BarnBridge is the first risk tokenizing protocol. It allows hedging yield sensitivity and price volatility. BarnBridge does this by accessing debt pools on other DeFi protocols, and transforming single pools into multiple assets with varying risk/return characteristics.
If you want to learn more about the project you should start by reading our Introducing BarnBridge article on our blog. For a better understanding of the idea behind Barnbridge take a look at our Whitepaper. In addition, you can view all our contributors on the team page.
BarnBridge is the first risk tokenizing protocol. Its purpose is to integrate with other protocols letting hedging the yield risks on those lending and other platforms.
The vesting schedule is designed so that there is not a giant cliff waiting over users heads at a specific point. The tokens allocated to the Founders, Seed Investors, and Advisors are locked in a smart contract that releases the tokens on a weekly basis over a two year period. The vesting period started with the launch of the Yield Farming mechanism. Learn More.
We do have a Telegram group but we’re currently building community on Discord.
$BOND token is a pure governance token that powers the BarnBridge DAO protocol.
$BOND is an ERC-20 token. It will be used to stake in the system, and as a governance token when the governance module is launched. As it conforms to the ERC-20 standard, the $BOND token is tradeable on any exchange and storable on any wallet - allowing anyone in the world to access it.
The total amount of $BOND tokens is and will be 10,000,000. No minting allowed.
The distribution breakdown is designed to facilitate the most decentralized protocol and make sure power doesn’t reside in the hands of a few.
Week 1: - Farming: 32,000 $BOND - Team: 22,000 $BOND - Total: 54,000 $BOND
Week 2-4: - Farming: 32,000 $BOND - LP: 20,000 $BOND - Team: 22,000 $BOND - Total: 74,000 $BOND Week 5+: - Farming: 32,000 $BOND - LP: 20,000 $BOND - BOND Pool: 5,000 $BOND - Team: 22,000 $BOND - Total: 79,000 $BOND
The Founders, Seeders, and Advisors are using an Aragon DAO Company Template which uses transferable tokens to represent ownership stake. Decisions are made based on stake-weighted voting with the $BBVOTE token. The Founders received 45%, Seeders received 45%, and Advisors got 10%. The minimum voting support is set to 62%, meaning for a proposal to be passed it must be approved by at least 62% The funds from the seeders and the initial supply of the $BOND token will be kept in the Launch DAO treasury. You can find the LaunchDAO here.
BarnBridgeDAO will be the DAO that is controlled by the $BOND community. The BarnBridgeDAO will have full control over the protocol and the features that are built into it. BarnbridgeDAO will be the final protocol DAO.
LaunchDAO is a temporary DAO consisting of the project founders, seeders and advisors for building the initial version of the protocol. LaunchDAO uses $BBVOTE token.
BarnBridgeDAO is going to be the final DAO where the community can vote with their $BOND tokens. The BarnBridge DAO will become the core component of the BarnBridge platform as it enables decentralized decision making to enforce actions in the interest of the community.
BarnBridge Non-Fungible Tokens, also taking the ticker for $BOND, may be and will likely be completely pointless outside of being cool and fun. Every $BOND NFT is one of a kind. There may be similar ones in the collection but no 2 are exactly the same. Downstream, we’ve seen DeFi projects propose using NFTs as proof of liquidity in income streams & wrapped NFTs as loan representations. With almost every high profile DeFi project experimenting in one way or another, the point is clear: DeFi is looking into NFTs. While we’ve been looking at what NFTs mean for DeFi, at the moment, we’re just paying attention. Learn more in our Medium article.
$BOND is a contract for 200 (two hundred) fully compliant ERC-721 tokens minted by InfiNFT and viewable on OpenSea here: https://opensea.io/storefront/barnbridge-non-fungible-token
The Yield Farming staking contract is the first mechanism delivering initial $BOND token distribution to the community. This contract holds 8% of the total supply and will be distributed to community members who stake DAI, USDC, & sUSD. Tokens to be distributed: 800,000 $BOND. Program duration: 25 weeks. Start date: Oct 19th, 2020.
Yield Farming staking contract holds 8% (800,000 $BOND tokens) of the total supply and is distributed to community members who stake DAI, USDC, and sUSD.
Stablecoins - specifically DAI, USDC, and sUSD.
No, they are all equally rewarded. 1 USDC = 1 DAI = 1 sUSD.
You can check the APY for both Pool 1 (Yield Farming) and Pool 2 (LP Incentivization) on CoinGecko.
