data quantity, quality, and relevance play a crucial role in enabling predictive market models to be
accurate. Therefore, the development of a market intelligence database fed by custom-built web-crawlers and
real-time API feeds harnessing advanced feature engineering techniques, provides a solid foundation for the
deployment of robust prediction engines. AI will contribute to leapfrogging archaic solutions that are no longer
relevant for open finance.

4.3 BonVest AI – Deconstructed

The BonVest AI (BonAI) is planned to access various analysis engines, and oracle feeds in real-time. It combines
predictive modeling algorithms to rate, score, understand, and interpret information. This process allows for
autonomous decision-making while being future proof against potential verifiability requirements.

Behavioral Data
(Sentiment, Cross-Correlation Crypto Market Real-time
Price Prediction
Network Activity, Data Data Prediction Engine
Market Events)

Price prediction based on behavioral economics data, cross-correlation with crypto markets and traditional markets, and
historical price action.

Behavioral Data
Technical
Crypto Market (Sentiment, Predictive
Indicators (large AI Algorithm
Data Network Activity, Indicators
indicator library)
Market Events)

Buy/Sell signal generation based on market events, technical trading indicators, and price action forecasts. Uses Price
Prediction Engine for real-time price forecasts, which are contextualized with relevant market and technical indicator
information. Flexible time-frames (e.g., from high-frequency to mid-term swing movements)

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4.3 BonVest AI – Deconstructed cont.

Behavioral Data Real-time Risk

Macroeconomics Crypto Market Market Risk
(Risk Sentiment, Assessment and
Data Data Evaluation
Market Events) Adjustment Engine

Evaluation of macro-economics data (e.g., consumer price index (inflation), stock market valuations) in combination with
behavioral data such as risk sentiment/appetite and historical price action allows for real-time risk assessment and
adjustment.

Market
Automated Data Mining Advanced Feature Intelligent Database
Intelligence
(Web Crawlers, API feeds) Engineering Management
Database

Development of a market intelligence database based on automated data mining, feature engineering, and intelligent
database management.

4.4 The BonFi Tier System

The BonFi platform divides the staking model into 3 BonFi Tiers. Each tier allows for customization based on
different user preferences for:
User Preference(s)

Staking amount Legendary

Tier(s)

Staking duration Professional

Underlying digital asset Rookie

Users can freely choose their preferred Tier and Perks. Users are incentivized with bonuses if they stake BNF,
resulting in greater staking rewards.

Users can buy & sell BNF tokens through exchanges. They are also able to stake BNF on the BonFi Platform. There
are no minimum deposits. Supported deposit coins/tokens other than BNF (e.g., BTC, ETH, LTC) automatically
convert into equivalent bonTokens before receiving rewards through the BonFi Platform.

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4.4 BonFi Referral Program

Referrals:
Through our referral program, the person making the referral and their friend(s) receive a $25 bonus in BNF with
each successful sign-up and valid transaction. Users are required to stake at least $50 in BNF for a period of 1
month in the BonFi Platform to be eligible for this promotion. The BonFi referral program features:

– No referral limits; Refer as many friends as possible

– Both the referrer and referee will receive 25 USD in BNF – Credited instantly after both referrer and
referee made a valid transaction (staking for a period of 1 month) on the BonFi Platform.

Notes: BonFi Org. reserves the right to change the terms or cancel the referral program at its discretion.

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Advantages 05

The BonFi ecosystem is designed around the concept of open finance. It brings a sophisticated liquidity pool
optimization service to the market. Not only does the BonFi ecosystem provide new products for users to stake
digital assets, but also leads the way for the next iteration of Decentralized Finance: DeFi 2.0

Governance
BonFi is supposed to be managed by a decentralized As part of the BonFi ecosystem, BonVest helps
community of BNF token holders. BNF is used to optimize liquidity mining pool strategies. It provides
facilitate on-chain governance and is used to reach a new and sophisticated service offering to the DeFi
Tiers that unlock Perks with BonVest. market to optimize yield farming yields.

