The first utility of BARD is staking. Even in the issue of tokenomics, the Lombard team is creating an innovative approach. They launched a 2-tier staking system for $BARD based on cryptoeconomic security First, they launched staking through Symbiotic. In practice, this means that validators will constantly monitor how LBTC moves between networks. If they notice harmful actions encouraging an attack on the protocol, they will receive a slash of BARD and lose the opportunity to participate in the protocol. Secondly, the innovation is that validators do not execute transactions themselves, but monitor the CCIP protocol from Chainlink. Thus, Chainlink oracles are under constant surveillance, in addition to the fact that they also internally verify the correctness of messages. This approach provides a 2-tiered security with built-in economic incentives - if everything works correctly, Symbiotic oracles and validators receive rewards, if an attack is detected, slashing is applied....
Introducing the first economically secured cross-chain bridging solution.
The collaboration combines @chainlink's CCIP with @symbioticfi's universal staking framework to introduce additional economic assurance for users transferring LBTC between blockchains.
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