Bondly Integrates with Phala Networks to Add Privacy to DeFi

October 21th, 2020

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Bondly x Phala Networks

Bondly (Bondly.Finance), a crypto-enabled e-commerce platform that aims to unlock $4 trillion of latent value in the Next Generation Digital Economy, is proud to confirm our partnership today with Phala Networks. Phala Network will be a parachain on Polkadot and serve DeFi and data service companies with next-generation privacy protection technology.

This partnership further accelerates Bondly’s vision for an ambitious new protocol that will provide interoperable DeFi tools for over-the-counter (OTC) exchanges and the digital marketplaces of the future.

Brandon Smith, CEO of Bondly stated: “We look forward to working with Phala to enable smart contracts to create more privacy for buyers, sellers, and OTC traders. This partnership today will vastly enhance Bondly’s vision for a more powerful DeFi experience ”

Phala Network is the first confidential contract network with composability and interoperability, and 80% of the top 10 contracts on Ethereum invoke or interact with these contracts.

Smith further hinted at the capabilities of this partnership: “through confidential smart contracts, we believe that Phala Networks can bring even more exciting, and compelling, use cases for Bondly’s NFT platforms and our growing ecosystem of products.”

Phala Network is based on Substrate. It offers confidential contract capability to other blockchains with Polkadot’s XCMP. Eventually, all the blockchains can share Phala’s infrastructure and reduces computing power costs.

About Bondly

Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling DeFi products are designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Our product BProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.

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About Phala

Phala Network is a Substrate-based interoperable cross-chain confidential smart contract platform, aiming to solve the privacy dilemma on blockchains for all users and companies through a decentralized and incentivized TEE confidential network. Empowered by the computing powers of TEEs, Phala Network will be a parachain on Polkadot and serve DeFi and data service companies with next-generation privacy protection technology.

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