Badger DAO is an open-source, decentralized organization that focuses on creating products and infrastructure to simplify using Bitcoin (BTC) as collateral across various smart contract platforms.
This platform acts as a collaborative environment where developers, referred to as Badge Builders, can work together to integrate Bitcoin as collateral into numerous blockchains. Each time an implementation is successfully completed, developers can earn a share of the fees along with BADGER tokens from the developer mining pool. The mainnet officially went live on December 3, 2020.
Participants can be individual developers, teams, or even companies, with no set obligations for involvement. Participation is open to anyone. Key components of Badger DAO include the Badger Builders, community-initiated products, the Dedicated Badger Operations team, a fair initial distribution of BADGER tokens for governance, and the open-source nature of all code.
Who Are the Founders of Badger DAO?
Chris Spadafora, a longtime enthusiast and investor in cryptocurrencies, as well as a partner at Angelrock, founded Badger DAO.
What Makes Badger DAO Unique?
Badger DAO stands out with its two primary products: Sett and DIGG. As a community-driven endeavor, new products must first be proposed, voted on, and approved by token holders before development begins.
Sett functions as a decentralized finance (DeFi) aggregator that implements flash loan prevention strategies centered on tokenized BTC through five different tactics. Once a user deposits, they can earn yields as the smart contract takes over the task.
To encourage participation, users who deposit tokenized BTC into the Sett vault receive rewards in BADGER and DIGG. A 0.5% fee is charged, and an additional 4.5% is taken from profits to handle gas and transaction expenses.
DIGG is a synthetic Bitcoin on Ethereum's blockchain, designed to be non-custodial and pegged to BTC's price with a supply that can adjust according to market conditions, aiming to eliminate reliance on centralized intermediaries.
How Many Badger DAO (BADGER) Coins Are There in Circulation?
As of March 2021, there are 7,339,511 BADGER tokens in circulation, with a total cap set at 21,000,000 BADGER.
How Is the Badger DAO Network Secured?
Badger DAO's smart contracts underwent an initial audit by the Zokyo audit team, which reported no critical vulnerabilities.
The DAO has put together a security advisory committee made up of white hat hackers who regularly examine the project's ecosystem. Additionally, Badger DAO intends to create incentives to reward peer reviewers and is planning to launch a bug bounty program.
Where Can You Buy Badger DAO (BADGER)?
Badger DAO (BADGER) is available for trading on these exchanges:
* Binance
* Huobi Global
* OKEx
* FTX
* ZT
If you're new to the world of cryptocurrency trading, check out our guide on how to purchase Bitcoin (BTC) here.