‒ Ability to build a global community ‒ Creating a comprehensive multilayer platform

‒ Expand service scale through community ‒ Able to stake a wide variety of digital assets for
governance staking rewards
Purpose

Purpose
Purpose

Purpose

‒ Accessing the DAO and community voting ‒ Reducing costs and fees
system, governing the future direction of BonFi ‒ Utilizing a proprietary AI system to drive
‒ Creating accountability, ensuring that the competitive advantages
ecosystem effectively serves the needs of ‒ Providing a professionally managed liquidity
collective platform users pool optimization service
Benefits

Benefits
Benefits

Benefits

‒ Uses the robustness of the Ethereum Blockchain ‒ Smart algorithms and proprietary technology
‒ Smart Contract based multilayer asset wrap and ‒ Digital Asset Security (e.g., cold storage)
user asset entitlement ‒ Privileged access management

Data
The development of a proprietary AI system The value of data is highly dependent on the
combined with state-of-the-art Data Oracles and technology used to contextualize it. Sophisticated AI
Quantitative Analysis stands at the forefront of solutions have a significant edge as they can analyze
innovation. millions of data points.

‒ Developing a state-of-the-art liquidity mining

‒ Able to leverage a variety of data (e.g., Big data,
pool optimization, leveraging the benefits of AI,
Market Data, Machine Data)
Data Oracles, and Multi-Variant Data Analytics
Purpose

Purpose

‒ Creating coherent data clusters to drive value

‒ Use smart algorithms tailored for digital assets
‒ Performing sophisticated data analytics
‒ Improving pool optimization strategies to find
‒ Extracting complex invisible patterns
an edge
‒ Identifying correlations to traditional markets
‒ Assisting in developing staking reward market
and macroeconomic indicators
strategies
Benefits

Benefits

‒ Constant fine-tuning of AI systems ‒ Active quantitative and qualitative data

‒ Risk mitigation by adopting a data-driven management to obtain real-time market
approach based on predictive market data intelligence

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BonFi DAO 06

6.1 Context

Across the finance and blockchain industries, many organizations face challenges concerning effective governance.
Ineffective governance leads to a centralization of power, lack of innovation, or misalignment of stakeholder
interests. Examples of non-effective governance include:

– Finance Industry: Stagnant innovation and old ways of managing wealth. Leadership has limited
accountability and is disconnected from investors.
– Blockchain Industry: Very challenging to implement protocol updates as it is challenging to reach
consensus via the blockchain.

Many public blockchains struggle with power centralization and stakeholder misalignment. These issues prevent
them from achieving organizational effectiveness and community involvement. Instead, we want to build a
blockchain organization where the community leads the future direction of liquidity mining. In such a system,
BonFi platform participants, developers, and token holders become an inseparable part of this organization.
The solution lies with transitioning to a Decentralized Autonomous Organization (DAO) that moves from off-chain
to on-chain decision making. This management structure allows organizations to advance dynamically and drive
the adoption of decentralized governance models forward. Simultaneously, it opens new channels of governance
and streamlining innovation to be considered by the entire organization democratically. Given the benefits of
transitioning to a DAO governance model, BonFi, at its inception, will function as a centralized entity but will
slowly convert into a DAO with the release of BonFi 2.0. Placing on-chain governance in the hands of token holders
will strengthen the core BonFi offering and ecosystem.

6.2 The BonFi Org.

At its inception, The BonFi Org. consists of the Organizational Management Team (OM) and its ecosystem partner
BonVest and its Leadership Team (BVL). Both operate independently under separate legal entities and provide
different services that strengthen and contribute to the BonFi ecosystem.
OM key responsibilities:
– Manage operations and marketing.
– Build BonFi ecosystem (e.g. BonFi App, partnerships).
– Grow BonFi community and attract users.

BVL key responsibilities:

– Launch proprietary AI-powered liquidity pooling optimization service offering.
– Manage BonVest operations.
– Ensure regulatory compliance.

Note: The BonFi Whitepaper describes only the BonFi Platform and its ecosystem concept

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6.3 The BonFi DAO

The transition to BonFi DAO is going to take place concurrently with the release of BonFi 2.0. The BonFi DAO
places governance, voting rights, and the organization's election into the community's hands. The governance
structure will provide organizational control to a democratically chosen supervisory council and the community,
who will have greater control of the future direction of the BonFi ecosystem. Users will be able to directly
influence vital organizational decisions, such as the launch of new yield farming products, proposed protocol
changes, and more.
Ultimately, this model allows the community to continue to seize the opportunities created by AI and DeFi, while
making governance more democratic. We intend to stay true to blockchain technology's vision while providing the
benefits of AI-powered liquidity mining services in the crypto space. BonFi aims to offer an AI-powered liquidity
pooling service to every single participant in a user-friendly package.

