Badger

What is Badger?

BADGER is the native governance token of BadgerDAO, an ERC-20 token with a fixed supply of 21 million. It serves multiple functions within the BadgerDAO ecosystem, allowing holders to participate in governance decisions, earn staking rewards, use it as collateral in various DeFi platforms, and boost APYs in select Vaults through the Badger Boost system.

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Recent Video Interview

Main points of the interview:

• Badger's role in advancing Bitcoin as collateral across blockchains,
• The DAO aims to enhance user participation through community governance and innovative product launches.
• BadgerDAO's commitment to decentralization, highlighting its trustless governance model and plans for cross-chain compatibility.

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Features

Fair Launch: BadgerDAO prioritized a fair launch, eliminating pre-mining, funding rounds, or tokens designated for venture capital. The absence of these features ensures a level playing field for all participants. Further details on the token's launch and initial distribution can be explored in the project's discontinued Medium Articles.

Badger Emissions: BadgerDAO periodically incentivizes vaults with BADGER tokens to boost deposits. Decisions regarding which vaults to incentivize and the allocation of BADGER tokens are made by the Council of Badger, utilizing up to 8,000 BADGER per week from the treasury. Importantly, no additional tokens are minted during this process.

Governance

BadgerDAO operates through a community-driven governance model, using Badger Improvement Proposals (BIPs) for major decisions. The BIP process involves discussion, forum feedback, voting, snapshot voting, and implementation. The Council of Badgers, formed in February 2021, plays a crucial role in handling grant requests and ensuring an engaged and empowered community.

Council of Badgers Framework: The Council 2.0 framework outlines the operations and responsibilities of the Council in BadgerDAO's governance. This includes the governance (BIP) process, forum signaling, snapshot voting, and implementation. The Council ensures that proposed BIPs are well-formatted, easily understood, considerate of various factors, and have clear implementation plans vetted by relevant stakeholders.

Security & Audits

BadgerDAO prioritizes security with a comprehensive strategy, including regular audits, a guarded launch, collaboration with a Council of White Hats, bug bounties, and integration with Nexus Mutual for insurance coverage. Despite these measures, users are reminded of the inherent risks associated with using decentralized finance applications, and thorough consideration is advised.

Risks of Using Badger: The risks associated with using BadgerDAO include smart contract risk, administrative key risks, strategy risks, asset risks, and impermanent loss risk. To mitigate these risks, BadgerDAO employs audits, a multisig system with a timelock, bug bounty programs, insurance, and careful selection of trusted DeFi platforms.

Vaults

BadgerDAO offers various vaults allowing users to deposit assets and earn yields through different DeFi strategies. Vaults may be incentivized with BADGER emissions, and users can freely withdraw their assets from most vaults without a lock-up period. The b-token system represents users' deposits, with a varying PPFS ratio. Vaults like bveCVX and graviAURA introduce unique features and considerations.

Badger Team Background and Investors

Chris Spadafora, the founder of Badger DAO, is a dedicated crypto enthusiast and seasoned investor. With a longstanding passion for the cryptocurrency space, he has played a pivotal role in the development and success of Badger DAO. Additionally, ParaFi Capital, a prominent investment firm, has contributed to the project's growth and development as one of its key investors.

Project Development

Towards the very end of 2023, in preparation for the imminent launch of eBTC Protocol, Badger is prioritizing security enhancements across its technological and operational domains. The surge in Web2 security threats, particularly impersonations and phishing scams on social platforms like Discord, has prompted Badger to transition its support infrastructure to https://badger.com.

Users seeking assistance can now utilize the intercom chat window on the landing page for support, ensuring a safer environment. Despite this shift, the familiar Badger support team remains in place. To further bolster security measures, Badger has enlisted cybersecurity firm GreyCastle to conduct a comprehensive audit of its systems, implement necessary upgrades, and provide ongoing support. This proactive approach reflects Badger's commitment to maintaining a secure and accessible environment for its users and community members during this critical period. The full audit results will be disclosed soon.

Badger Price Analysis

As of November 24 2024 Badger has a marketcap of $71M. This is {{percentagefromath}} from its all time high of $89.08. In terms of its tokenomics, there's a total supply of 21M with 95% currently outstanding. Keep in mind Badger has a fully diluted value of $75M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.