Bond Film Platform ​WHITEPAPER ©BFP ​2017-2018 

BOND
Bond​ is a decentralized video streaming service and
crowdinvesting platform for the Film and Video Industry, based on
the transparent cryptocurrency economy.

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TABLE OF CONTENTS

Legal Notice

Disclaimer

Why we believe the Bond Platform is long overdue

The Problem
The “BOND” solution
Why existing solutions don’t work

Market

Who are we?

So how does BOND work, exactly?

Author
User-Subscriber
User-Investor / Crowdinvestor
Diagram
Token Economy

ICO

BFP Token

Content Ownership

Monthly Subscription Payment

Authors

Financial Goal of Content Proposal

Crowdinvesting
Who can create Content Proposals and initiate Crowdfunding campaigns ?
How Are Campaigns Organized?

BFP and other currencies

Subscription Revenue Distribution

Disclaimer
General Explanation
The Formula
Formula Constants

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Legal Notice
The purpose of this Document is to provide an information about BOND project to potential holders of BFP
Tokens. The information given herein is not exhaustive and it does not imply any contractual obligations and may
be considered only as the marketing information about project. This Document is intended to provide basic data
on the project to potential token holders based on which it will be possible to decide upon purchasing BFP
Tokens.

Certain statements in this Document and informational documents of the BOND constitute “forward-looking
information” under applicable laws. Except for statements of historical fact, information contained herein may
constitute forward-looking statements. When used in this Document, the words “may,” “will,” “should,” “project,”
“anticipate,” “believe,” “estimate”, “intend,” “expect,” “continue,” and similar expressions or the negatives thereof
are generally intended to identify forward-looking statements. Forward looking statements are not guarantees of
future performance, and undue reliance should not be placed on them. Such forward-looking statements
necessarily involve known and unknown risks and uncertainties, which may cause actual performance on
BOND`s obligations, market projections and financial results in future periods to differ materially from any
projections of future performance or result expressed or implied by such forward looking statements. Although
forward-looking statements contained herein are based upon what management believes may be reasonable
assumptions, forward-looking statements may prove to be inaccurate, as actual results and future events could
differ materially from those anticipated in such statements. BOND expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect
any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which
any such statement is based.

Information contained in this Document provided “as is”. This Document makes no warranties, expressed or
implied, and hereby disclaims and negates all other warranties, including without limitation, implied warranties or
conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other
violation of rights. Further, we do not warrant or make any representations concerning the accuracy, likely results,
or reliability of the use of the information contained in this Document or otherwise relating to such information.
This document does not offer purchasing BFP Tokens to individuals and companies that do not possess
sufficient legal capacity for participating in tokensale.

If you are not sure that you are entitled to participate in tokensale of BFP Tokens, you need to apply to a
professional legal, financial, tax or other consultant.

Participation in tokensale is entirely voluntary. One shall review carefully and accept the terms of agreement on
the BFP tokensale project located at Website of the project located at https://bond.pm/ . If you disagree with the
terms partly or fully, you should not participate in tokensale, and in case of your participation with further
disagreement BOND will have to decline participation in tokensale and in purchasing BFP Tokens.

By participating in tokensale you acknowledge and agree that:

- Cryptocurrencies are not recognised as legal tender and are not regulated by any central institution and may be
subject to extreme price volatility;
- You understand the risks involved with digital currencies;
- You are responsible for protecting your Tokens, wallet, computer, software bank account, address and personal
data against any theft, fraud or illegal activity;
- We do not accept any responsibility for any loss or damage suffered by you or any of your authorized agents or
representatives, in connection with a BFP Tokens, whether directly or indirectly, and including where you provide
us with any false information;

- All concluded Transactions are irreversible

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Disclaimer
We are not responsible for transfers made to any incorrect wallet IDs and you and your
agents agree to release us from all loss or damage suffered in connection with such
transfers whether directly or indirectly;

You have obtained independent legal and financial advice about the risks associated with
buying BFP Tokens, or you knowingly and voluntarily elected not to do so;

BOND FILM PLATFORM has the right to refuse any order for any reason, which is at our
absolute discretion and you hereby agree to release and indemnify us in the exercise of that
discretion.

You further acknowledges that cryptocurrency involves risk, especially through price
fluctuation. As cryptocurrencies are not regulated and backed by any central bank, there is a
chance of total loss.

We cannot be held liable for any consequences of the unforeseen risks.

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Why we believe the Bond Platform is long overdue

The Problem

In the last two decades, the film and video industry has undergone a
revolution. From a strictly centralized system – in which distribution was
limited to cinemas and television, and in which only a handful of creators
had the means to make content – we have moved to a new world.
Anyone can now become a creator, and consumers have hundreds of
ways to discover new content and watch the things they like – from
YouTube to Netflix to creators' personal blogs and websites.

This revolution was powered by the emergence of cheaper production

tools and online streaming opportunities. Those have, in turn, brought
about new consumption models, such as ​binge-watching​ for serialised
content or ​following​ for videoblogs.

What the current ecosystem lacks are fair and decentralized

models for revenue distribution and financing of new content.

Just as decades ago, most of the decisions about what should be

produced are made by executives and are based on their individual,
subjective judgment. Of course, in our modern age this judgment now
takes into account things like Big Data statistics and Smart AI analysis of
it, and Amazon even allows subscribers to vote and choose which pilots
to take to series. But in order to take the project from script to pilot, even
this tech giant relies on old-school, centralized and subjective
decision-making.
Films and video projects are financed by big corporate entities, who
decide ​which content to produce​, ​who pays for it and who then
receives the majority of revenues​.