6.4 BonFi DAO Council

The BonFi DAO Council will be composed, at minimum, of five council members. The council members'
responsibilities are to take a leading role in guiding the execution of BonFi DAO.
After the go-live of the BonFi DAO, an election will be held to assign Council members. Electoral requirements will
include: 1) a vested interest in the platform through staking of BNF token and 2) community voting. 1 BNF Token is
equal to 1 Vote.
The Council will always maintain an off number of councilors, with a maximum of 9 and a minimum of 5 Council
members. The elected Council members will guide the proposal process, voting, and evaluation within the
governance model. Council members will have the right to veto any decision that they deem harmful to the DAO's
integrity and stability. All decisions require a Council majority vote to pass. Furthermore, within the governance
model, it is possible to create sub-councils that specifically focus on relevant topics, such as marketing or
community initiatives. The Council and sub-councils are independent of the BVL Team and provide checks and
balances between community governance and oversight.

Organizational Structure:
Platform

Governance Ecosystem

DAO

Council Community
Members Members Management
Team

Sub Council
Members Development
Team

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6.5 BonFi 2.0 DAO Governance Model

The BonFi 2.0 DAO governance model of community oversight, is an executive body that governs the BonFi
Platform. The BonVest is a permanent ecosystem partner and takes part in the interests of the DAO governance
body (community/token holders).
BonFi Community DAO will have the scope to drive key organizational decisions, including but not limited to, the
following:

Token Governance Ecosystem Governance DAO Governance

BonFi token Inflation structure Community proposal management BNF Token Expenditures

BonFi token reward structure Voting within the BonFi ecosystem Upgrades to the BonFi protocol

BonFi token utility Ecosystem grants Full ownership of BNF token

6.6 BonFi 2.0 DAO Launch Process

The BonFi 2.0 DAO Launch will be completed in 5 steps:

1. DAO
Build the underlying infrastructure for successful and
Foundation
effective deployment of BonFi DAO organizational
procedures.

Token Holders will be reminded of the transition to a

2. Token Holder decentralized autonomous organization. Furthermore, they will
Education be educated about the BonFi DAO’s vision and the new role each
token holder can play in managing the platform.

During the initial deployment, the DAO will officially go-live

3. Initial
Deployment with all governance features disabled. It will allow the token
holders to get familiar with the new DAO operational model.

Shortly after the initial deployment, the DAO will enable the
4. DAO proposal governance feature with voting rights temporarily
Proposals disabled. It allows the community to submit suggestions that can
be voted on after the full implementation go-live.

Marking the full implementation go-live, the Governance

5. Governance Phase will continue to run indefinitely and enable all
phase stakeholders to utilize all DAO governance features.

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Tokenomics 07

7.1 BonFi token

The BonFi governance token (BNF) functions as an entry piece for the community to become members of the
BonFi ecosystem. It offers exclusive access and unlocks the benefits with the BonVest, a state of the art AI-
powered cryptocurrency liquidity pool optimization solution. Also, it functions as a gateway to directly influence
the future direction of the organization. Members can influence BonFi’s future governance, the launch of new
products, and protocol upgrades. As the number of participants grows, the more decentralized and autonomous
BonFi becomes (See section 6.3, BonFi DAO).
In summary, the BonFi tokenomics provide a balance between the role, purpose, and function of BNF, while
ensuring the positive growth of BNF token’s adoption and utility. Moreover, BNF tokenomics is strengthened by
adopting an inclusive governance structure embodied in the BonFi DAO. The community can co-govern and
expand the token economy of the BNF Token.

7.2 BonToken

Upon the go-live of the BonFi Platform, when a crypto

ETH
asset is deposited into the BonFi platform, the
bonToken(s) separates the utility of the BNF token from
the value of the underlying asset. The deposited asset's
value (e.g., BTC, ETH, USDT, BNF, etc.) is reflected as an
ERC-20 token balance bonToken. This BonToken entitles
the owner to the underlying asset on 1:1 ratio (e.g., 1
bonBTC: 1 BTC)

bonETH
7.3 Token Generation Event

The BonFi token has been launched as an ERC-20 token with the ticker BNF. The BonFi Org. manages BNF with the
objective of promoting the BonFi ecosystem as a global standard for autonomous, decentralized liquidity mining
service offerings.
All contributions to BNF's Token generation are re-allocated, where ever possible within the platform to enhance
our AI technology and foster a healthy ecosystem of open finance products. Our goal is to work with other
innovative organizations to advance decentralized liquidity pool services further. For this purpose, projects that
choose to integrate BNF into their ecosystem may be eligible for support.

