> For the complete documentation index, see [llms.txt](https://docs.arbor.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.arbor.finance/protocol/bonds.md).

# Bonds

Borrowing on Arbor starts with bond issuance. At launch, Arbor will offer two types of bonds: [Simple bonds](/protocol/bonds/simple.md) and [Convertible bonds](/protocol/bonds/convert.md).