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The “BOND” solution

We asked ourselves:

What if we take the corporations and executives out of the game and let
the audience invest in projects they believe in?

Instead of letting one or two people in suits guess what the market
wants, we are allowing the market to make a decision itself!

And instead of letting the big players get the streaming revenues,
we split them between Content Creators and Crowdinvestors.

Why existing solutions don’t work

In the last 10 years a few models have emerged that try to close the
content financing gap and address the need for decentralization.

Their sole existence is a proof that the problem we are talking

about exists.

But all those solutions provide only a halfway remedy, without changing
the model as such.

Let’s take a look at some of the existing models, which create content
markets and incentivize the production of new content.

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Crowdfunding Platforms (Kickstarter, Indiegogo, etc.)

They do allow creators to get funds for a film or the series pilot, but the
money comes in form of support from the crowd and​ NOT as a proper
investment​. So while they might help “kickstart” some projects, they do
not work as a long-term business model.

The crowdfunding platforms are also not designed to serve the specific
needs of film and video industry. Creators have to take care of content
distribution and look for ways to get revenues, simply because there is
no single platform which provides solutions for all those processes.

At BOND, ​crowdinvesting is an organic part of the video streaming

service​. Our video streaming platform will allow users who will be
watching original and high quality content to buy ownership stakes from
their favorite authors. Bond will also provide users with a smart
recommendation service, which will feature relevant and promising
authors and their projects.

YouTube and Financing through Ads

This model works well enough for those authors who already have large
volume of content and want to get revenues by publishing it, for those
who can only afford to spend limited amount of time and finances on
content production (e.g. video blogging) and for those who can produce
quality content ​and know how to attract traffic​ for hundreds of thousands
or millions of views.

For some forms of content production, this model has proven to be quite
effective. But for the creator who needs significant time and resources to
produce, for example, a serialized documentary – ​advertisement money
is not yet available​.

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Many authors have to beg their subscribers to support them on third

party platforms like Patreon, which is really embarrassing and clearly
shows the inapplicability of the YouTube economy for premium quality
content.

Also, consumers of premium content prefer to pay fixed monthly fee

rather than be forced to view advertisements.

Just a few decades ago, the ​economy of “pay per view”​ was considered
the de-facto standard for all types of good quality content distribution.
Companies charged users per song, per album, per movie and and per
episode of the TV show. Movies were released step by step to various
markets – and via different media types – to maximize profits for the big
movie distributors.

This ”pay per view” economy was and sometimes still is a very
ineffective way for consumers to access good quality content. This
became even more obvious as alternative entertainment options began
appearing online for free. The cost of participating in the “pay per view”
economy eventually contributed to the rise of online piracy.

At some point, the market realized that fighting torrents would not
address the underlying issue: pricey, piecemeal content. The market
then shifted toward a more reasonable solution: the “fixed monthly fee”
economy.

Today, ad-free, subscription-based streaming has become standard

for premium content consumption.

BOND takes this one step further. It offers a decentralized, ad-free,

subscription-based economy that not only benefits creators directly, but
also provides the means for any viewer to invest and obtain a
revenue-generating stake in video content.

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Here, we have outlined a few key features which make Bond Platform so
unique and revolutionary.

WITH BOND PLATFORM WITHOUT BOND PLATFORM

One platform to raise funds, stream Content Creators have to use different
content, connect with fans and collect platforms for funding, distribution,
revenue
publishing and revenue collection and lose
a lot of fan potential in the process

Direct financial feedback between Content Executives in production houses decide

Creators, Crowdinvestors and Audiences which content gets produced and which -
does not

De-centralized revenue distribution - Centralized revenue distribution -

Content Creators and Crowdinvestors win Corporations win

Transparent and clear business-model for Ambiguous business-models,

online content non-transparent revenue distribution

Truly global Crowdinvesting with Geographical limitations for Creators and

cryptocurrency Investors

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Market

The current video streaming market is estimated to reach 12,5 billion US dollars in
revenue in 2017 (according to ​Statista​) and grow steadily in the next five years,
reaching about 32,8 billion in 2022.

The number of SVOD (Subscription Video On Demand) homes is forecast to reach

428 million across 200 countries by 2021, up from 177 million in 2015 and an
expected 248 million by end-2016 (according to the report by ​Research and Markets​)

By 2021, Netflix is forecasted to account for ​27.5%​ of the global market, with 118
million paying subscribers. The remaining ​72.5 %​ will be split among other large
players, such as Amazon, Hulu, etc.

But since we are talking about emerging ecosystem, a lot of opportunities for smaller
players exist. These opportunities will become stronger as more people abstain from
paying for traditional TV and cable bundles and look for new opportunities to receive
content.

According to BTIG analyst Rich Greenfield​, ​“If you end up not spending $80 on live
TV, it frees up a lot of meaningful wallet share to spend. There are lots of
opportunities for new services to exist.”

We believe that Bond Platform, with it’s unique system of content selection and
user-beneficial economy, will attract authors, viewers and investors via
three instruments:

1. The idea that liberating the market from corporate decision-making will create
buzz among the fans of decentralized models.