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7.4 Token Supply & Distribution

Token Supply
The total supply of BonFi (BNF) tokens at launch is 1.000.000.000 Tokens. The token supply is fixed for the first
two years and will not be changed. After that, the BonFi DAO will reconsider the supply with a maximum inflation
cap of 6%.

Token Distribution

40% 15% 15%

Team & Ecosystem

Advisors Expansion

15% 10%
Early Member
Token Sale
Staking Member
Rewards Token Sale 5% Referrals

BonFi Ecosystem Expansion

We intend to increase our ecosystem’s value through updates to the proprietary AI technology, sophisticated data,
and by establishing strong industry partnerships. Besides marketing the BonFi platform, we will also have a grant
available to support innovative and strategic projects that augment the ecosystem. Eligible projects include those
that increase BNF token’s adoption and utility. Grants are provided to teams that are self-operating and have a
proven ability to execute upon a clear strategy and roadmap. Accordingly, the BonFi Governance team will extend
grants on a milestones basis with individuals fulfilling pre-determined KPIs.
Raised funds will be used to continuously increase the awareness and understanding of BonFi networks around
the globe. These efforts will ensure a strong community around the BonFi ecosystem. At the same time, it
accelerates the development of decentralized AI-driven DeFi solutions.

Team Token Lock-Up Period

The BonFi team and advisors’ BNF tokens will be gradually unlocked over a 24-month (2-year) timeline, with each
release scheduled every three months. The quarterly dispersion of team and advisor tokens amounts to ~12.5% of
team allocation or 1.875% of the total supply (18.75m BNF).
Early Member Token Sale Lock-Up Period
Early community members who joined during the Member Token Sale round will receive 100% of their tokens
following the completion of the early member and member token sale (19. October 2020).

Member Token Sale Lock-Up Period

Community members who joined during the Member Token Sale round will receive 100% of their tokens following
the completion of the early member and member token sale (19. October 2020).
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7.5 Use of Proceeds

The proceeds from the early member token sale and member token sale will be allocated as follows:

Operations & Legal 10%

Misc. Expenses 5%
Technology
Development

Marketing & 35%

Business Development

30%

Financial Asset
Allocation
20%

Marketing & Business Development

The success of BonFi is contingent on its effectiveness to gain user adoption. We have observed many companies
that built exceptional technologies but were unable to successfully bring them to the market. We aim to avoid this
culprit by ensuring the appropriate resources are allocated for marketing and business development.
With respect to marketing, funds will be used for corporate branding, launching marketing & PR campaigns,
hosting business & community events, social media campaigns, product localization, DeFi education campaigns,
and more.
For business development, great emphasis is put on establishing strategic partnerships that will advance BonFi’s
value proposition. Our goal is to collaborate with partners that help us scale our service offerings. Through
partnership expansion, BonFi will bring the world one step closer to the mainstream adoption of DeFi products.

Technology Development
A total of 35% of the funding will be allocated to developing the BonFi Network and surrounding AI technologies.
Development efforts include:
– Continuously upgrading machine learning algorithms;
– Implementing smart contracts into current and future blockchains;
– Developing user-friendly applications for the accessibility of DeFi products to end users;
– User-friendly multi-currency wallets;
– Token creation and governance.

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7.5 Use of Proceeds cont.

Financial Asset Allocation

20% of initial funds will be allocated to the ecosystem, specifically BonVest, building the foundation of initial
assets to be staked on the platform for the liquidity pool. These assets will accrue into staking rewards, of which:
– 50% is used to repurchase BonFi tokens for future staking & referral rewards.
– 35% is re-staked to grow the BonVest’s assets under management (AUM) on behalf of its
beneficiaries, the BonFi token holders.
– 15% is used to optimize the AI technology for the benefit of our community.

Exchange Listings
We will seek to list the token on global and regional exchanges to increase token liquidity, adoption, and user-
friendliness.
Operations & Legal
Operations & Legal funds cover the day-to-day operational costs and guarantee legal compliance, thereby
ensuring long-term development and continued regulatory compliance.

