BADGER is an Ethereum token that powers Badger DAO, a decentralized autonomous organization (DAO) focused on bringing Bitcoin into the decentralized finance (DeFi) ecosystem on Ethereum and other blockchains. BADGER is primarily used to govern the direction of Badger DAO and its products.
What Is BadgerDAO (BADGER)?
Trading under BADGER, the BadgerDAO is a decentralized autonomous organization (DAO) that is focused on bringing Bitcoin (BTC) into the decentralized finance (DeFi) ecosystem and other blockchains. According to the official website, BadgerDAO is essentially a yield earning platform where traders can deposit their Bitcoins into the platform to earn interest. Yield farming is a process of stakingcryptocurrency to earn interest as passive income.
As per the whitepaper, one of the problems of Bitcoin is that the currency doesn’t support the smart contract features of Ethereum. Moreover, the infrastructure of products and protocols for enabling Bitcoin on other blockchains is very limited. This limits the usage of Bitcoin in the space of decentralized finance. This means Bitcoin users cannot earn a yield on their BTC tokens. Also, this makes it difficult for users of both platforms to trade with each other. To address this problem, BadgerDAO was formed to allow Bitcoin to have smart contract features and accelerate trade on other blockchains. The BadgerDAO aims to build the products and infrastructure to accelerate the potential of BTC in DeFi.
Running on Ethereum, BadgerDAO has launched products to achieve its goals. The first product is Sett Vaults. Sett Vaults allow users to earn a yield on their Bitcoins. The second product launched by the platform is Digg. Digg is the software that manages the DIGG token, which is a cryptocurrency pegged to the dollar price of Bitcoin. And lastly, Badger Bridge is the product that allows users to swap their Bitcoins to function on the Ethereum blockchain.
$BADGER is the native token of the platform and is the platform’s cryptocurrency. As the platform works as a DAO, the tokens find their primary utility as the governance token. This means the token holders can vote on the improvement proposals set forth by the community. The more tokens a user holds, the more voting power they get.
History of BadgerDAO
Launched in 2020, the platform was cofounded by Chris Spadafora, Ameer Rosic, Albert Castellana, and Albert Cevallos. The team collaborated with dOrg for the development of the platform.
The BadgerDAO platform had a fair launch, i.e., all the launched tokens were fairly distributed to all the participants to give equal opportunity and benefit.
How Many BADGER Tokens Are There?
The maximum supply of BadgerDAO tokens mirrors that of Bitcoin, i.e., 21 million. This means that after mining the full supply, no further tokens can be mined.
How to Purchase BadgerDAO Tokens
You have a lot of options when it comes to BadgerDAO, including Coinbase. You can buy BadgerDAO on Coinbase.com or Coinbase app, anywhere Coinbase is available.
