Bitcoin Forum

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With this paraphrased introduction from the Barnbridge Whitepaper (https://github.com/BarnBridge/BarnBridge-Whitepaper), I am glad to have the pleasure to introduce BarnBridge and its team to the Bitcointalk forum. I came across them while exploring the DeFi and Farming business that has taken over much of the Alt-Coin space in the last few months.  I personally believe that at its very foundation, DeFi has been enabled by the performance and security of Bitcoin. DeFi allows holders of cryptocurrencies to lock money (as stable-coins or Custodial wrapped BTC) and earn "Yield". This is a lot like how banks used to provide interests on deposits. The difference is that unlike banks; there is no institution, building, managers, the sexy receptionist and associated expenses/fees. All of that overhead is replaced by a very non-sexy smart-contract. The survival and growth of your deposit depends on the bulletproof-ness of that Smart contract. It has to be kept in mind that several Hundreds of millions have been lost in the last few months through exploits. This is why it is necessary to have a trustworthy, public team committed to their goals who aren't just selling tokens to unsuspecting crypto-newbies.

Till now, the safest method of earning yield is to lock stable-coins and crypto on platforms like Balancer, UniSwap, AAVE, Compound etc. The platform uses those deposits to match lenders and borrowers and earns the difference, while splitting it with the liquidity providers. The risk, relatively speaking, is low and so are the returns. If you want higher returns, there is a whole array of risky speculative projects which will make you lose money.

The team at BarnBridge is attempting to bring a greater variety of financial instruments to DeFi which will allow people to choose from options based on their own risk tolerance.


BarnBridge allows anyone to lock three types of stablecoins, USDC, sUSD and DAI and earn their $BOND token. There is no ICO but there has already been a private seed investor round allotting 7.5% to investors, 2% to advisors and 12.5% to core team. This is what the website looks like:

Apart from locking stablecoins, you can also earn $BOND by following two methods:
1. Providing Liquidity on Uniswap*
2. Staking Bond tokens (Remaining 2 weeks out of 12 weeks)

The reward from above 3 methods are distributed every week. The rewards scale on a pro-rata basis through the week depending on how long you were staked continuously before the finish of epoch (End of Sunday).



In the vein of all DeFi protocols, BOND is the governance token with the following distribution cycle:

Here are the links to discover more:


In the DeFi space, you need to understand and know what project you are going to spend your time and money on. That is the biggest risk of all. This is all a growing space and knowledge is your friend. Head over to discord for meeting the team and a great bunch of people ready to answer all your questions. I have been there for some time trying to get my head around the financial model for the risk tranches. You can find me there as @amish. You can also ask your questions in this thread. I also hope to have someone directly from the team to answer the queries as well as informative posts related to the financial products.

The team does fortnightly project calls where a group video call is broadcast on youtube explaining about the background work. All the previous calls and the notes are also available on Github.


* Providing Uniswap Liquidity has the risk of Impermanent Loss caused due to fluctuations in Token Value.


DISCLAIMER: If you are new to DeFi terms and platforms, you are welcome to ask me via PM. This thread is not financial advice to put your money on the line and there is no "Announcement" for ICO or Bounties. This is not a get rich quick scheme and buying the token on Uniswap gives you no guarantee of returns. As always, Do your own research and never invest more than you can afford to lose.

Reserved for post explaining Risk Tranches.

Those of you who may have checked the website would have noticed that there are 3 pools on the launch platform. The third pool allows you to stake $BOND to earn more of it. This pool will be closed this sunday and the BarnBridge DAO will launch soon thereafter.

The DAO will essentially be a way for the community to engage in decision making through discussions as well as voting with their BOND tokens. This will require you to lock the voting tokens for a certain period. Longer locking periods give you more voting power.

The DAO will also support what is called "The Diamond Standard" for upgrading contracts in a modular way. For the technical details, I encourage any of you to read and discuss downthread.

For more details and features of the BarnBridge DAO, Please check this Medium post. (https://medium.com/barnbridge/barnbridge-dao-built-for-the-future-3735fbd671c5)

Reserved for Russian and German translation.

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What's the base price of bond token? So far I see on CMC bond token in few days, price is betweent $26-$30, but trading volume is unquestionable, as it is listed on many exchanges, so the volume is very good. I even smell something big here.

