The Branched release is the first one in the Fedora Release Life Cycle - pre-Alpha, and freshly forked from Rawhide.
The Branch Freeze Policy describes the process of building packages during this phase. Essentially there are non-rawhide repositories with the version number of the release-to-be (currently 42). New builds go to the "updates-testing" repository; after approval in Bodhi, they are promoted directly to the "stable" repository for that release. (There is no "updates" repository until the final general availability release.)