2. The process, which gives audience members control of a project’s destiny

through their investments, and ensures the projects with the biggest market
potential will end up being made.

3. The unique opportunity presented to users of the Bond platform, who can not
only support their favorite projects, but can also benefit financially from a
project’s success.

If you want to know more about BOND or take part in our pre-ICO, visit our website
at ​https://bond.pm​ or write us an email at ​[email protected]

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Who are we?

We are a team of IT professionals, movie producers, script writers and

visionaries who strive to change the fundamental flaws which all the
current film and movie economic models have.

We know a lot about movies: how they are made, who makes them, how
to get the authors on board and their great content into our library.

We have over 20 years of experience in building video streaming

platforms. We have a great team of developers, designers, testers and
visionaries with vast experience in development of such platforms. We
know how to make user-convenient UIX on web and mobile and how to
integrate our streaming service with popular media centers (Apple TV,
Roku, Kodi, Plex, etc).

We have fintech developers with proven experience who build most

optimal and bullet-proof smart contracts.

We have worked in the video industry for many years, know the needs of
content producers, and know what to offer to attract them to our
platform. For anyone working in the film and video industry, BOND is a
solution they have been looking for. We will promote our cause on
festivals, in film schools, at professional conferences and launch
campaigns in the relevant media to attract creators and help them get
their projects financed.

Our advisory board includes top names both from the blockchain world
and from the movie industry.

And, of course, our main goal is for all creators and film investors to
make a profit on our platform.

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So how does BOND work, exactly?

Bond is two services in one: a subscription-based video streaming service featuring

content from independent creators; and a crowdinvesting platform, which allows
anyone to invest in and profit from new film and video projects.

The platform provides its users with 3 main types of activities:

Author

Publishes own content on the platform, so users can watch and like it.

When users watch and/or like some content, its Author receives a share of the
revenue gained by the Bond Platform from user subscription fees.

Authors can also publish ​Content Proposals​ to gain funding from the
Crowdinvestors​. The proposals can be devoted to new projects like sci-fi pilots or
some doc series or new episodes of some existing content or any other type and
form of content the authors want to produce. Users who like the proposal and want
to support the Authors in making of the new content can invest any amount into any
project they wish.

Creators may submit a proposal for a script or series pilot, or present an

already-produced pilot in order to seek investment for a full series production.

When Authors produce new content and publish it on the platform, they and those
Crowdinvestors who invested in their Content Proposal will ​receive the
corresponding percentage of the revenues collected from user subscriptions​.

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User-Subscriber

Pays a small monthly subscription fee to get access to all content published on the
platform.

The user’s subscription fee is then distributed among all authors whose
content this user watched and/or liked during the subscription period (one
month).

User-Investor / Crowdinvestor

Any user can become an investor by simply buying the ownership stakes in Author’s
Content Channel​ and thus becoming eligible for percentage of future revenues from
this ​Content Channel​.

Bond Platform provides UIX, own cryptocurrency and Smart Contract mechanism to
ensure that service’s economy works securely, transparently and smoothly for all
types of its users.

Bond also retains a fixed percentage of all subscription payments in order to

maintain our server infrastructure, pay for traffic, develop new features, and increase
platform growth.

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Diagram
The following diagram models those 3 types of activities to represent the economy of
the Bond Platform:

➔ Green lines​ represent the ​money flow

➔ Orange lines​ represent the ​relationships​ between content and users/authors

❏ Green boxes​ represent ​users​ in two roles: user-subscriber and user-investor

❏ Red box​ represents ​author​ in two roles: as producer of its own content and as author of new
Content Proposals and consequently of Crowdinvesting campaigns
❏ Orange boxes​ represent ​content​ (films, shows, clips,etc.), campaigns, marketing, etc

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Token Economy

In order for our Smart Contract to calculate revenue distribution, we need to know
the current ​State of Ownership​ for each ​Content Channel​ in question and ​Content
Rating ​for each video in this channel​,​ which is calculated separately for each user
who watched this video.

State of Ownership​ ​and ​Content Rating

are the cornerstone factors
which form the basis of our Token Economy.

They will be discussed in great detail later in the document.

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ICO

Bond plans to launch an ​ICO​ (Initial Coin Offering) campaign in order to attract
enough supporters, believers and investors to make the development of the new
Film Platform possible.

Bond will release its own crypto token, based on Ethereum and ​ERC 20​ standard.
The token will also be a ​Smart Token​ by conforming to the ​Bprotocol Foundation
protocol​. The name of the token will be

BFP​ (​B​ond ​F​ilm ​P​latform)

The initial price of the token will be ​$0.10​ (10 US cents).

We chose this price in order to have a token that is both attractive to investors, and
inexpensive enough to be used as a currency for micropayments on our platform.

Pre-ICO
Carrying out ICO is not easy and is definitely not cheap. We want our ICO to be
properly organized from all aspects: software, legal arrangements and marketing.

Therefore we plan to launch a Pre-ICO campaign first and build a strong community
of our supporters, investors, advisers, etc.

During the Pre-ICO period we will openly discuss all of the ideas outlined here with
our supporters on our ​Telegram Chat​. We want our future users to study the
proposed ​Token Economy​, ​Platform Features​, ​UIX​, etc., and challenge us with their
questions, alternative solutions and ideas.

We encourage all our supporters to ​join the discussion​ and help

us design the best Film Platform on the Internet !

