BarnBridge DAO is an initiative, which grants voting rights to the BOND holders and lays the foundation for the BarnBridge products. The BarnBridge DAO is the only source of minting products on top of the blockchain and launching them into the wild.
BarnBridge DAO is governed by the BOND tokens and empowers the community by enabling decentralized decision making on the BarnBridge protocol.
BarnBridge DAO is controlled by the BOND community. The BarnBridge DAO have full control over the protocol and the features that are built into it. We are doing this through the use of the Diamond Standard (EIP-2535), which allows us to upgrade the protocol without having all the members remove their tokens and switch to a version 2 of the protocol that time arises. The BarnBridge DAO have full control over the Diamond which provides amazing flexibility in the web3 space.
No lock stake
Withdraw your BOND
Delegate actual balance
Proposal creation threshold
Quorum & acceptance
a proposal work?
Users that hold enough vBOND can create a proposal. A proposal creator can only have one active proposal at a time but can vote on other proposals.
Proposal has a maximum number of 10 actions that can be executed. When the proposal is executed, either all actions are executed or none of them. If one action reverts, the whole proposal execution reverts.
After being created, proposal enters the Warm-up state to allow people to stake their BOND.
After Warm-up, any user can vote. The voting period starts immediately. At the first incoming vote if the creator’s balance falls below the 1% threshold the proposal is cancelled automatically or it can be cancelled by calling a function.
Once a proposal becomes executable, any users can call the execute function. If the proposal is not executed during the Grace period, it is marked as expired and cannot be executed anymore.
Once a proposal is accepted, it will have to wait in a queue before it can be executed. During this time, it can be canceled by:
- the creator;
- anyone if the creator’s balance falls below the 1% threshold;
- cancellation proposal.
Proposal is formed of:
- List of Targets (Addresses)
- List of Values
- List of Signatures
- List of Calldata
Each proposal should include some documentation, etc.
Abriogation proposal is a special type of proposal with the 50% of staked BOND acceptance criteria. It can be created only during the Queue period.
A regular proposal can only have one associated cancellation proposal at any given time.
When the abrogation proposal starts, a new snapshot for voter balances is taken. Abrogation proposal’s duration is never greater than the initial proposal’s Queue period. Abrogation proposal’s end time is the same as the initial proposal’s end time.