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What Is BadgerDAO?

Sep 15, 2022
4 min read

This blog post will cover:

  • About BadgerDAO (BADGER)
  • Where did BadgerDAO (BADGER) come from?
  • What are the advantages of BadgerDAO (BADGER)?
  • What are the disadvantages of BadgerDAO (BADGER)?
  • How to buy BADGER?

About BadgerDAO (BADGER)

Badger Finance is a decentralized autonomous organization (DAO) that has its own unique infrastructure. The main goal of this protocol is to create products that could promote Bitcoin for ensuring other blockchains in the DeFi space. BadgerDAO has two such products: Digg (a currency that has an elastic supply that is pegged to Bitcoin) and Sett (its own yield aggregator). Sett works with tokenized BTC assets. With its help, users receive income from their working assets. The holder's wallet balance depends on the Digg price. Thus, if it is higher than the Bitcoin rate, then the balance is higher and vice versa.

The BADGER token can be held, traded, used to vote on the platform, and it is also used for farming earnings. BADGER directly affects all BadgerDAO products and protocols, so it is quite in demand on the market. The Badger DAO community has the right to make all management decisions by voting, for example, on creating new products or simply submitting new ideas.

Where did BadgerDAO (BADGER) come from?

The project was created back in 2020, its founder is Chris Spadafora. He is an entrepreneur who has experience in founding several companies. In order to avoid mistakes, the development team initially collaborated with dOrg (which specializes in creating software related to the DAO).

The BADGER token was launched through honest liquidity mining. At the same time, there were no intermediaries, such as investors, anonymous patrons, or funds. In this way, BadgerDAO was easy to achieve decentralization, since the native token is not managed by one person or foundation.

What are the advantages of BadgerDAO (BADGER)?

  1. It solves the problem of liquidity in the DeFi space
    The return on liquidity pools is enhanced by the fact that all BTC included in the Badger ecosystem brings in over $50,000.
  2. It solves the problem of transparency
    This means that the BadgerDAO network uses smart contracts and, as we mentioned above, all decision-making is the responsibility of the community. Thus, it provides more transparency of all actions.
  3. Passive income
    Bitcoin holders are now discovering new opportunities that DeFi offers, such as staking, lending, and farming. Thus, the customers receive income without losing their own assets.
  4. High level of automation
    BadgerDAO aims to fully automate the investment strategies of its users. The burden on stakers and farmers is reduced by the fact that Sett Vaults automatically finds ways to earn that can provide maximum income.

What are the disadvantages of BadgerDAO (BADGER)?

  1. The network is susceptible to hacker attacks
    In July 2022, hackers broke into the Badger DAO network and stole a huge amount of assets from user wallets. We hear about such incidents in the Crypto World from time to time, and such events always leave their mark on the project's reputation.

How to buy BADGER?

BadgerDAO is a very ambitious decentralized platform, so if you also want to become a member of this ecosystem, you can buy the BADGER token by following several steps on SimpleSwap:

  1. Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  2. Select BADGER in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. BADGER will be sent to this address. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to BADGER crypto exchange.

Stay with us to always learn something new!

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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