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BFP Token

BFP ​Token will be used throughout the platform for ​all payment related​ ​tasks​:

1. Monthly subscription payments

2. Crowdinvestments
3. Distribution of the revenue to all stakeholders

Here is an example of the token usage for monthly subscription payment:

At the end of the billing cycle, our algorithm will decide how to distribute each user’s
subscription payment between ​stakeholders​ based on the current ​State of
Ownership​ of the ​Content Channel​ they own the stakes at and also based on this
user’s activity on this channel. ​Detailed description of the formula is at the end of this
document.

The tokens from user subscription payments will be sent to the Smart Contract and
after the calculations are completed, the Smart Contract will distribute the collected
funds to the wallets of all the relevant stakeholders - Authors and Crowdinvestors.

It is important to note that there is no mechanism today in crypto world for charging
users with monthly payments. The only widely acceptable, simple and working
solutions for recurring payments are Credit/Debit cards and PayPal.
Also, most Authors produce content, hire equipment, personnel, pay salaries, etc
only with the fiat currency.

We will show how we address both issues, while keeping our economy completely
decentralized and by operating it only with our BFP token.

Bond Platform will also use one of the fiat currencies (by user choice) to represent
some fiscal amounts on the platform, e.g. monthly subscription cost, financial goal of
content proposal, etc.
Nevertheless,

ALL revenue sharing and content funding will be done

STRICTLY IN CRYPTOCURRENCY.

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Content Ownership

One of the most important tasks in the world of content is to establish, declare and
protect the ownership of each piece of produced material.

This is usually done in form of a legal agreement, which is negotiated and signed
behind closed doors by producers, huge hollywood studios and sometimes private
investors. This scheme lacks transparency, fairness and leads to unbalanced
revenue distribution where few decision making parties receive most of the income
and the rest of the team – movie directors, actors, script writers, etc, those, who
actually made the movie – are left with the lesser piece of the pie.

In huge movie and TV show productions, this is not a serious problem. The pie is so
big that even the actual film and show makers receive enough financial benefits for
the whole thing to continue operating.

But in medium and small-size productions, the problems of content ownership and
revenue distribution are both visible and obvious. The current “commonly accepted
way” does not give small players a lot of chances to succeed.

Bond Platform offers the following solution:

Any Author can create a ​Content Channel​ (very much like a YouTube channel) and
by doing so he or she will receive 100% of ​Content Ownership​ for this channel. The
Author will also be able to give or sell any amount of this ownership to any other
author or user on the Bond Platform.

The ownership structure of the channel is represented by the ​State of Ownership:

at the moment of creation, every channel is assigned ​One Hundred Thousand
Stakes​ and this amount never changes during the lifetime of the channel.

As was already mentioned, the creator of the channel - the Author - will receive all
100,000 stakes (100%) when he or she creates the channel.

Any video published on this channel will automatically become owned by whoever
has ownership stakes for this channel.

Any revenue generated by the videos of this channel will be distributed among
all stakeholders of this channel

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So, when the channel is first created, the ​State of Ownership ​looks as follows:

Stakeholder Stakes

Author 100,000

Author may give stakes to any other Author who helps create content for this
channel, e.g. scriptwriter, sound director, actor, producer, etc.

Author may give stakes to any user on Bond Platform for free or in return for channel
promotion, content curation, etc.

Author may also offer some amount of stakes for sale at a specific price. This would
usually mean that Author has a new Content Proposal for the channel subscribers
and needs to raise funds for the production of new content. Any user may decide to
become an investor and purchase any amount of stakes from the offered at the price
specified by the Author.

In general, any stakeholder, be it the original channel owner, another author or user
may offer any amount from the stakes they own for sale at any price they decide is
appropriate. We will call it ​Sale Order​.
At the same time, any user on Bond Platform can make an offer to channel
stakeholders to purchase some amount of stakes from them at a specific price.
We will call it ​Buy Order​.

It is easy to see from the above that as soon as Content Channel is created, Content
Ownership of this channel becomes a tradable asset and the new market is created.
This market discovers the price of each channel’s stake as the intersection between
all Sale Orders and all Buy Orders.

Stakes from different content channels will have different pricing, depending on
popularity and therefore profitability of that channel. And because there is a fixed and
equal amount of stakes for each channel, the stake price of one channel will show its
popularity and profitability in relation to any other channel.

The channel page acts as main project page and as a place for channel authors to
publish their Content Proposals, to interact with their fans, followers, crowdinvestors
and essentially becomes the home for their content.

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After some time, channel’s State of Ownership may look as follows:

Stakeholder Stakes

Author Owner 40,000

Producer 15,000

Investor 1 2300

Investor 2 5200

... ...

Clearly sum of all Stakes will always equal 100 thousand (100 percent).

By recording State of Ownership this way, we solve a few cornerstone problems of

content economy:

1. Ownership information​ is stored in an immutable blockchain, which makes it

both ​publicly recognizable and impossible to forge

2. Ownership becomes a tradable asset​ ​and can be obtained and sold on

the open market

3. Revenue distribution algorithm ALWAYS takes into account

State of Ownership to calculate how to split the user subscription
between stakeholders

In order to store and manage State of Ownership, we need process all Buy and Sale
Orders only through channel’s Smart Contract.

One important and inevitable consequence of the above is the fact that for ​every​ new
Content Channel we must create and initialize a new Smart Contract on the
Ethereum blockchain.

