summary: BarnBridge (Founded in January 2019) is a cross-platform fluctuation derivatives protocol. 
content: BarnBridge (Founded in January 2019) is a cross-platform fluctuation derivatives protocol. Days prior to its launch, the liquidity pool garnered the interest of yield farmers, bringing over $200 million to the pool. As of October 28th, 2020 the pool has amassed a Total Value Locked (TVL) of over $450 million. Overview BarnBridge as an idea and whitepaper was originally developed in Q2 2019. !1_dPFoLoTO0MWowFOQWiqFDgpng.pngYield Farming and LP Incentivization Launch Time-Line On September 10, 2020, BarnBridge announced the close of a $1 million seed round led by Fouth Revolution Capital and ParaFi. Other investors include Kain Warwick (Synthetix), Stani Kulechov (Aave), Andrew Keys (DARMA Capital), Centrality, and Dahret Group. BarnBridge aims to tokenize risk with fixed yield and volatility tranche products. This round of funding is meant to cover the development of BarnBridgeDAO and its core products like the Smart Yield Bond. The Smart Yield Bond is a protocol that mitigates interest rate volatility through debt-based derivatives. Pooled collateral is deposited into various protocols and bundles the yield derived from them into different tranches with different levels of risk exposure. For example, you could buy exposure to a tranche with a lower yield, but less risk and vice versa. On September 10, 2020, BarnBridge announced the close of a $1 million seed round led by Fouth Revolution Capital and ParaFi. This round of funding is meant to cover the development of BarnBridgeDAO and its core products like the Smart Yield Bond. On October 18, 2020, the first liquidity mining pool of BarnBridge launched with over $100 million in total value locked. The mining pool that consisted of deposits of USD Coin, DAI, and sUSD began to accumulate millions of dollars before its launch. Under 20 hours after the pool launched, there was $175 million locked in the contract. On October 25, 2020, BarnBridge's liquidity pool officially launched and received over $1 million in liquidity an hour after launch. Much of the growth was due to yield farming. Additionally, according to the firm, yield farmers had already staked over $200 million into the pool prior to the pool's official launch. As of October 26, 2020, the pool's TVL sits at over $300 million. BarnBridge NFT On October 5, 2020, BarnBridge announced the BarnBridge Non-Fungible Token (NFT), also taking the ticker for $BOND. The BarnBridge Non-Fungible Token is a collaborative created by around 20 artists. $BOND is a contract for 200 fully compliant ERC-721 tokens minted by InfiNFT and viewable on OpenSea. Every $BOND NFT is one of a kind. There may be similar ones in the collection but no 2 are exactly the same. Liquidity Mining Program !1_hUzMxy-2KhjOvMweKFXuIgpng.pngSpecs on the Liquidity Pool Incentivization initiative In September 2020, BarnBridge announced a two-phased liquidity mining program. They planned to release two sequential staking contracts with distinct specifications around $BOND token distribution - Yield Farming and Liquidity Pool Incentivization. Yield Farming Yield Farming staking contract will hold 8% of the total supply and will be distributed to community members who stake DAI, USDC, and sUSD. These three stable coins (DAI, USDC, sUSD) were chosen as they will serve as the initial set of yield-producing assets utilized in BarnBridge's first product, the SMART Yield BOND. Participants can harvest their yield at the conclusion of each epoch. Each epoch will last 1 week, and an equal number of $BOND tokens will be distributed during each epoch. The participants’ harvest will be based on the number of stable coins they have staked relative to the total amount staked in the pool. Any participant can add to the pool during the duration of an epoch and receive rewards proportional to the time they are staked, but the funds must stay staked through the end of the epoch to be able to harvest the rewards. Liquidity Pool Incentivization After the first epoch (1 week) of the Yield Farming program, Liquidity Pool Incentivization starts. The concept behind this initiative is to reward long-term liquidity providers. BarnBridge will be using the uniswapv2 BOND/USDC Liquidity Pool token (USDC\_BOND\_UNI\_LP) as a means to reward liquidity pool providers. The Liquidity Pool Incentivization initiative will run for 100 weeks and each epoch will last 1 week. At the end of the epoch, the user can harvest their $BOND. This initiative will be granted 2,000,000 $BOND tokens and each epoch will have 20,000 $BOND tokens to start. BarnBridge DAO The Founders, Seeders, and Advisors employed an Aragon