After giving your thread a read, is it not the official ann of the project, then? Rather, it is a personalized opinion and a form of support toward a project you're believing in, and you're here under the capacity of a crypto enthusiast rather than their community manager or part of the team?

If you will go through there whitepaper, blog and medium posts, you will see that this isn't really about the token but about making a product similar to traditional finance. The price depends on the value that people attach to "governance" of their products when they will be public. The initial product being worked on called as "Smart Alpha Bond" allows anyone to buy crypto investments rated according to their associated risk. Thanks for going through and your opinion. Do join discord and take part in the discussions. Do take a look at some of the initial Project calls where Tyler discusses about his vision for the project.

I found the project on my own just going through the jungle that is DeFi. I have been staking a little amount on their website and have been in their discord since November'20. The BarnBridge team wanted a post on the BitcoinTalk forum. They had an incentive for it in the form of added recognition in discord and an NFT. I am quite interested in what they are doing and wanted to be more involved with the project. I offered to do it to and let people on forum know about BarnBridge.

Now that you ask, I'll confirm from the team if they want this to be an official ANN and whether I should call myself a community manager? Additionally, If being the "Official" ANN means that the real team is in touch and they will be available on the thread at some point then yes, this is an official ANN. To be frank though, I only really consider devs and the brains to be part of "teams" in crypto. There isn't much community management to be done here as there is no bounty thread etc. The idea is for the community to self manage. The thread will in no way encourage you to buy the token based on speculation. If you think that risk-based derivatives can be a thing in crypto and that their "governance" would have some value, then you can choose to buy. One thing I would say is that its a lot of work understanding this product if you are from a non-financial background like me.

I think it will quite agreeable that the definition of "official" ann would be that the answers given for questions asked here were originated from dev team and that it can be accountable for future reference of whatever the project have or will face. If you can help asking the team to officiate this thread, it'll be very nice, as it'll certainly increases their visibility and people can access them easier.

For the matter of CM, I am somewhat less agree with you. A community manager (by a broad definition of mine) is the one who responsible to manage queries, announcement, and other publication made by the team. In a word, we can perhaps say they were the PR of the project, and (this is where I am less agree on your opinion) projects need a CM, because they'll be the one passing official answers and announcement. Without the role, if a project took a self-managed system where anyone can share info or development progress, there will be a risk where the shared information got jumbled and tangled with other self-originated information (read: FUD or FOMO), that it'll raise confusion within the community of whose words is credible and whose words isn't. This is where a CM comes in.

The announcement looks good and from what I read, this might have a chance to bloom. Others are right that you must tell the dev to make this as an official and you can moderate as well.

Continuing their commitment towards contributing to the DeFi space, the BarnBridge team has come up with the "BarnBridge Standards and Disclosures" (https://medium.com/barnbridge/barnbridge-standards-and-disclosures-c218bb29c0f6). The purpose is to form a standard for defining the risks associated with smart-contract based products like $BOND and provide disclosures regarding the products that will be launched.

This post also has lot of information about the financial terms used in investment circles. I encourage you to go through it and ask for questions down-thread. As suggested by two users above, I will get the guys behind this to answer any queries and engage in the discussion.

I cannot stress this enough but I have to say that I came across BarnBridge while looking for something more than speculative teams that are out to fleece more and more people into buying tokens. I watched their Project Management calls (https://github.com/BarnBridge/BarnBridge-PM) and got engaged in the Discord asking questions and lurking around. There are no guarantees in this space but BOND is the kind of team that is committed to delivery as well as decentralization. Decentralization doesn't mean that everyone will be satisfied. Yet, it does mean that it will give you an opportunity if you engage and contribute. So do not wait. Like I always say, try to learn and contribute in whatever small way you can.

By reading some of the main page is very interesting and makes it really big but I prefer to wait for the next stage of the information that the team will provide later. don't be so careless. ;)

Next stage of information like the one directly above yours? Because well, it is quite a read, and I can't see how someone can still be considered as careless after they read the article. Perhaps what you're trying to advise is: don't be so careless-ly posting without really giving the thread a read?

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CM (I smiled when i type this, congrats), are the things mentioned in the article (stress test, internal and external audit, bug bounty, etc.) still in planning phase and yet to be implemented or are they already done at one point in the past?