Execution of Smart Contract is not free and costs gas. Therefore every author who
wishes to create new content channel on Bond Platform ​will have to pay ​for
execution of this smart contract in order to establish and record new
State of Ownership in the blockchain.

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We estimate the ​cost of Smart Contract initialization to be around $4-5 USD​, given
the current ETH/USD rate of $500. This is not cheap, and is obviously not a standard
practice on most video streaming platforms, where a cost for content submission
simply does not exist.

This may seem as a huge disadvantage of the Bond Platform economy model, but in
fact it is the ONLY possible way to establish TRUE ownership and create TRUE
revenue stream for any decent quality content.

Since there is no such thing as free views on the Bond Platform, any user who will
watch the content published on this channel will pay for it with some part of his or her
subscription payment.

This means that authors with even minimal number of subscribers will be able
to make profit from their content.

And it also means that spam, bad quality or cheap content will not be present on our
platform, because Bond Platform will be too expensive for spammers to operate on.

Same goes for ​cheat views​ and ​cheat likes​. Even though this “industry” is thriving on
almost all social platforms, it will be virtually impossible to introduce this kind of scam
on our service, because again, there are no such things as a free views or free likes
on Bond Platform.

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The easiest way to show the benefits of our decentralized economy is by example:

Let’s imagine an author who created a channel, paid ​$5​ for it and started publishing
the content.
As was mentioned above — this payment is for Smart Contract execution on Ethereum blockchain to
establish State of Ownership for the channel)​.

Now let’s assume the videos on this channel receive ​10,000 monthly views​ in total
from Bond Platform users. This would not be considered a very popular channel by
the “current world standards” and on any other social platform it would bring its
owners zero revenue.

But imagine for a second how those 10,000 people look like. It is a huge crowd. And
any theatrical performance or conference would be happy to host so many people for
a single event. But in the realm of social networking  it’s, eeeh, ok..
A common everyday thing.

Now let’s do some simple math. At the end of the month, our smart revenue
distribution algorithm will calculate how much each user will pay this for watching
videos on Bond Platform. Our algorithm takes into account length of the video and
how long each user has watched it.

We can safely assume that most users watch ​no more than 50 different channels
per month​. This means that our author’s channel will receive ​at least 10 cents from
each user​. Now let’s do some easy calculations. 10,000 views, 10 cents per view…

Our author will be receiving AT LEAST $1,000 USD per month from his
“unpopular” channel?!

How much will an author with 100,000 monthly views will make?
What about an author with a million views?

What will happen when professional script writers, producers, animators, and
directors start producing high-quality content, attracting millions of views and
followers? How will our films, shows, web series, video blogs, etc, will change? How
will the quality of the content change when authors will know the revenues a good
production can bring them?

We sincerely believe that, in this new type of economy, human creativity will thrive
like never before. We know that it may take a long time to change the common view
on this subject. ​But we also know that THIS IS THE WAY the world should function.

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Monthly Subscription Payment

We plan to set basic monthly user subscription payment at ​$10​.

This amount was chosen to be ​lower​ than the subscription costs of most popular
streaming platforms, yet high enough to generate a reasonable amount of profit for
creators with a moderate amount of fans.

Bond will charge ​30%​ from this subscription, which will allow our platform to
compensate for infrastructure costs, ongoing platform development, marketing,
content and user acquisition and other business-related expenses.

The user will be able to choose preferred fiat currency when subscribing and paying
with Credit or Debit card. The actual subscription payment will be done in ​BFP​ and
the conversion will be made at the current market rate during the payment.

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Authors

In order to become an Author, user needs to go through a ​verification process.

The Author's status is clearly displayed on his Public User Profile page.

To become verified, the author needs to fill the “application form” available in every
user account. Our team will verify all the publicly available works of this author/team,
their achievements, awards, cinematic history, their potential and honesty and will
make a decision.

Our users can be sure that all authors have passed the verification process and can
expect to see high quality content in their video feed.

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Financial Goal of Content Proposal

When authors publish new Content Proposal on their channel page, they must
specify the amount of funds they wish to attract during the campaign in order to start
producing the content and the amount of Stakes they are ready to sell to their
investors in return for those funds.

Bond Platform will provide Authors with the recommended amount/share

proportions, minimum and maximum budgets for different stages of project
development - from writing a script to producing a trailer, a pilot or the whole season
of content, etc.
We will also provide ​recommended budgets for different genres​ - documentary,
video-blogging, animation, drama, comedy, etc.

Again, the author may choose any supported fiat currency to specify their Financial
Goal in. It will be automatically displayed to each user in their prefered fiat currency
(when that user visits the ​Content Proposal​) and will also be displayed in BFP, using
the current market rates.

Investors will be allowed to invest any amount, up to a maximum (financial goal) and
will be presented with UIX to see how many stakes they will receive for the specified
investment amount.

When the campaign is successful, the authors will be able to use the collected funds
as crypto (BFPs); or ask Bond to wire the resulting fiat amount to them. Authors can
choose which disbursement method they prefer.

This process repeats when the first stage of the production is successfully completed
the authors may offer their investors another set of stakes to purchase as investment
in second stage, and so forth until the content is produced and published.

