The decentralized finance (DeFi) sector is starting to awaken again following a seemingly month-long hiatus. A slew of new liquidity farming incentives are starting to hit the scene, and the latest goes by the name BOND.
The latest craze in DeFi is a yield farming and liquidity pool incentivization network called BOND. It is the product of BarnBridge which has just opened the floodgates for the flocks of DeFi farmers.
Before the official launch of liquidity mining, farmers had already contributed over $200 million into the smart contract pre-price discovery according to a tweet from the firm on Oct 25.
Within an hour of launching on Oct 26, over a million more had been accrued in the liquidity pool.
The protocol was announced in late September as a two-phased liquidity mining program. The program contains two sequential staking contracts with distinct specifications for token distribution. In essence, BarnBridge wants to bridge the gap between traditional finance (TradFi) and DeFi, building on the efficiencies of the latter in order to attract a wider range of participants;
“The migration of yield and yield-based derivatives from less efficient centralized financial systems to more efficient decentralized financial systems will be one of the largest movements of wealth in human history.”
It added that the DeFi sector will likely continue to create markets for TradFi firms that want to get away from the zero-interest yields that the industry has now sunk to amid a global economic meltdown. BarnBridge has created the first fluctuation derivative protocol with the aim of smoothing out the risk curve and offering layered risk management.-