Thanks for chipping in Miiike. As you said, BarnBridge already has a lot of information out. The next stage is launch of DAO platform. There are a LOT of moving parts and they will only increase with the launch of products. Thy are developing this for the long run and I assume that the top investors always have the resources to stay invested. It is not kind to the small investors. I personally would say that a small investor should try to see long term value and simply HODL. LPs and the ETH fees at present make moves by small guys so costly that it is not worth it. This is also quickly changing in the whole space with plans to move to L2 and proposals like the one Balancer has ongoing about distributing rewards to make up for fees. (I doubt it'll  pass though)

For anyone looking to get into this space, you must research and get familiar with the various initiatives in there. It can seem like a lot but at the end it is worth it, not necessarily monetarily but the learning makes you a better participant.

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Thank you..!

The external audit for DAO is ongoing with Quantstamp and Haechi. I will update the thread when results come. The article basically informs the way that BB will ratify the risk of its products when the Smart yield bond and Smart yield Alpha will launch. The "products" from BB are actually risk-based derivatives. A bridge between Traditional Finance and DeFi. This is a whole new rabbit-hole in itself. Do join the discord and ping me there. Always good to have people actually interested in governance and the space than just quick flips.

how much the bond price will be launched later ? Is the bond price stable coin ? does bond create bounties to be known by many people and ICO events?

The BOND token is governance token for the DAO which is going to be launched after audit reports.

Its not a stable-coin and is not for speculation. It is for voting power in the DAO.

There is no ICO as I have said in the original thread. There are bounties when Mark from BarnBridge creates them. There is a weekly bounty of 50 DAI for transcribing the Project calls. You can keep abreast of further developments from Discord and Twitter.

BOND price is $53, it isn't a stable coin, the price ranges $19-$145. Coins that have been trading on the market for a long time, these coins will not run bounty campaigns.

I would like to give some details there. The token is currently being distributed by providing liquidity on Uniswap. The BarnBridge team had made it clear from the beginning that they will not look for aggressive CEX listings. The initial price was decided by the first pool deployed on Uniswap in end of October'20. ~140$. It then went below 20 and stayed there for some 7-8 weeks with every weekly distribution. Just last week it increased to the current price of 50+.

It should be kept in mind that the total supply is 10 Million out of which a little over 2 1 Million are in circulation. The locked USDC/sUSD/DAI on the Pool 1 divides 32000 bond each week amongst the stakers. Those who provide liquidity on Uniswap (Pool 2) divide 20,000 per week amongst them. The risk-free Bond staking pool (Pool 3) divides 5000 tokens per week. This will come to an end on coming Sunday, Jan 31st. Post this, $BOND can be staked in DAO. With DAO launch, all of these things will be open to change as is the case with any other DAO.

As far as bounties are concerned, this will also be the DAO's decision in coming weeks and months depending on the progress and needs of the project. So its not like there won't be any bounties. Just that you'd have to be involved and active in the community whenever they come.

Sorry, got a bit confused, current circulating supply is at ~2mil or is it around ~1mil (I got this number from your website). And still about token unlocking, the one you referred to end by 31 Jan is the token allocated for community, the 68% ones?

My mistake Miike. The current circulating supply is around 1 mil like you said.

The last epoch will start on 31st. This will be the last week for Pool 3 and we will have the launch of DAO after hopefully the audits come back clean. The actual distribution of the token will continue for 100 weeks starting from October 19th, 2020. You don't have to worry as that 68% distribution to community is well into the future..:)

Oh, I see. So the 100 weeks gradual release is not just for team allocation, but for community allocation as well. Understandable and quite fair.

One thing, though, a lot of projects with long gradual token unlocking are facing a situation where their token were stuck at one price because once the token price goes up, an unlock happen and "flooded" the total supply. It triggers a panic sell and price goes back down. And, this happens over and over. Departing from this argument, wouldn't it be better to sum those unlocking stages into smaller waves? Although the smaller waves means a bigger amount of token "flooding" the market.

The distribution of $BOND is happening in waves just like you say. But i understand what you are talking about. Even with this gradual unlocking, with almost all projects a stage comes when speculators are holding a lot of coins and just waiting to sell the news. The team cannot avoid speculators holding it or trying to take profit. This is unfortunately the case with most of DeFi right now and the first priority is 100X returns and not the project.

The strength of any project is thus a community of people that actually understands and cares for the product and not just for the return. The BarnBridge team is looking to launch products which will actually democratize risk management which has been the niche for established players till now. That is a humungous but worthy target. Most people are too short-sighted to see opportunities in front of them. This is why that despite the efforts to democratize, you only end up with a very few enthusiasts at the top.