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Crowdinvesting

Bond Platform allows anyone to invest in projects on different stages - from initial
idea developed into a pilot, to a pilot taken to series. The earlier is the stage of the
project, the higher is the risk for the investor. Therefore, authors can offer stakes to
earlier stage investors at a lower price.

Who can create Content Proposals and initiate Crowdfunding

campaigns ?

Any registered user can become an Author on our platform, start publishing content
and creating crowdinvesting campaigns.

Our team will perform the ​KYC​ (​K​now ​Y​our ​C​lient) procedure for each author,
learning about their career, works, portfolio, the content they want to publish on our
platform and which campaigns they plan to run.

Additionally, each ​Content Proposal​ campaign that this author may create will have
to pass through our due diligence process. We check that description and materials
of the campaign are in line with acceptable moral principles, are not considered
antisocial, are not frauds or projects that contain hate speech, that campaign is not
trying to trick the user in any way and that all information is accurate. We also assist
authors in making their campaign more appealing, honest and realistic.

We will prepare detailed guidelines and tutorials for our authors, which will help them
organize and launch their campaign quickly and efficiently.

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How Are Campaigns Organized?

Each campaign will need to present some of the following materials, depending on
the ​genre​ of the project and the ​stage​ for which the funding is sought:

● Introduction video
● Creators’ CV and track record
● Scripts and treatments
● Storyboards, mood boards and other imagery
● Trailer of the project, if available
● Pilot of the project, if the funding is required to take the pilot to the series
● Detailed plan / Roadmap with trackable milestones
● Detailed budget for the planned stage of production
● Information about the team and each team member
● Preferable:​ team’s own channel on our platform with their content
● Preferable:​ other info the team wants to share with their viewers and investors

Interesting, promising and popular campaigns will be showcased on our main page
and in our email newsletter.

Budget Plan and Execution

Each campaign will need to present a ​budget plan​. This will allow investors to have
more control over the production process and split their investments into stages.
Each stage will be funded separately and next stage will be funded only if most of
the investors are happy with the results of the previous stage. Each stage will have a
deadline, at which the authors will need to present the investors with some results
and if investors consider those results satisfactory they may decide to invest in the
next stage of the plan.

An investor who wishes to show their dissatisfaction with the current state of affairs
may offer his or her channel stakes for sale at any desired price. Other stakeholders
may decide to purchase those stakes if they do believe in this channel’s future.

By using the budget plan, authors will attract more investors to the campaign. Budget
plan allows investors to balance their risks and to participate in the production
process. It also requires authors to be more open and honest and to provide their
investors with constant updates on the progress of their project.

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Legal Agreement

Bond Platform will also provide authors and all stakeholders with a service to receive
collected funds and revenues in fiat currency. In order to issue bank wires to the
stakeholders, we will need to have a ​Legal Agreement​ with them. In accordance with
this agreement, all current stakeholders as they are specified in channel’s State of
Ownership will be entitled to ​royalty payments according to the amount of stakes
they own.

In today’s world most authors need fiat currency to produce their films and shows
and Bond Platform will provide them with solution to make the conversion from BFP
into a desired fiat currency and to send a bank wire ​in accordance with the signed
Legal Agreement​.

By using those legal arrangements, we achieve a number of goals:

1. Authors and investors can receive royalties both in Crypto and in Fiat, as they
desire

2. Since Bond Platform is one of the parties of the legal agreement and is
obligated to take care of content distribution and therefore revenue
distribution, all monetization which occurs ​outside​ of the streaming platform
will still be governed by the rules of the same agreement, which means that
authors and investors will get their share of the revenue even from “offline”
sales, if those would occur

3. Users-Subscribers do not need to go through KYC when they pay for their
subscription with a credit or debit card, as ​they are not actually purchasing
any BFP tokens themselves

4. KYC is required for authors in order for them to have legal right to receive the
funds from investors and revenues from subscriptions. KYC will also be
required for those investors who wish to receive their royalties in fiat.

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BFP​ and other currencies

It is important to explain how the Bond Platform handles different currencies and
payment processing on its backend. Most of this handling is done in order to provide
user with more convenience and to increase the security of the transactions. And of
course most of it is not visible to the user.

Let’s take a look at monthly subscription payments.

Users who wish to pay in cryptocurrency will need to top up their account with some
sizable amount of BFP and then choose the number of months they wish to “lock”
their funds for.

For example, the user may top-up her account for an ​equivalent of​ ​$60 in BFP​ and
commit to be a subscriber on Bond Platform for ​6 months​. This will allow our Smart
Contract to lock the whole amount and charge her account an ​equivalent of $10 in
BFP​ every month, taking the funds from the locked sum. If the user decided to
cancel her subscription at some point, the remaining funds will be released to her.

This sounds complicated and indeed it is. And that is why we encourage users to
pay for a monthly subscription using a credit or debit card, as it is the most-used and
most convenient payment method for online purchases.

Since all internal transactions must happen in cryptocurrency and credit card
processing is not possible without doing thorough KYC for each user, we have
decided to take a different approach.

When users pay for their subscription using credit and debit cards ​they DON’T
actually purchase BFP tokens​. What happens is we collect the funds from their cards
and exchange them into a corresponding amount of BFP tokens.

The user never receives BFP tokens, because the ​only reason​ those tokens were
purchased is to distribute them between stakeholders, which is exactly what will be
done by our Smart Contract without adding any cryptocurrency to the user’s wallet.

A different scenario is when user becomes an investor after reading/watching the

Content Proposal.

