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Highlights
- Badger DAO is a decentralized autonomous organization, which primarily aims to build dedicated products to simplify the use of Bitcoins.
- Powered by the Ethereum blockchain network, Badger DAO is driven by two main products SETT and DIGG.
- BADGER on Thursday was trading at US$16.73, with a volume of US$31,487,070.
Founded by Chris Spadafora, Ameer Rosic, Albert Castellana, and Alberto Cevallos, Badger DAO is a decentralized autonomous organization (DAO), which is aimed at building products that are dedicated to simplifying the use of Bitcoins as collateral across other blockchains.
Projects from across the DeFi space can come together in a shared ownership format and can implement collateral to multiple blockchains across the network. Shared ownership also brings shared incentives, which means offering similar rewards base to all the parties involved in the ecosystem.
On Thursday, Badger DAO was in hot trends following a 16% spike in price and volume gains of well over 60%.
Functioning primarily as DAO, the Badger gives the users the ability to vote on the governance of the token. Through a basket of multiple DeFi products, it is able to make Bitcoin a usable asset throughout the blockchain network.
Last year in November, Badger DAO was struck by hackers who made merry with US$120.3 million in cryptocurrency. Many investors lost their money in the process, which according to security firm PeckShield accounted for at least 2,100 Bitcoins and 151 Ethereum tokens.
Why is Badger DAO unique?
Powered by the Ethereum blockchain network, Badger DAO is driven by two main products SETT and DIGG. As a community-driven project, SETT is primarily a DeFi aggregator, which acts as a flash loan mitigator by tokenising BTC. Through this, users can earn yield and token yield farmers can deposit their respective BTC in the SETT vault and earn 0.5% profit to cover the 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.
Is BADGER DAO token worth it?
BADGER crypto on Thursday was trading at US$16.73 with a volume of US$31,487,070. BADGER token was up by 18.27% in the last 24 hours. It enjoyed an impressive volume spike too as it zoomed by 68.87% and was enjoying a live market cap of US $209,719,290 with 2,537,868 BADGER coins in circulation.
The rally has given BADGER some breathing space following the hacking incident last year. It should win users’ confidence. Experts feel the developers would be hoping to see this rally continue for a longer period to gain some lost ground.
