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Investing in Badger DAO (BADGER) – Everything You Need to Know

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The Badger DAO (BADGER) project operates as a decentralized autonomous organization (DAO) that focuses on enabling Bitcoiners to take advantage of DeFi (decentralized finance) features and services. Enabling Bitcoiners to stake, farm, and P2P (peer-to-peer) lend out their crypto provides advantages for the entire sector. As such, the Badger DAO (BADGER) has seen rapid adoption.

Badger DAO’s ecosystem now has $955,833,001 in total value locked across 40 different vaults. Additionally, there are +30,957 registered users. The firm lists $240 million in treasury holdings at this time.

What Problems Does Badger DAO (BADGER) Solve?

One of the main issues that Badger attempts to fix is a lack of interoperability between Bitcoin and newer networks. A lot has changed over the last 11 years regarding blockchain technology. Legacy systems like Bitcoin are not set up to support the latest DeFi services. As such, there is a large portion of cryptocurrency users who have not been able to gain access to any DeFi rewards.

Badger DAO (BADGER) - Twitter

Badger DAO (BADGER) – Twitter

Badger DAO seeks to change this using its unique approach. The protocol leverages BTC-pegged collateralized digital assets to enable HODLers to earn while they keep their coins safe. The ability to bridge Bitcoin into other blockchains has long been a desire of both users and developers.

Lack of Liquidity

Another major issue that plagues the DeFi market is a lack of liquidity. As more DeFi networks go live, the number of users continues to grow, but also splinter. Since most of these protocols don’t communicate freely, their liquidity is trapped within the network.

Badger DAO provides networks with access to valuable liquidity. Every BTC that enters a DeFi network adds +$50,000 to the ecosystem. These funds improve the returns on liquidity pools and other DeFi services.

Lack of Transparency

The Badger DAO seeks to put users in charge. DAOs replace the personal and actions of corporations or organizations with smart contracts. They provide real transparency to projects. Users vote on all activities related to the direction of the platform. These votes can include changes to the platform’s fees, services, features, and more.

Benefits of Badger DAO

There are a million reasons why a Bitcoin investor would want to enter the DeFi sector. DeFi removes the centralized components from the financial equation such as banks and gatekeepers. As such, it provides a host of benefits to users. Primarily, DeFi shares the profits that were once regulated to the bank with community members.

Badger DAO (BADGER) - Sett Vaults

Sett Vaults

Passive Income

Bitcoiners can now take advantage of staking, farming, lending, and other DeFi services. These services are ideal for HODLers because they allow users to earn rewards without relinquishing ownership of their assets.

Automation

Badger DAO provides powerful automation to your investment strategy. The network uses Sett Vaults which can be programmed to seek out the highest yields. This feature reduces the workload for farmers and stakers.

Rewards

There are a variety of rewards, competitions, and events that Badger hosts. Users who participate in the market consistently become eligible for Badger Boost. The Badger Boost provides higher rewards to users that hold more BADGER, bBADGER, DIGG, and bDIGG.

How Does Badger DAO Work?

The Badger DAO integrates a Dapp, a DAO, and a custom cryptocurrency. The DAO handles all of the network’s core decision-making. It also manages the assets to provide a base interest rate. This rate is derived from the return of the underlying Sett Vaults.

Sett Vaults

Sett Vaults benefits users because they pool funds together to save money on transaction costs. These flexible smart contracts enable users to deposit over twenty different Bitcoin-linked crypto assets. These assets are automatically distributed to the best risk-adjusted rewards in the DeFi sector. These rewards can be set to automatically re-deposited into your Sett Vault to improve your principal investment.

ibBTC

Interest Bearing BTC is a synthetic token that is collateralized by an index of the top Bitcoin-pegged assets in DeFi. These digital assets include wBTC, renBTC, sBTC, and tBTC. idBTC can function on Ethereum, Matic, and the BSC (Binance Smart Contract) at this time. The developers behind the Badger DAO seek to expand this list in the coming months.

How to Mint ibBTC

Anyone can mint ibBTC. The process requires you to provide byvWBTC, bCrvRenBTC, bCrvRenSBTC,or btBTCcrv to Sett Vaults byvWBTC, bCrvRenBTC, bCrvRenSBTC, or btBTCcrv. Once you mint idBTC, you can begin earning interest on your holdings.

Badger Bridge

The Badger Bridge protocol operates as a critical component of the Badger ecosystem. This system locks up Bitcoin and creates a pegged token that can enter into other DeFi networks. It also enables Bitcoiners to earn a yield for HODLing the network’s native utility token BADGER.

BADGER - CoinGecko

BADGER – CoinGecko

BADGER

BADGER is an ERC-20 token that enables users to participate in the BADGER DAO. The more BADGER you hold and the more your vote weighs. This approach ensures that those who share a financial interest with the network have the most sway. This approach prevents malicious actors from skewing the vote as they would lose the most.

DIGG

DIGG is a Bitcoin-pegged token. Unlike Badger, DIGG has an elastic supply. This feature enables the DAO to better control the value of the token via burns and buybacks.

Badger DAO (BADGER) Hack

Badger DAO has been in the news this month as it was the victim of a massive hack. According to reports, the network had around $120 million in crypto stolen which included 2,100 BTC and 151 ETH. Forensics have shown that the hackers drained users’ wallets using malicious contract permissions. Notably, the news dropped the value of the BADGER token by +20%.

How to Buy Badger DAO (BADGER)

Badger DAO (BADGER) is available on the following exchanges: 

Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.

BinanceBest for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Badger DAO (BADGER). Use Discount Code: EE59L0QP for 10% cashback off all trading fees. 

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.  This exchange currently accepts International & United States residents.

Coinbase – A publicly traded exchange listed on the NASDAQ.  Coinbase accepts residents from 100+ countries including Australia, Canada, Singapore, UK & the United States (excluding Hawaii).

Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.

How to Store Badger DAO (BADGER)

We recommend using ZenGo, a multi-chain crypto wallet for everyone. Store 70+ digital assets including Badger DAO (BADGER) with unbelievable simplicity and bulletproof security. ZenGo is known for its legendary, 24/7 in-app customer support and its keyless MPC technology that gives you full control over your crypto, but is always recoverable.

ZenGo is available worldwide including Australia, Canada, Europe, UK, & USA (Purchases are restricted in Hawaii, New York, Rhode Island, US Virgin Islands).

Now is the Time to Prove Your Worth

It’s nothing new for a platform to get hacked in the crypto market. Now is the time where Badger DAO’s users will see if they made the right investment. Hopefully, Badger DAO will follow in the footsteps of other hacked networks like Dogecoin to repay those who took a loss and strengthen their brand. For now, the entire market awaits its next move.

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

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