Similar to how we saw the evolution of stablecoins lead us to smart stablecoins and a myriad of utility, what may come next is the evolution of the utility of BTC on Ethereum. BadgerDAO is working to create a product suite that accelerates the growth of BTC on DeFi. It aims to be a unified force in building out utility for the integration of BTC on ethereum.
BadgerDAO is not like most other projects. Security has always been top of mind with an audit done even before the fair launch started. The community driven approach and strategic initiatives to become deep-rooted in the ecosystem are working so far. It’s been able to amass a community of BTC and DeFi natives who care about increasing the functionality of the industry’s largest asset.
Why is Badger interesting?
- The project is a first mover in the role somewhat similar to a specialized Yearn with targeted focus on the largest asset for which holders will seek utility, BTC.
- BTC on Ethereum already has PMF. It’s bigger in $ TVL than the top dApp. From 2019 to 2020, BTC on Ethereum rose from 1,040 BTC to 138,530 BTC (13,220% increase and MV of $5.2B). Currently only 0.705% of the BTC supply is on Ethereum. I think as services for BTC on DeFi continue to get better, that number will grow substantially.
- Core focus on Bitcoin enables BadgerDAO to focus on primitives to reduce barriers to entry. Build better
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