Article Summary, Automatically Generated By AI
Summary of Badger DAO
Overview
- Badger DAO is a decentralized automated organization that simplifies the use of Bitcoin as collateral across smart contract platforms.
- It’s a shared space for developers to collaborate and implement Bitcoin as collateral on multiple blockchains.
Key Features
- Two main products: Sett and DIGG
- Sett: a DeFi aggregator with flash loan mitigation measures focused on tokenized BTC
- DIGG: a non-custodial synthetic Bitcoin on Ethereum’s blockchain
Tokenomics
- Circulating supply: 7,339,511 tokens as
About Badger DAO: Empowering Decentralized Finance
Introducing Badger DAO (BADGER): A Revolutionary DeFi Ecosystem
Badger DAO is an open-source, decentralized autonomous organization dedicated to crafting innovative products and infrastructure that facilitate the seamless utilization of Bitcoin (BTC) as collateral across a multitude of smart contract platforms.
The platform serves as a collaborative hub where innovative developers, dubbed Badge Builders, converge to integrate Bitcoin as collateral across a multitude of blockchains. By doing so, developers can earn a percentage of the fees and BADGER tokens from the developer mining pool for each successful implementation. Notably, the mainnet was successfully launched on December 3, 2020.
A builder can encompass a solitary developer, a collective of developers, or even a corporate entity. The beauty of this ecosystem lies in its lack of stringent participation requirements, allowing anyone to contribute and create. The pillars that underpin Badger DAO comprise the Badger Builders, community-driven products, the dedicated Badger Operations team, the fair initial distribution of BADGER tokens for governance purposes, and the open-sourcing of all code.
The Visionaries Behind Badger DAO: Meet the Founders
The founder of Badger DAO is Chris Spadafora, a seasoned crypto aficionado, astute investor, and esteemed partner at Angelrock.
Unveiling the Unparalleled Excellence of Badger DAO
Badger DAO boasts two flagship products: Sett and DIGG. As a community-driven endeavor, Badger DAO adheres to a rigorous development process, wherein any prospective products must first be pitched, voted on, and approved by token holders before they can be brought to fruition.
Sett is a decentralized finance (DeFi) aggregator that boasts robust flash loan mitigation measures, specifically designed to safeguard tokenized BTC through a quintet of strategies. Upon making a deposit, users can reap a yield, as the protocol’s smart contract seamlessly assumes the responsibility.
To incentivize participation, farmers who deposit tokenized BTC into the Sett vault are rewarded with BADGER and DIGG. Notably, a 0.5% fee is levied, and an additional 4.5% is deducted from the profits to offset gas and transaction costs.
DIGG is a decentralized, non-custodial synthetic Bitcoin on Ethereum’s blockchain, pegged to the value of BTC, boasting a dynamic supply and a rebasing mechanism. Its primary objective is to eliminate the need for centralized intermediaries.
What Is the Circulating Supply of Badger DAO (BADGER) Coins?
As of March 2021, Badger DAO (BADGER) boasts a circulating supply of 7,339,511 tokens, with a capped maximum supply of 21,000,000 BADGER tokens.
The Security Architecture of the Badger DAO Network
Badger DAO has successfully cleared the inaugural audit of its smart contracts, conducted by the esteemed Zokyo audit team, with a clean bill of health, devoid of any critical issues.
Badger DAO has instituted a security advisory committee comprising esteemed white hat hackers, who conduct regular audits of the project’s ecosystem. Furthermore, Badger DAO intends to introduce incentives for public peer reviewers and implement a bug bounty program, fostering a collaborative approach to ensuring the integrity of its ecosystem.
Where to Acquire Badger DAO (BADGER) Tokens
Badger DAO (BADGER) is listed on a variety of prominent cryptocurrency exchanges, where it can be conveniently bought or sold.
- The esteemed Binance
- Huobi Global, a prominent player
- OKEx, a stalwart in the industry
- FTX, a trailblazer in derivatives
- ZT, a rising star
New to cryptocurrency trading? Start with our comprehensive guide on how to purchase Bitcoin (BTC), available here.
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