BarnBridge

BarnBridge was a decentralized autonomous organization (DAO) that developed a protocol for risk tokenization and structured financial products on the Ethereum blockchain. Its mission was to make the decentralized financial system more risk-flexible and efficient for a wider range of participants. The protocol allowed users to split the yield from underlying assets into different risk tranches, creating senior tokens (fixed, lower-risk yield) and junior tokens (variable, higher-risk yield). The project was governed by holders of its native token, $BOND. In October 2023, the U.S. Securities and Exchange Commission (SEC) charged BarnBridge DAO and its founders with failing to register their structured crypto products as securities, leading to a settlement that required the DAO to cease operations and wind down.