I think that is just the natural course of thing. Most projects try but they cannot do much about it. The other problem is the "Rich getting richer" syndrome. Finding a solution to this is pretty much the "holy grail" of democratization.

Yes, I couldn't agree more about this, many projects seems to be failed to see the importance of solid community. Several would even treat their community like second or third thought, failing to realize that those same people could destroy price if not attended. As well as I also believe that strength in numbers is also applied to some degree here. And with these thought said, what rough plans does barnbridge's team has in mind to boost their community's loyalty?

The BarnBridge DAO has been activated after the threshold for 400,000 BOND staked was crossed. The TVL sits at 530 Million out of which 26 Million are in the Governance pool. Please note that these values can change based on the price of the $BOND token.

The DAO can now discuss proposals that are beneficial to the platform. The threshold to submit a proposal is quite high as you need at least 1% of the staked bond to create a proposal. Yet, you can vote and contribute towards the discussion. The product launch in the form of SMART Yield is awaited from the team.

I have talked to the team about rewards programs and waiting for their response. Will update as soon as something comes up.

Is there any other way to earn BOND tokens beside providing liquidity? I did not tried some farming before because of very high fees in multiple transactions needed before you can farm a token, and Is there any plans to change ethereum chain to bsc which is more cheaper fees.   

For the time being, there are three ways to earn but all involve putting something at stake:

1. Stablecoin staking: You can stake USDC/sUSD/DAI and earn a proportion of the reward. There are lot of whales staking in this pool so rewards are low. The pool has around 530M USD staked which earns 32000 BOND per week. So if you stake 1000 USDC, you will get (1000/500,000,000) * 32000 = 0.064 BOND per week ~3 USD per week. These pools are essentially risk-free except the smart-contract risk.

2. LP on Uniswap: 1000 USD worth of LP on Uniswap will get you 0.6 BOND per week ~ 30 USD. This of course has the IL and associated fees for staking, swapping, buying.

3. BOND Governance staking: The governance pool has 610,000 total BOND as reward or 50 weeks. This means, each BOND will earn 1.18 BOND in 50 weeks if the total staked bond remains at the current 512K.

Apart from Staking, the BOND community is open for anyone to contribute. The community will decide upon the rewards through governance voting. The parts are all there. It is hoped that the next set of buidlers and contributors will find a place in a natural manner.

LATEST UPDATES:

• The Smart Yield product has been online with Compound, AAVE and CREAM. The DAO has voted for additional rewards in the form of $BOND tokens for these pools and the APRs are pretty juicy as on time of posting for depositing stablecoins.
  
  https://i.imgur.com/qImaLCe.jpg
• The BOND token was listed on Gemini exchange. (https://www.gemini.com/prices/barnbridge)
• The BarnBridge team selected a group of community members to act as the Integrations team. They have been doing good work of managing the Discord and providing latest updates. The Substack called BarnBurner (https://barnburner.substack.com/p/barnburner-may-28th-2021) is the best place to get those updates.
  

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The best place to get in touch and be a part of the community is the Discord. If you have a bent for learning about financial products or are already knowledgeable about them, then you can be an important member in a short time. We are always looking for sincere inputs and discussions over there. Come Join Here. (https://discord.gg/zyn8WucCZk)

A lot going on with BarnBridge. Slowly and steadily building up the money legos and the bridges between Traditional Finance and DeFi. Here is the latest:

1. Listed on Coinbase (https://www.coinbase.com/price/barnbridge) and launch of Coinbase Earn campaign.

2. Listed on Binance. Read the Binance Research report here (https://research.binance.com/en/projects/barnbridge).

3. Launch of Smart Exposure: (https://medium.com/barnbridge/introducing-smart-exposure-7bba19385761) The latest product offering from Barnbridge allows users to maintain constant positions between two assets. Currently it supports WETH/WBTC and WETH/USDC.

4. Soon to Come: Smart Yield on Polygon network (https://twitter.com/0xPolygon/status/1412071518331293698) to lower the fees for taking up Senior and Junior positions.

Always remember, $BOND is BarnBridge and you can always find the latest updates on the BarnBridge Substack (https://barnburner.substack.com/p/barnburner-may-28th-2021) and the discord group (https://discord.gg/zyn8WucCZk).

PS: Keep watching this Space..