What can I do with BOND?

BOND is BarnBridge's governance token. *All APY quotes and other numbers are from May 24th, 2021.

What is BOND?

BOND is the governance token of the BarnBridge DAO, short for “Decentralized Autonomous Organization.” The BarnBridge DAO coordinates the continued development of our suite of DeFi applications, as well as how fee revenues and treasury resources are allocated. Because BarnBridge has no formally incorporated entity in any jurisdiction, staking the BOND token in the BarnBridge DAO is the only mechanism used to govern the network.

BOND Specification

The BOND token conforms to Ethereum’s ERC-20 standard. Therefore, the token is fungible and can be supported by any wallet that supports ERC-20 tokens. The total number of tokens is set to 10,000,000 (ten million) and cannot be changed because there is no minting function in the contract.

The token parameters are:

  • name - BarnBridge Governance Token

  • symbol - BOND

  • decimals - 18

The token contract doesn’t have an owner because no party should have special permissions over the token. The contract can’t be paused, but users can burn tokens if desired.

Direct Deposit: DAO Staking

The easiest way to get started with the BOND token is to stake tokens in the DAO. While the primary intent of staking is for users to earn voting power, a rewards pool was launched on Feb 8th, 2021. It was designed as an extra incentive for the early DAO participants. With voting power, users are able to propose and engage with votes on how to use community resources. You can read more about the governance process here: Beginner’s Guide to Governance

The DAO pool was preloaded with 610,000 BOND tokens and the duration was set to 50 weeks. The current APR is about 50% but is subject to change. You can check APR using our APR bot in the Discord Community Server.

More details about the DAO staking pool in our Medium post: Pool 3 ends and DAO governance rewards begins.

Also, check out the detailed guide on How to Stake in the DAO?

Providing Liquidity

There are plenty of opportunities with BOND when it comes to liquidity providing. The most liquid and well incentivized pool is a USDC/BOND Uniswap v2 pool. It was launched on Oct 26th, 2020. The concept behind the initiative is to reward long-term liquidity providers of the USDC/BOND pool with progressively more power over the protocol as they continue to risk their capital for the BarnBridge vision.

To start getting BOND rewards, you have to provide liquidity to the USDC/BOND pool and stake USDC_BOND_UNI_LP tokens in the yield farming pool on BarnBridge.

Be aware of the impermanent loss risks associated with the liquidity providing and make sure to check Yield Farming $BOND: The Risks Involved.

Earn Yield

As the BarnBridge project matures, we anticipate new uses for BOND to emerge via engagement with other DeFi projects. Currently, you can use your BOND on the following platforms:

  • C.R.E.A.M. Finance: A pooled lending platform, C.R.E.A.M. Finance allows you to lend out BOND to users who are seeking to borrow the token. We are currently advocating for it to earn a Collateral Factor designation on the platform, meaning that in the future you’ll be able to borrow other assets against your lent BOND.

  • Universe XYZ: Universe XYZ allows creators to build communities around thematic NFT issuance. 7% of its token supply will be distributed via a proof of capital mechanism; BOND is one of the accepted tokens for this program.

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