DAO Company Template, which uses transferable tokens to represent ownership stake, starting with Launch DAO. Stake-weighted voting is used to make decisions. The Launch DAO's native token is $BBVOTE. Founders are paid 45 percent, Seeders (45 percent), and Advisors (10 percent). The minimal threshold is set at 62 percent, implying that a plan must receive at least 62 percent approval to pass. BarnBridge DAO The BarnBridge DAO is governed by the $BOND community. The BarnBridge DAO has complete control over the protocol and all of its features. The BarnBridge uses the Diamond Standard (EIP-2535), which allows users to upgrade the protocol without having all the members remove their tokens and switch to version 2 of the protocol that time arises. The BarnBridge DAO becomes the core component of the BarnBridge Platform because it can able to make decisions in a decentralized manner that can enforce the best actions for the wellness of the community. SMART Yield Bonds: The whole DAO setup is done to solidify the path towards SMART Yield Bonds. This is the first DeFi product of the BarnBridge Platform. The Voting DAO can be able to deploy pools that anyone to join if they want to take advantage of this core mechanic. SMART Alpha Bonds: Following the model of the SMART Yield Bonds, the DAO controls the setup and the parameters for SMART Alpha Bonds. Token - $BOND BOND is an ERC20 token. It is 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. Fair Vesting The vesting schedule is set up in such a way that there isn't a huge cliff looming over users' heads at any moment. The tokens distributed to the Founders, Seed Investors, and Advisors are locked in a smart contract that releases them weekly over the course of two years. The vesting time begins when the Yield Farming method is activated. This breaks down as such Total amount of $BOND tokens: 10,000,000 Percent of $BOND tokens allocated to Founders, Seed Investors, & Advisors: 22% Total amount of $BOND tokens vested: 2,200,000 Length of vesting: 100 weeks Release schedule: 1 week Amount of $BOND tokens released each week: 22,000 Percent of $BOND tokens released each week: 0.22% BarnBridge Governance BarnBridge DAO lays the foundation for its products. It is governed by BOND ERC-20 tokens. The total supply of BOND tokens is a fixed amount of 10,000,000. There is no mint function in the token smart contract. The BarnBridge staking contract is called Barn, is built on the created by Nick Mudge. The voting on the DAO is performed with the non-tradable vBOND tokens. To get vBOND, users stake or lock their BOND tokens. Users lock BOND for a period of up to 1 year and get bonus vBOND. The bonus is linear - max 1 year, max 2x multiplier. Bonus has a linear decay relative to locking duration. Direct Deposit: DAO Staking Staking tokens in the DAO is the simplest way to get started with the BOND token. While the primary goal of staking is for users to gain voting power, on February 8th, 2021, a rewards pool was introduced. It was created as a bonus for DAO participants who signed up early. Users can propose and partake in votes on how to use community resources with voting power. 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. Providing Liquidity When it comes to supplying liquidity, BOND offers a plethora of options. A USDC/BOND Uniswap v2 pool is the most liquid and well-incentivized. It went live on October 26th, 2020. The idea of the effort is to reward long-term USDC/BOND pool liquidity providers with more control over the protocol as they continue to put their money into the BarnBridge vision. To start getting BOND rewards, users need to provide liquidity to the and stake USDC\_BOND\_UNI\_LP tokens in the on BarnBridge. How to Stake in the DAO The participant then has the option of leaving their BOND unlocked or locking it for up to a year. One unlocked BOND equals one vBOND voting share, while locking one BOND for a year equals two vBOND voting shares. This bonus decays linearly in relation to the lock's remaining time. If you lock for a year, only 50% of the bonus will remain after 6 months, 25% after 9 months, and your BOND staked and vBOND will be similar after a year. BarnBridge governance is structured around the BarnBridge DAO which is controlled by the BOND token holders. It has full control over the protocol and the features that are built into it. The $BOND token serves as the system's governance token, giving $BOND holders the ability to vote on platform improvements. BOND acts as a means of aligning the many players in the system by combining governance systems and incentive holders. $BOND is also used to control security and policies. A DeFi protocol's success depends on decentralize