BarnBridge has been using the “DAO First” governance model, which means it has never been, and never will be, a traditional company. Instead, BarnBridge founders decided to launch the project as a DAO and split the governance between the core team. This DAO was called LaunchDAO.
It was created using Aragon DAO Company Template which uses transferable tokens to represent ownership stake. Decisions are made based on stake-weighted voting with the $BBVOTE token.
The Founders received 45%, Seeders received 45%, and Advisors got 10%. The minimum voting support is set to 62%, meaning for a proposal to be passed it must be approved by at least 62%. The funds from the seeders and the initial supply of the $BOND token will be kept in the Launch DAO treasury. You can find the LaunchDAO here.
BarnBridge DAO is the DAO that is controlled by the $BOND community. The BarnBridgeDAO has full control over the protocol and the features that are built into it. It is the final protocol DAO. BarnBridge DAO specifications are fully covered by this Medium post: BarnBridge DAO: Built for the Future.
LaunchDAO was a temporary DAO that consisted of the project founders, seeders and advisors for building the initial version of the protocol. LaunchDAO used $BBVOTE token.
BarnBridge DAO is the final DAO where the community can vote with their $BOND tokens. The BarnBridge DAO is the core component of the BarnBridge platform as it enables decentralized decision making to enforce actions in the interest of the community. Find more details about our “DAO First” approach in this Medium post: DAO First: A new governance model.