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- BarnBridge is a protocol to tokenize risks.
- The token’s current market capitalization is US$93.9 million.
- Binance, KuCoin, MEXC, BingX etc. crypto exchanges offer this token for buying, selling, and trading.
BarnBridge (BOND) cryptocurrency, which ranks 269th on Coinmarketcap by market capitalization, soared 75% on Wednesday, while the global crypto market continued advancing with a 4.43% rise to a market capitalization of US$1.07 trillion.
The BOND token traded 75.51% higher at US$13.36 at 6:33 am ET.
The token has no individual development to back the price rise, but it could be due to the overall market’s movement where many crypto projects have gained on the day.
The protocol has announced this week to launch BarnBridge v2, which will offer a sustainable fixed yield to users. The new version is under audit and will be launched soon.
Let us explore how does it work?
BarnBridge is a protocol to tokenize risks. This protocol allows users to hedge against price volatility and yield sensitivity.
Troy Murray and Tyler Ward founded the project in 2019, and the token was launched in 2020.
The project aims to make DeFi more flexible and efficient by tokenizing market fluctuations and risk exposures. It offers investment in tranches enabling market participants to invest according to their risk profile. The senior tranche investors receive fixed interest, while junior investors get the remaining proceeds without guaranteed payment.
Other DeFi platforms in the market provide yield on some assets but do not always offer fixed income. BarnBridge, on the other hand, can aggregate yields with fixed income.
It also creates tokenized derivatives based on market fluctuations, such as rate of return, prices, market prediction odds etc. These derivatives tokens are categorized into high to low risk and rewards.
Its product offerings are SMART Yield, a hedge against interest rate risk in DeFi, SMART Exposure, to rebalance between any two assets passively, and AMART Alpha, to control exposure to the performance of assets.
The core team develops the DAapps, and the BarnBridge DAO community governs the project.
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BOND is an ERC20 standard token used for the utility and governance of the BarnBridge network.
The token gathered attention, and its trading volume rose 39.40% over the last 24 hours to US$138 million. Its circulating supply is 7.06 million BOND out of the total 10 million. The token’s current market capitalization is US$93.9 million, and the total value locked (TVL) is 3.17 million.
Crypto exchanges such as Binance, KuCoin, MEXC, and BingX offer the token for trading.
There are nearly 470 DeFi projects in the market, and around 70% are up on Wednesday in sync with the category’s gain. The crypto market is known for its extreme volatility, and there is no safety net in terms of regulations. Thus, the investors must be careful while choosing a project for investment.
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