Bridge Mutual has added another amazing entrepreneur and blockchain enthusiast to our team. Tyler Ward, the co-founder of the Barnbridge DAO, has invested in Bridge Mutual and has been brought on as a Voluntary Advisor. We are excited to welcome him aboard.
New Beginnings
As we progress towards launch, we’ve been doing everything we can to add valuable talent and experience to the team. Barnbridge co-founder, Tyler Ward, has vast experience in the blockchain space as a project founder and successful entrepreneur; his insights, network and past experiences have already proven to be extremely useful to our project, and we are thankful for his time and effort. As someone who has already developed and executed a majorly successful DAO-governed platform, Tyler will be able to help our team avoid common pitfalls in our own journey as we progress to DAO governance. Despite the similarity in name, Barnbridge and Bridge Mutual are not related or connected.
What is the Barnbridge DAO?
A DAO, or decentralized autonomous organization, is an organization that has its operational rules preprogrammed and predetermined, meaning the conditions of the organization are automatically applied and enforced. DAOs are meant to be fully decentralized and autonomous and controlled by the community at large, not the original creators. Barnbridge is an example of a DAO, meaning the community as a whole is responsible for the upkeep and future of the platform.
The idea behind Barnbridge is to take traditional financial instruments and introduce them to the decentralized finance sector. Barnbridge is a protocol offering fluctuating derivatives for hedging against yield sensitivity and market price, running on the Ethereum platform. Since the inception of the Barnbridge network in October of this year, over $200 million in total value has been locked on the platform.
What is Bridge Mutual?
Bridge Mutual is a decentralized, DAO managed, peer-to-peer discretionary insurance platform. Bridge offers discretionary insurance against stablecoins, cryptocurrency exchanges, and smart contracts, and offers users the option to hedge against potential downside risk from hacks or attacks. Bridge will be launching on Ethereum and will migrate over to the Polkadot network via an Ethereum-compatible parachain once one is available. The Bridge protocol will create yields for its users by automatically investing dormant capital into a variety of yield generating on-chain protocols, including Barnbridge.
Mutually Beneficial Collaboration
Bridge Mutual will be able to offer discretionary insurance and protection to Barnbridge users and the Barnbridge DAO as an entity in the event of a malicious attack, adding a valuable layer of protection for Barnbridge users. Likewise, Bridge Mutual will be able to utilize the Barnbridge platform to generate yield for its coverage providers.
