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Badger DAO FAQ
Badger DAO is a decentralized platform that enables DeFi users to access Bitcoin (BTC) on Ethereum and other blockchains. Its product, Sett, allows users to utilize tokenized versions of BTC, such as wBTC and renBTC, and optimize their yield by moving them across various DeFi chains. Badger DAO also offers Digg, a synthetic and chain-native form of BTC designed for DeFi accessibility.
Badger DAO offers several benefits. It allows Bitcoin holders to access DeFi opportunities on Ethereum, Binance Smart Chain, and Polygon. Moreover, by staking BADGER tokens, users can earn additional rewards within the Badger DAO ecosystem. The protocol follows decentralized transparency standards, providing token holders access to a vote-based governance system.
Acquiring BADGER tokens is a simple process on the OKX TR spot trading terminal, which offers the BADGER/USDT trading pair for smooth and convenient transactions.
You can also buy BADGER with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for BADGER with zero fees and no price slippage by using OKX TR Convert.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into BADGER, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
Dive deeper into Badger DAO
Badger DAO (BADGER) is a decentralized autonomous organization (DAO) that operates within the realm of decentralized finance (DeFi). The platform facilitates collaboration among developers to integrate BTC-specific collateral across various blockchains. Similar to how chains like Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (MATIC) rely on Ethereum, Badger DAO focuses on utilizing tokenized Bitcoin (BTC). This allows users to access DeFi functionalities and leverage the benefits of Bitcoin within the decentralized ecosystem.
What is Badger DAO?
Badger DAO is a decentralized network of developers known as Badger Builders. They primarily integrate BTC as collateral across different blockchain networks. Developers can earn fees through these implementations based on the activity level within a specific pool where the collateral is utilized. Additionally, developers can receive BADGER tokens, the native tokens of the Badger DAO ecosystem, as rewards for their contributions. Badger DAO aims to make it more convenient for BTC holders to participate in DeFi.
The Badger DAO team
Badger DAO was established in 2020 and is spearheaded by Chris Spadafora, a passionate crypto enthusiast and a partner at Angelrock. The team behind Badger DAO emphasizes decentralization and maintains a significant level of anonymity in line with their ethos.
How does Badger DAO work?
Badger DAO operates through two main products: Sett and Digg. Sett is a DeFi aggregator that optimizes the yield on your deposited BTC, while Digg is a synthetic version of BTC designed for the Ethereum blockchain, offering a rebase function and flexible supply. The rebase mechanism automatically adjusts the token supply based on the tracked asset's price, such as BTC in the case of Digg. Badger DAO follows a community-driven approach, where product decisions and changes require vote-based approval from BADGER token holders.
Badger DAO’s native token: BADGER
Badger DAO's native token is called BADGER. It has a fixed supply cap of 21 million tokens, with 19,492,085 tokens currently in circulation. BADGER tokens can be staked on the Badger DAO platform. To stake, connect your Ethereum wallet containing BADGER tokens, specify the number of tokens you wish to stake, and confirm the transaction.
BADGER use cases
BADGER tokens have multiple use cases within the Badger DAO ecosystem. The primary use case is for network governance, allowing token holders to participate in decision-making processes and shape the direction of the protocol. Additionally, BADGER tokens are used to reward ecosystem-specific activities, incentivize engagement with the protocol, and encourage community participation. Users can also earn additional BADGER tokens by providing liquidity for specific trading pairs or through staking.
BADGER token distribution
The distribution of BADGER tokens is allocated to various segments within the Badger DAO ecosystem. These segments include airdrops to specific DeFi users, rewards for liquidity miners or providers, developer incentives, community treasury contributions, and staking rewards. The specific percentage allocation to each segment is determined through community-based proposals and governance mechanisms, allowing the community to have a say in distributing BADGER tokens.
What’s the future like for Badger DAO?
Badger DAO is committed to maintaining a secure ecosystem, as evidenced by its successful completion of the Zokyo audit, regular ecosystem reviews, and bug bounty programs. One of the critical objectives of Badger DAO is to establish BTC as a mainstream participant in DeFi, enabling the seamless movement of BTC across different blockchains. This forward-looking approach indicates a promising future for Badger DAO as it strives to bridge the gap between Bitcoin and the DeFi ecosystem.
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