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Here, if the user decides to invest with BFP tokens, he can perform this investment
in one click by simply sending BFP from his wallet to channel’s Smart Contract. As
soon as transaction completes, the user will receive corresponding amount of
channel Stakes and will have a guaranteed revenue from this channel at the end of
the month. If the user decides to sell his stakes, he may create a Sell Order in the
same Smart Contract and any other user can purchase those stakes for the specified
price.

It must also be noted, that investors who wish to pay with Debit/Credit cards or from
their bank account ​WILL NEED TO GO THROUGH KYC​, since we must record
them in this channel’s State of Ownership and in our Legal Agreement.​ ​This will
make sure that they will receive revenue share from this project in the future.

Bond will also assist both authors and investors in withdrawal of the funds. If they
wish to receive their funds and/or royalties in ​BFP​ and then convert them into ​ETH​,
for example, they will be able to do it right on the platform in a few clicks.

Those authors and investors who will choose to receive funds and/or royalties in ​fiat
currency​, will need to go through additional KYC process, which will allow us to
send them bank wires or card transfers directly in accordance with the legal
agreement that have already discussed.

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Subscription Revenue Distribution

Bond receives ​30%​ from every user subscription. Those funds will help us continue
developing our platform, sustain encoding and storage servers, pay for the streaming
costs, cover administrative expenses, attract more authors, help them launch more
crowdinvesting campaigns, do SEO and marketing campaigns to increase our user
base, etc..

The remaining ​70%​ will be distributed to stakeholders depending on their stakes and
viewer behaviours.

What we are saying here is that in order to distribute the revenue properly

not only we must take into account State of Ownership for each channel,
but we also need to figure out how ​EACH USER​ reacted to ​EACH VIDEO
on the platform

We will name this “reaction” the ​Content Rating​ and ​for each paying subscriber
we will calculate this rating ​for each video they watched​ during the past month
(subscription period).

Then, we will calculate the percentage of the subscription fee that will go to each
stakeholder from this user, taking into account both State of Ownership of the
channel, where this video was published and its Content Rating.

So, for example, if some user paid a subscription fee of ​100 BFP ​one month ago and
only watched the videos from ​3​ channels (​C​1​, C​2​ and ​C​3​) we will need to distribute
those ​100 BFP​ between stakeholders of channels ​C​1​, C​2​ and ​C​3​ according to their
stakes in each channel​. Using our smart revenue distribution algorithm we ​may
come to the following distribution:

● 50 BFP​ will go to author ​A​1​(C​1​) ​and investors ​I​1​(C​1​) ​and ​I​2​(C​1​)

● 35 BFP​ to authors ​A​1​(C​2​), A​2​(C​2​) ​and investors ​I​1​(C​2​) ​and ​I​2​(C​2​)
● 15 BFP​ to author ​A​1​(C​3​)

In the following few paragraphs we will outline the formulas and logic that will be
used to calculate the exact distribution of the subscription revenue.

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Note:

We will use a few constants and some assumptions, which we have selected
elaborately based on our experience, common and math sense.

In the following calculations we determine ​Content Rating​ ​for each video watched by
the user.

Content Rating​ ​is a value from 0 to 1,​ which represents how the user valued the
content and how engaging it was for the user.

Content ratings are obviously subjective by nature and can not be considered
absolutely fair.

If the community can and will offer us suggestions and ideas on how to distribute the
revenues in a way, that would ​seem more fair to the majority of the community​,
we will be glad to adjust our algorithm to incorporate those ideas and suggestions.

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General Explanation

In order to explain how the Content Rating algorithm works, we need to introduce the
parameters which we will use in our calculations:

1. Content Duration​ in minutes

2. Percent of content watched by the user, or ​Watch Depth
3. If the content received a ​LIKE​ from this user
4. A ​Channel Coefficient​ that this user specified each channel

Content Duration

The first parameter is easy to explain. The longer the video, the more it took to
produce it, shoot it, edit it, etc. Usually more people take part in producing longer
videos, so the relationship here is obvious - the longer the video, the higher should
be it’s content rating. At the same time, we decided to put a limit of ​40 minutes​ on
the content duration in our formula, which makes the content rating calculation
algorithm to treat all content longer than 40 minutes as if it was 40 minutes in
duration.

It is very likely that our formula will be optimized in the future

to take into account the difference between full-length films,
medium-length serialized content, short web-series and other types of content.

Watch Depth

Second parameter, the ​Watch Depth​ specifies how long the user watched the
content. If the user stopped watching the video at the beginning and never resumed,
we assume that user didn’t like it enough or really disliked this content. If the user
watched more than half of the video, we assume that this content only partially
appealed to the user. If the user watched over 80% of the video, we consider it to be
a fit content for this user.

Obviously this parameter should correlate with the ​duration​ of the video.
It is much easier to watch half of the one minute video and much harder to sit
through half of a 30 min video, unless it’s interesting and engaging.

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LIKE

Third parameter is very simple. If the user gave this video a ​LIKE​, we consider the
content rating to be ​1​ and no further calculations are done. If the user didn’t bother or
forgot to give it a LIKE, we engage the algorithm, which takes into account the other
3 parameters.

Since Bond Platform doesn’t plan to introduce a ​DISLIKE​ button, the only way for us
to determine if the user liked or disliked the video would be to use the ​Watch Depth​.