The concept behind the Liquidity Pool Incentivization initiative is to reward long-term liquidity providers with progressively more power over the protocol as they continue to signal their belief in the BarnBridge vision. Participants who believe in the vision represent the community, we hope, will gain significant control over the protocol’s long-term evolution, and are therefore the users who should be rewarded with the most plentiful harvest. Tokens to be distributed: 2,000,000 $BOND. Program duration: 100 weeks. Start date: Oct 26th, 2020.
This initiative is granted with 20% (2,000,000 $BOND tokens) and each epoch will have 20,000 $BOND tokens to start. The Liquidity Pool Incentivization will run for 100 weeks and each epoch will last 1 week. At the end of the epoch the users can claim their $BOND.
The deposit works like this: for the current epoch, the amount that is taken into consideration when the reward is calculated is relative to the time when you deposited.
If you enter when there’s only 20% time left, your effective balance will be equal to actual balance * 20% where the multiplier is exactly that 20%. For the next epoch (and any subsequent epoch), the multiplier is set back to 100%.
If you deposit some more, the multiplier will be less, but the effective balance will always be greater than the previous. For example: you start the epoch with 100 DAI, then deposit 100 DAI at exactly 50% of the epoch => your effective balance for this epoch is 150 DAI = 100 + 50% * 100 or 200*75% - 75% being the new weighted-average multiplier.
If you withdraw before the epoch ends, there are 2 possibilities:
You withdraw the full amount => in which case your effective balance goes to 0 because your actual balance, which is now 0, multiplied by any kind of multiplier is still 0.
You withdraw only a part of it => the multiplier is recalculated as the weighted average of the deposits (let’s say you deposit 100 DAI then after half of the time you withdraw 50 DAI => you’ll end up just like you initially deposited 50 DAI).
Any withdrawal causes the reward for the amount of money withdrawn to be lost.
You have to stake the uniswapv2 LP tokens (USDC_BOND_UNI_LP). You’ll get them for providing liquidity to the BOND/USDC pool on Uniswap.
BarnBridge Uniswap fees are not automatically distributed. They are added to the pool, so when you burn your LP tokens and withdraw your liquidity from the pool, you’ll also get the fees. The staking contract does not collect any fees and neither is BarnBridge. You can read more here https://uniswap.org/docs/v2/advanced-topics/fees/. Check out the first paragraph - “Liquidity provider fees”.
Liquidity mining in the BarnBridge ecosystem is a two-phased liquidity mining program that is releasing staking contracts with distinct specifications around $BOND token distribution. Liquidity Mining consists of Yield Farming and LP Incentivization programs.
Yield Farming is the first mechanism delivering initial $BOND token distribution to the community. This contract holds 8% of the total supply (800,000 $BOND tokens) and is being distributed to community members who stake DAI, USDC, & sUSD during the period of 25 weeks. Phase two is the Liquidity Mining Incentivization Program. This initiative is granted 20% of the total supply (2,000,000 $BOND tokens) and each epoch has 20,000 $BOND tokens. This will last 100 weeks.
No, it will accumulate for however much time you stay staked in the pool.
We designed Pool 1 and Pool 2 to distribute the token to the community. Pool 1 is providing proof of capital to the network at 8% of the supply. It's to ensure decentralized governance from day 1 when the products are live. Pool 2 allows to earn additional token incentives as well as provides liquidity.
Tranches are pieces of a pooled collection of securities, usually debt instruments, that are split up by risk or other characteristics in order to be marketable to different investors. Tranches carry different maturities, yields, and degrees of risk—and privileges in repayment in case of default.
Senior and junior tranches will be available in our main products - SMART Alpha & SMART Bonds. In the meantime we're distributing $BOND tokens to the community running Yield Farming & LP Incentivization programs. You can learn more in our Medium article.
This is the first DeFi product of the BarnBridge platform designed to mitigate interest rate volatility risk using debt-based derivatives. Read more in our Whitepaper.
Market Price Exposure Risk Mitigation using tranched volatility derivatives.
The SMART Alpha bonds will not be structured via traditional yield tranches but instead with various levels of market price exposure, which we will call risk ramps. The idea is that every bucket or tranche of price exposure does not need to be flat across the entire risk curve, meaning the first $100 of price exposure does not need to deserve the same upside and downside volatility. This is similar to having fractional ownership but with different risk/reward for the fractions. Read more in our Whitepaper.