# Bonds
#### What is a Bond?
A **Bond** is a mechanism that allows users to purchase a token at a **discounted price compared to the market**, in exchange for a **progressive unlock over time**.\
In other words, the user benefits from a discount, but does not receive all of the tokens immediately. Instead, the tokens are released according to a **vesting schedule**, generally ranging from **14 to 60 days**.
#### How does a Bond work on ApeBond?
When a user purchases a Bond, they exchange a given asset — such as a stablecoin, a blue-chip token, or in some cases an LP token — for the right to receive discounted tokens.\
In return, they receive a **vesting NFT** representing their Bond position.
This NFT materializes the right to receive tokens over time. The holder can:
* claim tokens progressively as they vest;
* or wait until the end of the vesting period and redeem the full amount at once.
This structure enables a cleaner, more transparent, and fully traceable management of token distribution through Bonds.
#### Different types of Bonds
ApeBond mainly distinguishes between two categories:
**Reserve Bonds**\
These allow a project to sell its native token at a discount in exchange for a single asset, such as a stablecoin or a major crypto asset.\
The objective is to **diversify the treasury** and raise funds without selling directly into the market.
**Liquidity Bonds**\
These allow users to provide liquidity tokens (LP tokens) in exchange for project tokens, also subject to vesting.\
This mechanism helps build **long-term protocol-owned liquidity**.
#### Why this model is relevant for BIM Protocol
The integration of Bonds through ApeBond gives **BIM Protocol** access to a structured mechanism designed to:
* support ecosystem growth;
* strengthen liquidity depth and stability;
* improve long-term treasury management;
* offer users a more strategic way to access BIM tokens than through a standard market purchase.
This model fits into a vision of **sustainable decentralized finance**, where protocol growth is not based solely on short-term speculation, but on mechanisms designed to promote long-term stability and alignment of interests.
### Integration on BIM Exchange
The ApeBond-powered Bond feature is integrated directly into **BIM Exchange**, through the interface available at:
[**exchange.bim.finance/bonds**](https://exchange.bim.finance/bonds)
This integration allows users to access the Bond experience directly within the BIM ecosystem, without leaving the Beam Exchange environment.
#### Revenue distribution
As part of this partnership, **BIM Exchange receives 30% of the fees generated by volumes executed through the Bond interface available on exchange.bim.finance**.
These revenues are not captured by any private entity:\
**100% of the revenue received by Beam Exchange through this arrangement is allocated to the BIM DAO**.
In other words:
* Bonds executed through the BIM interface generate fees;
* BIM Exchange receives **30%** of those fees under the partnership terms;
* the entirety of that share is then transferred to the **BIM DAO**.
This model turns Bond activity through the BIM interface into a **revenue source for BIM’s decentralized governance**, strengthening the long-term economic sustainability of the ecosystem.
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