Channel Coefficient

Fourth parameter - ​Channel Coefficient​, or ​K​ for short - is a manual setting, which
any user can adjust on their settings page. User will be able to adjust ​K​ for each
channel.

By default every channel has ​K​ equal to ​1​, which makes all channels even. But the
user may decide to increase or decrease this value for each channel to make the
revenue distribution algorithm favor one channel over another.

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The Formula

The following calculations may look and seem complicated to some people, but
we’re providing them here for those members of our community who want to know
the inner workings of the Bond Platform and learn how we implement our ideas on a
software level.

In order to calculate the ​ContentRating​ we need to calculate two important values:

1. DurationWeight​: ​values the content based on its duration in minutes

2. WatchDepthWeight​: ​values the content based on how deep the user

watched it. ​WatchDepthWeight​ also depends on duration of the content. The
longer the duration, the more weight the ​WatchDepthWeight​ will carry.

Both weight values should be in range ​[ 0, 1 ]​ and their sum should also be in the
range ​[ 0, 1 ]​. So, in order to calculate ​ContentRating​, we can use the following
simple formula:

C ontentRating = (DurationW eight + W atchDepthW eight) × K

What we are trying to say here is that by taking into account both the “heaviness” of
the video duration and the engagement of the user who watched that video, we can
calculate the rating of that content “in the eyes” of that user.

As was pointed before, if the user ​LIKEd​ the content, we don’t run any calculations,
but set ​ContentRating​ equal to ​1.

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Formula Constants

In order to calculate the abovementioned weights, we will need to employ a few math
methods and some preselected constants. Those were found using trial and error
and might be changed in the future if a better set of constants OR formula
distribution method will be found.

1. MaxDuration: ​Maximum content duration to take into account. All durations

longer than this value will be considered equal to this value
Constant Value:​ 40 minutes

2. Graph Area:​ [x​start, ​x​end ]​​ and ​[y​start, ​y​end ​]: ​the area of the ​atan()​ graph (below)
which we use to ​distribute the formula results unevenly​. By using the ​atan()
function we force our formula to output higher ​y​ values for medium to high ​x
values and lower ​y​ values for medium to low ​x​ values.
For our purposes, we use the following graph area
[x​start, x​ ​end ]​ = [ 0, 2 ]
[y​start, y​ ​end ]​ = [ 0, 2.42 ]

This is the area of atan() graph as shown on the image below

3. The power of ​x​ in the ​atan()​ function: determines the steepness of the
curvature of the ​atan() ​graph and therefore the speed of the distribution of
values
Constant Value:​ 3

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The general formula that we use for our distribution is:

P π
atan( x − 2 ) +1

Which for ​P = 3​ produces the following graph:

Using the curvature of this graph to distribute the values of our formula and using the
constants, specified above, we can calculate our ​DurationWeight​ as follows:

(atan((RelativeDuration × xend ) P − 2π ) + 1) × Ratio

y end

Where ​Ratio​ is a relationship between our weights (we’ll discuss it later), and
RelativeDuration​ is ​ContentDuration​ limited by ​MaxDuration​:

min(M axDuration, ContentDuration)

M axDuration
Note: ​ContentDuration​ is the actual duration of the content measured in minutes.

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In a similar way we can calculate the ​WatchDepthWeight​ using the following

formula:

(atan((W atchDepth × xend ) P − 2π ) + 1) × RelativeDuration × (1−Ratio)

y end
Where ​WatchDepth​ is the actual percentage of the video the user has watched,
represented as a value in a range ​[ 0, 1 ]

Now, when we have both ​WatchDepthWeight​ and ​DurationWeight​ ​we can easily
calculate the value of ​ContentRating​ by adding those two values and multiplying the
result by ​K​.

One thing that we mentioned in both formulas was the ​Ratio​, which is used to
smartly connect content duration with it’s watch depth.

The idea here is that the ​larger​ is the duration of the content, the ​less​ influence
should it have on its ​ContentRating​ and the ​more​ influence should we give to the
Watch Depth​. And vice versa, the ​shorter​ the content, the more important is its
duration​ and the less important is its ​Watch Depth​.

We want to use another area of ​atan()​ graph here, in order to give more preference
to medium-low and medium–high ​x​ values and less preference to the low ​x​ values.
Therefore we’re taking the ​x​ and ​y​ ranges to be:

[x​start, x
​ ​end ]
​ ​ = ​[ 1.33, 2 ] , [y​start, y
​ ​end ]
​ ​ = ​[ 2, 2.54 ]

We will also use ​P​ = ​5​, to make the graph even steeper.
And then the formula for ​Ratio ​will look as follows:

(atan((RD×(xend −xstart )+xstart ) P − 2π )+1−xend ) × W D×2×BR

y end −y start

Where ​RD​ is ​RelativeDuration​, ​WD​ is ​WatchDepth​ and ​BD​ is ​BaseRatio​ - the

base for the Ratio value, which we increase or decrease based on the duration and
watch depth values. We take ​BaseRatio​ to be ​0.15​, or 15%, which means that in
base scenario the weight of content duration is ​15%​ and therefore weight of it’s
watch depth is ​85%​.

Here one can see some examples​ of how content rating is constructed for different
values using this formula

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Thank you for reading our whitepaper!

Please visit our website ​https://bond.pm​ for latest

and updated information about our project.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dec 4​th​, 2017 
VL 

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