Miscellaneous Expenses
A small portion of funds is allocated towards miscellaneous expenses, covering any potentially required budgeting
differences and unforeseen expenses.

7.6 Token Utility

The success of BonFi is contingent on the utility that it provides to its users. The following overview delineates the
key components that drive the value of the BNF Token:

One-stop platform: Users can store BNF securely, stake and wrap crypto
assets, and access the ecosystem (e.g., BonVest). Additionally, unlock Tiers
APP to receive staking rewards on selected staked digital assets.

Proprietary AI-powered BonVest: Token holders can access

BonVest offering through staking with the BonFi Platform. Also,
it enables users to optimize their liquidity mining strategies.

Utility of the BNF token and

State of the art AI technology: Accessed indirectly through
ecosystem integration interacting with BonFi DeFi product offerings.

Full organizational governance: BNF token holders can vote and influence
proposals brought forward by the community governance council and drive
DAO critical organizational decisions impacting the platform's future
development direction.

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Roadmap 08

– Distribution of BNF Token via

public and private sale
– Global Community Building 2020
– Marketing & PR Campaign Kickoff Q4
– BNF Token Exchange Listing
– Pre-development of Proprietary
Crypto Liquidity Pool Algorithms
– Additional BNF Token Exchange
Listings
– Marketing & PR Campaigns
2021
Q1-Q2 – Strategic Partnership Development
– Completing Regulatory Compliance
– Development of Proprietary Crypto
Liquidity Pool Algorithms
– Development of Staking Platform

– Launch of BNF Staking Platform

2021
– Mobile App Goes Live Q3-Q4
– Launch of BonFi Website 2.0

– Start of BonFi DAO Transition

– Launch of BonFi DeFi Education
2022
Platform
Q1-Q2
– Expansion of BonVest Service
Offerings
– Establish partnerships with
financial institutions

– Complete transition to BonFi DAO 2022

– Enable full community Q3-Q4
governance

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Appendix

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Legal Disclaimers
The BNF Private & Public Token Sale is expected to be completed in 2020 Q4. This whitepaper is for informational
purposes only and does not constitute any legal relations between you and BonFi Org. and its affiliates
(collectively referred to as “BonFi”). This whitepaper is a working document that is subject to review and changes.

No professional advice
This whitepaper does not constitute professional advice to purchase any BNF Tokens nor should it be relied upon
in connection with any other contract or purchasing decision.

Eligible participants
Eligibility for participation in the initiatives described in this whitepaper (if and when completed) is not guaranteed
and is likely to be subject to legal and regulatory restrictions. Per regulatory requirements, citizens or residents of
the following countries are excluded and ineligible to participate in BonFi’s Token Sale:
Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Côte d’Ivoire, Cuba,
Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Mainland
China, Myanmar (Burma), North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka,
Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, United States of America (USA), Venezuela,
Yemen, and Zimbabwe.
Economic Sanctions.
No Borrower shall lend, invest, contribute or otherwise make available the proceeds of any Advance in a manner
that would violate the Economic Sanctions Laws.

Regulatory Compliance
The Company and its affiliates intend to operate in full compliance with applicable laws and regulations and obtain
the necessary licenses and approvals. This means that the development and roll-out of all the initiatives described
in this whitepaper are not guaranteed. Regulatory licenses and/or approvals are likely to be required in a number
of relevant jurisdictions in which relevant activities may take place. It is not possible to guarantee, and no person
makes any assurances, that any such licenses or approvals will be obtained within a particular timeframe or at all.
This means that the initiatives described in this whitepaper may not be available in certain markets, or at all.
Furthermore, the development of any initiatives is intended to be implemented in stages. During certain stages of
development, the project may rely on relationships with certain licensed third party entities. If these entities are
no longer properly licensed in the relevant jurisdiction, this will impact the ability of the organization to rely on the
services of that party.

No Review by any Regulatory Authority

This whitepaper has not been reviewed by any regulatory authority.

DAO Legal Considerations

With the release of BonFi 2.0, the decentralized autonomous organization consisting of community-approved
council members, will be responsible for providing future guidance, roadmap, and development for BonFi. All
decisions, proposals, and new utilities for BonFi must be decided and implemented by the BonFi DAO.

