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Friday, September 17, 2021

Badger DAO Defi Coin Review: Community Rules Everything

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About Badger DAO

Badger DAO is an open-source, decentralized automated organization that is dedicated to building products and infrastructure of simplifying the use of Bitcoin (BTC) as collateral across many smart contract platforms.

The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation. The mainnet was launched on December 3, 2020.

Badger DAO Coin builder can be a single developer, a group of developers, or even a company. There are no fixed obligations to participation requirements, and anyone can create. The pillars of include the Badger Builders, the community-created products, the Dedicated Operations team, the fairly initial distribution of the BADGER tokens for governance and the fact that all of the code is open-sourced.

API3 Defi Facts

BADGER Finance Facts
Defi Coin NameBadger DAO
Short Name BADGER
Total Supply21,000,000
SourceClick Here To View Source
Chat Option Click Here To Visit Chat
ExplorersClick Here To View Explorers
Official WebsiteClick Here To Visit

How Does Work

The DAO market has accelerated more than ever in 2020, with companies forming DAOs to follow the trend of community-led governance of their products. It is what DeFi companies are doing to stay “hip,” and ride the decentralization narrative that the Ethereum community tends to salivate over. Governance tokens are becoming the new “utility token” from 2017, with limited functionality, and even less user retention. All in all, the current bearish market behaviour in September of 2020 is separating the true initiatives from the pump-and-dumps, which is a healthy thing for the industry. This allows for less noise to filter out when a legitimate project with genuine community-bolstering efforts emerges.

Who Are the Founders of Badger DAO?

The founder of Badger DAO is Chris Spadafora. He is a long-term crypto enthusiast, investor, and partner at Angelrock.

What Makes Badger DAO Unique?

Badger DAO Defi has two main products: Sett and DIGG. Badger DAO is a community-driven project; as such, before any products are developed they first need to be pitched to, voted on and approved by token holders.

Sett is a decentralized finance (DeFi) aggregator that has flash loan mitigation measures focused on tokenized BTC through five strategies. Once a user makes a deposit, they can earn a yield as the protocol’s smart contract does the work.

In order to incentivize this participation, farmers that deposit tokenized BTC into the Sett vault earn BADGER and DIGG. Aside from a 0.5% fee, an additional 4.5% is deducted from the profits to cover gas and transaction costs.

DIGG is a non-custodial synthetic Bitcoin on Ethereum’s blockchain that is pegged to the price of BTC with a flexible supply and a re-base function. Its main goal is to remove centralized third parties.

$DIGG Distribution Breakdown

  • DAO treasury: 2500 $DIGG- Allocated to the DAO for the community to decide how to best utilize. Similar to $BADGER there will be a 30 day post LM launch to prevent malicious actions.
  • Liquidity Mining: 2500 $DIGG- To earn $DIGG users must deposit in our Sett product. When $DIGG launches, you’ll earn both tokens during the appropriate timeframes. This our attempt to drive additional stickiness with the Sett product.
  • Team 312.50 $DIGG– The founding team will be rewarded $DIGG at every block that it’s mined through the LM event. All the tokens will be in a time-locked contract that we have no ability to touch. Tokens will be linearly released every month for 1 year.
  • Airdrop: 937.5 $DIGG- They believe most of the $DIGG airdrop allocation should be for those that step up during the early contributor program as they will be the people that will best ensure Badger aligns with community sentiment pre-launch.

How Many Badger DAO (BADGER) Coins Are There in Circulation?

Badger DAO (BADGER) has a circulating supply of 7,339,511 tokens as of March 2021 and a maximum supply of 21,000,000 BADGER.

How Is the Badger DAO Network Secured?

Badger DAO has passed the initial audit of its smart contracts by the Zokyo audit team with no critical issues found.

It has established a security advisory committee that is composed of white hat hackers that regularly review the project’s ecosystem. Badger DAO also has plans to develop incentives that will reward public peer reviewers and to launch a bug bounty program.

Where Can You Buy Badger DAO (BADGER)?

Badger DAO (BADGER) can be bought or sold on the following exchanges:

  • Binance
  • Huobi Global
  • OKEx
  • FTX
  • ZT
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