Badger DAO update: BADGER Live price, price chart, news and markets

Badger DAO is a decentralized autonomous organization (DAO) that has a mission to promote the use of Bitcoin as collateral across blockchains by developing innovative products and infrastructure. It offers staking vaults that utilize automated yield and re-investment strategies, allowing users to earn yields on wrapped Bitcoin tokens.

Badger DAO was established with the purpose of providing more avenues for collateralizing Bitcoin in the decentralized finance (DeFi) space. Previously, the options for leveraging BTC as collateral were limited, often requiring users to rely on centralized custodial services or borrow against their Bitcoin. Recognizing the need, the team behind Badger DAO saw the opportunity to bridge Bitcoin collateral with automated yield strategies in DeFi, starting with the Ethereum ecosystem and eventually expanding to other blockchains.

In September 2020, Badger DAO introduced its governance token, $BADGER, which was distributed through staking vaults known as Setts. These Setts offer a variety of yield strategies within the DeFi ecosystem. By staking their tokens for longer lock-up periods or across multiple Setts, users can enjoy boosted yields. Additionally, users have the ability to bridge from $BTC to $renBTC, earn the algorhythmically rebasing $BTC-pegged token $DIGG, and exchange wrapped $BTC for the interest-bearing Bitcoin token $ibBTC.

As Badger DAO's Total Value Locked (TVL) surpassed $1 billion, it attracted a direct investment of $21 million from venture capitalists in March 2021. This investment serves as a liquidity backstop and a security measure for the Badger DAO treasury, and the venture capital partners actively participate in the ongoing governance of the DAO.