What Is Badger DAO?
Badger DAO is a project that aims to bridge the gap between Bitcoin and DeFi by facilitating using Bitcoin as an investment asset across the DeFi ecosystem on Ethereum and other blockchains.
Background
Chris Spadafora, Ameer Rosic, Albert Castellana, and Alberto Cevallos founded Badger DAO in 2020. Badger DAO was founded to enable the deposit of ERC-20 token variations of Bitcoin, such as WBTC or renBTC, into vaults and automate yield generation. The project was established to allow users to earn yields on their Bitcoin investments within the DeFi space.
How It Works
Users can deposit ERC-20 token variations of Bitcoin into Badger DAO vaults, which then deploy these assets into other protocols such as Convex Finance, Yearn Finance, SushiSwap, and more. Badger DAO also offers the ibBTC token, an index of interest-earning, BTC-pegged tokens on Ethereum, and the DIGG token, a BTC-pegged, elastic supply, rebasing token on Ethereum.
Key Takeaways
- Badger DAO bridges the gap between Bitcoin and DeFi.
- Users can deposit ERC-20 token variations of Bitcoin into vaults.
- Vaults deploy assets into other DeFi protocols to generate yield.
- Badger DAO offers the ibBTC token and the DIGG token.
- BADGER is the governance token of Badger DAO.