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Legal Disclaimers
No representations
No representations or warranties have been made to the recipient or its advisers as to the accuracy or
completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in
or derived from this whitepaper or any omission from this document or of any other written or oral information or
opinions provided now or in the future to any interested party or their advisers.
No representation or warranty is given as to the achievement or reasonableness of any plans, future projections or
prospects and nothing in this document is or should be relied upon as a promise or representation as to the
future. To the fullest extent possible, all liability for any loss or damage of whatsoever kind (whether foreseeable
or not) which may arise from any person acting on any information and opinions contained in this whitepaper or
any information which is made available in connection with any further enquiries, notwithstanding any negligence,
default or lack of care, is disclaimed.

Graphics
All graphics included in this whitepaper are for illustrative purpose only.

Translations
This whitepaper and related materials are issued in English. Any translation is for reference purposes only and is
not certified by any person. If there is any inconsistency between a translation and the English version of this
whitepaper, the English version prevails.

Third party references

References and data in this whitepaper to facts, use cases, and/or events specific companies, networks are for
illustrative purposes only. The use of any company and/or platform names and trademarks does not imply any
affiliation with, or endorsement by, any of those parties.

Investor Risk
All financial investments involve an element of risk. Therefore, the value of the investment and the income from it
will vary and the initial investment amount cannot be guaranteed.
This material is provided for educational purposes only and is not intended to be relied upon as a forecast,
research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to
adopt any investment strategy. The opinions expressed are subject to change. References to specific securities,
asset classes and financial markets are for illustrative purposes only and are not intended to be and should not be
interpreted as recommendations. Reliance upon information in this material is at the sole risk and discretion of
the reader. The material was prepared without regard to specific objectives, financial situation or needs of any
investor.
The investments and strategies discussed in this document may not be suitable for all investors and are not
obligations of BonFi or its affiliates or guaranteed by BonFi or its affiliates. BonFi makes no representations that
the contents are appropriate for use in all locations, or that the transactions, securities, products, instruments, or
services discussed on this site are available or appropriate for sale or use in all jurisdictions or countries, or by all
investors or counterparties. By making available information on the Website, BonFi does not represent that any
investment vehicle is available or suitable for any particular user. All persons and entities accessing the Website do
so on their own initiative and are responsible for compliance with applicable local laws and regulations.
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Legal Disclaimers
Forward-Looking Statements Uncertainty
This whitepaper contains statements that are forward-looking. These are by their nature, subject to significant
risks and uncertainties. Our forward looking statements are based on information currently available to us about
the business that we operate.
Forward-looking statements may involve approximations and assumptions. These are by their nature, subject to
risks, uncertainties and other factors beyond our control and prediction. Accordingly, these factors could cause
actual results or outcomes that differ materially from those expressed in the forward looking statements.
Any forward-looking statement speaks only as of the date at which such statement is made. We bear no obligation
to update any forward-looking statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events.

Additional Risk Statements

Cryptographic tokens may be subject to expropriation and/or theft; hackers or other malicious groups or
organizations may attempt to interfere with our system/network in various ways, including malware attacks, denial
of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing which may result in the loss of
your cryptographic tokens, the loss of your ability to access or control your cryptographic tokens. In such an event,
there may be no remedy, and holders of cryptographic tokens are not guaranteed any remedy, refund, or
compensation.
The regulatory status of cryptographic tokens and digital assets is currently unsettled, varies among jurisdictions
and subject to significant uncertainty. It is possible that in the future, certain laws, regulations, policies or rules
relating to cryptographic tokens, digital assets, blockchain technology, or blockchain applications may be
implemented which directly or indirectly affect or restrict cryptographic token holders’ right to acquire, own, hold,
sell, convert, trade, or use cryptographic tokens.
The uncertainty in tax legislation relating to cryptographic tokens and digital assets may expose cryptographic
token holders to tax consequences associated with the use or trading of cryptographic tokens. Digital assets and
financial products and services carry significant risks. Potential purchasers should assess the nature of, and their
own appetite for, relevant risks independently and consult their advisers before making any decisions.

BonFi Management View

The views and opinions expressed in this whitepaper are those of BonFi and do not reflect the official policy or
stance of any government, authority or public body (including but not limited to any regulatory body) in any
jurisdiction. This whitepaper has not been reviewed by any regulatory authority.

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