Badger DAO is a decentralized autonomous organization focused on bringing Bitcoin to decentralized finance (DeFi). It aims to build products and infrastructure necessary to accelerate Bitcoin as collateral across other blockchains. Badger DAO's primary objective is to create an ecosystem where Bitcoin can be used as a productive asset in DeFi applications.
The inception of Badger DAO
Badger DAO was launched in December 2020 with the goal of solving the lack of Bitcoin's integration within the DeFi space. The founders and community saw an opportunity to create a platform that could leverage Bitcoin's value while utilizing the functionalities of DeFi. The platform is built on the Ethereum blockchain, using smart contracts to facilitate its operations.
Core products and offerings
Badger DAO's platform is known for its innovative suite of products designed to integrate Bitcoin into the DeFi ecosystem. The primary products include:
Sett vaults
Sett vaults are automated yield farming strategies for tokenized Bitcoin. Users can deposit their Bitcoin-pegged assets, such as wrapped Bitcoin (WBTC), into these vaults to earn yield. The smart contracts automatically optimize and execute strategies to maximize returns for users.
Digg
Digg is a synthetic rebasing asset that is pegged to the price of Bitcoin. It is unique because it operates without relying on centralized oracles. Instead, it utilizes a decentralized rebase mechanism that adjusts the supply of DIGG tokens based on Bitcoin's market price, maintaining its peg over time.
Badger bridge
The Badger Bridge is a user-friendly tool designed to facilitate the transfer of Bitcoin from the Bitcoin blockchain to the Ethereum network. This bridge enables users to convert their Bitcoin into tokenized versions that can be used within the Ethereum-based DeFi applications.
Security and audits
Security is a top priority for Badger DAO. The platform's smart contracts undergo regular audits by leading security firms to identify and mitigate potential vulnerabilities. These audits are crucial for ensuring the safety of users' funds and maintaining trust within the community.