What is BarnBridge? BarnBridge is a protocol that helps users earn fixed and variable interest rates depending on each investor’s taste. So what is BarnBridge? Let’s find out in this article!
What is BarnBridge?
BarnBridge is a protocol that allows users to earn fixed and variable interest on their deposits by swapping variable APYs from currency markets for fixed APYs. On BarnBridge both stable assets (Stablecoins) and volatile assets are supported.
BarnBridge was initially built and developed on Ethereum. But because of fee barriers, the project switched to Arbitrum for development. BarnBridge currently supports two networks: Ethereum and Arbitrum.
Mechanism of Action
On BarnBridge there are 2 main products: Smart Yield and Smart Alpha:
Smart Yield: The product supports stable assets such as Stablecoins: USDC, DAI, FEI,… Based on the risk level you choose Barnbridge will send these Stablecoins to Lending platforms such as Compound, AAVE, Cream. When depositing Pool assets, users need to choose a term of 1, 3, 6 months or 1 year. Users will receive bonds or can be considered debit notes when sending assets to the Pool. On Smart Yield there will be 2 types of Pool: Senior Pool and Junior Pool.
- Senior Pool: As a fixed and safe yield pool, Senior Pool usually has lower interest rates than Junior Pool.
- Junior Pool: Is the profit pool more volatile and risky.
Smart Alpha: The product supports volatile assets such as BTC, ETH,… Here assets will be calculated based on USD price. On Smart Alpha there are also 2 Pools: Senior Pool and Junior Pool.
- Senior Pool: The person who deposits assets in this Pool will receive a fixed yield and the initial asset value added to the Pool without any impact when asset prices fluctuate.
- Junior Pool: People who deposit assets in this Pool will receive positive or negative returns depending on the asset’s fluctuations. If the price of the property in the Pool increases, the user receives this profit and has an additional profit from the residential property Senior Pool after deducting the fixed interest rate. In case the property price decreases, users in this Pool will suffer a loss and will also bear the loss of the residential property Senior Pool.
Core Team
Tyler Scott Ward: Co-Founder
- He attended and successfully obtained a Bachelor’s degree in finance at Stetson University.
- After graduating, he started his first job as a Relationship Specialist at Charles Schwab. Here he developed strong relationships with high net worth clients and investment advisors to improve their businesses and improve their profitability.
- He then worked as Enterprise Sales Associate at Dynatrace. But after working for Dynatrace for 1 year, he left to start a business with Giddy. It helps design and oversee every aspect of a small business from e-commerce design to product development and branding.
- After 7 years with his first Startup, he moved to work at RivalHealth. He is the regional sales manager for the Raleigh-Durham, North Carolina area. He assists in building and implementing successful sales models and outbound strategies. Lead company sales representative for the entire year 2015 for 6 months.
- He founded the second startup, Prank Candles, in 2015. But after 5 years, he continued to start a business with Proof Systems until now. And currently he is also Co-Founder Barnbridge.
Dragos Rizescu: Co-Founder
- It took him nearly 10 years to successfully earn two bachelor’s degrees at Tudor Vianu National College of Computer Science and University Politehnica of Bucharest.
- After graduating he worked at ConsenSys, the company behind Metamask and several other projects. At ConsenSys he started as a Software Developer and was promoted to Product Manager.
- In August 2020, he became a Co-Founder of BarnBridge until now. In addition, he is Co-Founder of Otterfish and Managing Partner of Digital MOB
Investors
September 11, 2020: Funding round successfully raised $1M invested by ParaFi Capital, Centrality, Fourth Revolution Capital, Stani Kulechov, Kain Warwick.
Tokenomics
Overview information about BarnBridge Token
- Token Name: BarnBridge
- Ticker: BOND
- Blockchain: Ethereum
- Standard: ERC-20
- Contract: 0x0391d2021f89dc339f60fff84546ea23e337750f
- Total supply: 10,000,000
- Maximum Supply: 10,000,000
Token Allocation
- Uniswap LP Rewards: 20.00%
- Community Reserve: 17.70%
- Var Pool Incentives: 17.50%
- Staking Rewards: 4.80%
- Core Team: 12.50%
- DAO Treasury: 10.00%
- Yield Farming: 8.00%
- Private Sale: 7.50%
- Advisors: 2.00%
Token Use Case
Government: Users when Staking BOND have voting rights on the DAO.
Exchanges
BOND tokens are traded on exchanges such as Binance, MEXC, Bingx,…
BarnBridge Information Channel
- Website: https://barnbridge.com/
- Twitter: https://twitter.com/barn_bridge
- Medium: https://medium.com/barnbridge
- Discord:
Summary
So I have clarified what BarnBridge is? Hope this article brings you a lot of useful knowledge.