General Characteristics
Badger DAO is a decentralized autonomous organization (DAO) established in September 2020. It operates on the Ethereum blockchain, utilizing smart contracts to manage its ecosystem. The platform's primary mission is to bring Bitcoin into the decentralized finance (DeFi) space, enabling the use of Bitcoin as a productive asset within the Ethereum ecosystem.
Its first product, Sett Vaults, enables users to earn yield on tokenized Bitcoin assets. The second, DIGG, introduces an elastic supply token pegged to Bitcoin's price. By combining governance through the $BADGER token and its innovative DeFi tools, Badger DAO aims to create an efficient and decentralized financial ecosystem.
Key Details:
- Launch Date: September 2020
- Blockchain: Ethereum
- Key Products: Sett Vaults and DIGG
- Governance Token: BADGER
- Supply Cap: 21 million tokens
Badger DAO was founded by Chris Spadafora, Ameer Rosic, Albert Castellana, and Alberto Cevallos, leveraging their expertise to drive the integration of Bitcoin into DeFi. The organization collaborates with other leading DeFi projects like Yearn, Ren, and Curve to enhance interoperability.
Community
Badger DAO has cultivated a strong and active community, emphasizing transparency and collaboration. Governance decisions are made by BADGER token holders, ensuring a decentralized approach to development and operations.
Community Metrics:
- Twitter: 49.3K Followers
- Telegram: 5.5K Subscribers
- Discord: 10.5K Members
The DAO's forums and social media channels serve as key platforms for discussions, proposal voting, and updates, fostering a participatory environment.
Roadmap
Badger DAO’s roadmap focuses on enhancing the utility of Bitcoin within DeFi through new products and partnerships. Future goals include integrating native Bitcoin deposits, developing compounding strategies, and deploying additional vaults.
Upcoming Features:
- Single asset vaults with multiple strategies
- Elastic supply innovations for DIGG
- Expanding Sett Vault offerings
- Utility enhancements for bBADGER tokens
Functionality and Utility
Badger DAO’s ecosystem offers robust tools for earning yield and participating in governance. Sett Vaults allow users to deposit tokenized Bitcoin and earn returns through automated strategies. The DIGG token, with its elastic supply, is designed to maintain a peg to Bitcoin’s price while allowing users to earn yield through staking and liquidity provision.
Core Functionalities:
- Sett Vaults: Automated yield generation for tokenized Bitcoin.
- DIGG Token: Elastic supply cryptocurrency pegged to Bitcoin.
- Governance: BADGER token holders vote on proposals and manage protocol operations.
- Composability: bBADGER tokens can be used as collateral across DeFi platforms.
Market Performance
Price and Market Cap
The current price of BADGER is $4.11, representing a 4.34% increase over the past 24 hours. Badger DAO's market capitalization stands at $83.37 million, making it a relatively mid-sized project in the DeFi space.
The all-time high price for BADGER was $45.75, which was reached on November 10, 2021. Since then, the token has experienced a significant decline, losing over 90% of its value. However, the recent uptick in price suggests that investor interest in Badger DAO may be on the rise again.
Trading Volume and Liquidity
The 24-hour trading volume for BADGER is reported to be $27.2 million, indicating a relatively high level of trading activity. This trading volume represents a 51.07% increase compared to the previous 24-hour period, suggesting that investor interest and liquidity are on the rise.
In terms of liquidity, the Badger DAO project has a Vol/Mkt Cap ratio of 32.06%, which is considered high for a DeFi project. This high liquidity score suggests that the BADGER token is relatively easy to buy and sell, making it an attractive option for traders and investors.
Circulating Supply and Max Supply
The total supply of BADGER tokens is capped at 21 million, with the current circulating supply standing at 20.29 million tokens. This means that approximately 96.6% of the total supply is currently in circulation.
The high percentage of circulating supply relative to the max supply suggests that Badger DAO has a relatively mature and established ecosystem, with a significant portion of the tokens already distributed to users and investors.
Comparative Analysis
When compared to other DeFi projects, Badger DAO's performance appears to be somewhat mixed. While its market capitalization and trading volume are respectable, it has experienced a significant decline from its all-time high, similar to many other DeFi tokens.
However, the project's high liquidity score and the large percentage of circulating supply relative to the max supply suggest that Badger DAO has a relatively stable and mature ecosystem. This could make the token an attractive option for investors seeking exposure to the DeFi space.
It's important to note that the DeFi market, and the broader cryptocurrency market as a whole, can be highly volatile and subject to significant price swings. Investors should always conduct their own research and due diligence before making any investment decisions.
Official Links
Official Website
Twitter
Discord
Telegram
Where to Buy
Binance
Coinbase
Kraken
Gate.io
Huobi
OKX
Uniswap
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