What Is Badger DAO?
BADGER is the native token of the Badger DAO crypto project, which is a decentralized autonomous organization. Chris Spadafora is the founder of Badger DAO. The project aims to make the use of Bitcoin as collateral through various platforms based on smart contracts easier. Essentially, it seeks to provide the products and infrastructure required for the wide adaptation of Bitcoin across multiple blockchains. Make sure to check out the Badger DAO price chart above to see the live BADGER price.
Sett and DIGG are two main projects developed on the Badger DAO. Sett is a DeFi aggregator, while DIGG is a non-custodial token pegged to the Bitcoin price. You’ll find a bit more detailed description below.
Badger DAO allows various developers to collaborate in the process of implementation of Bitcoin into multiple blockchains. Anyone can become a Badge Builder – an individual, a team, or even an organization. The developers are referred to as Badge Builders.
The Badger Builders can earn BADGER tokens for each implementation they make. The rewards are taken from the developer mining pool. Overall, the platform has a central reward management system called Badger Tree, which relies on Merkle trees for reward distribution.
Besides, Badger DAO released BIP24 in January 2020. Essentially, it’s a Badger Boost for token holders. According to a new policy, holders can receive rewards that are increased proportionally based on the amount of BADGER they have in their wallets.
What Is the BADGER Token?
BADGER is the governance and utility token of the Badger DAO. Firstly, it allows holders to participate in the governance processes of the platform. Apart from that, Badger DAO tokens can be held or used in the yield farming process. Again, don't forget to take a look at the Badger DAO price chart above to see the current BADGER price.
Badger DAO has various crypto vaults that are referred to as Sett vaults. These vaults are one of the main products of the platform. Users are given the opportunity to deposit their funds into the vaults to generate yield.
They can implement various techniques that take advantage of the chances provided by various DeFi protocols to generate as much yield as possible. Though in order to deposit BADGER tokens into a vault, holders have to stake the tokens to mint bBADGER.
The max supply of BADGER is 21 million tokens. You can buy Badger DAO coins on various crypto exchanges. However, note that the Badger DAO price is quite volatile. This means that it fluctuates. Usually, this happens because various factors that affect the whole crypto market also end up affecting the BADGER price.
Sett and DIGG
DIGG is a rebase token pegged to the price of Bitcoin. It’s like a synthetic Bitcoin token that can be used on the Ethereum network. The supply of DIGG is elastic. This means that it can be changed based on the demand of the whole crypto market.
Sett is a yield aggregator with five flash loan mitigation solutions. It concentrates on tokenized Bitcoin. Essentially, Sett consists of three types of vaults – tokenized Bitcoin vaults, LP vaults, and protocol vaults.
Users can earn yield by making deposits to these vaults. Those who deposit their tokenized BTC tokens into the vaults are able to earn BADGER or DIGG tokens. A 0.5% withdrawal fee must be paid in order to withdraw funds any time the holder wants. Additionally, a 4.5% fee from generated profit is taken to cover gas and transaction costs.
