BarnBridgeDAO Launches With Governance and Staking

Key Takeaways

• BarnBridge users can now stake their BOND tokens and earn staking rewards on their investment.
• Users of the platform can additionally vote on governance proposals by locking up or staking their tokens.
• $28 million of tokens have already been staked. The protocol’s total value locked (TVL) stands at $500.73 million.

The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner

Share this article

BarnBridge has launched BarnBridgeDAO, allowing BOND token holders to participate in governance. Those users can also earn rewards by staking their tokens as well.

A DAO-First Approach

BarnBridge is a DeFi service that splits crypto risks into buckets (tranches) so that market participants can invest in assorted assets in a way that is appropriate to their risk profile.

With BarnBridgeDAO, users can now create and vote on proposals related to the platform. To do so, users must have vBOND tokens, which are obtained by locking and staking BOND tokens.

Users can stake their BOND tokens without locking them up, in which case they will get vBOND tokens for voting but no staking rewards. Alternately, users can lock their BOND tokens and earn both vBOND tokens and staking rewards at a maximum of 100% APY. Additionally, users can delegate their vBOND tokens to other users.

Users will need 1% of BarnBridgeDAO’s total staked tokens to create a proposal. Each proposal will need 40% of the total staked tokens to achieve quorum and 60% votes in favor in order to be passed.

Users cannot have more than one active proposal at any given time, but users can vote on several proposals at once.

$500 Million Locked So Far

At present, the BarnBridge protocol itself has a total value locked (TVL) of $500 million. There are 445,441 BOND tokens staked amounting to $27.72 million at press time.

On Jan. 12, Coinbase introduced support for the BOND token on its custodial service, Coinbase Custody.

At the time of writing this author held Ethereum (ETH).

The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner

This news was brought to you by ANKR, our preferred DeFi Partner.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

DeFi Project Spotlight: BarnBridge, an Institutional Bridge to DeFi

The potential impact of crypto on traditional finance (TradFi) and institutions has been discussed for years. People like Blythe Masters, who helped create the infamous credit-default swaps, got interested in…

Looking Back on 2020 and 2021 Predictions

Happy New Year from all of us at Crypto.com Research! 2020 was an unprecedented year for the world and for crypto. Before we fully plunge into 2021 predictions, we will…

Coinbase Custody Lists DeFi Project BarnBridge

Coinbase Custody has enabled deposits and withdrawals for BarnBridge’s BOND token. As of late, Coinbase Custody has been adding DeFi tokens on their platform at a rapid pace. Coinbase Custody…

Coinbase Reviewing Barnbridge, NuCypher for Exchange Listing

Coinbase continues to extend its institutional custody offering with new tokens. This time, there are over 35 candidates to be added. Coinbase to Broaden Token Selection Being a qualified custodian,…