Badger DAO is an open source, decentralized automation organization dedicated to building products and infrastructure to simplify the use of Bitcoin (BTC) as collateral on many smart contract platforms.
The platform is a shared space where developers called badge Builders have the ability to collaborate and implement Bitcoin as collateral for as much of the blockchain as possible. Developers earn a percentage of fees and BADGER tokens for each implementation from the developer mining pool. The mainnet was launched on 3 December 2020.
builder can be a single developer, a group of developers, or even a company. Participation requirements have no fixed obligation and anyone can create them. The pillars of the Badger DAO include Badger Builders, community-created products, dedicated Badger operations teams, initial distribution of Badger tokens for governance, and all of the code being open source.
Badger DAO has two main products: Sett and DIGG. Badger DAO is a community-driven project; Therefore, before any products can be developed, they first need to be recommended, voted on and approved by token holders.
Sett is a decentralized finance (DeFi) aggregator that takes emergency loan mitigation measures against BTC through five strategies. Once a user deposits money, they get paid when the agreed smart contract completes its work.
To incentivialize this participation, farmers who tokify BTC into Sett vakers can get BADGER and DIGG. In addition to the 0.5% fee, an additional 4.5% is deducted from the profit to cover GAS and transaction costs.
DIGG is an unmanaged synthetic bitcoin on the Ethereum blockchain that is linked to the price of BTC with flexible provisioning and relocation capabilities. Its main goal is to eliminate centralized third parties.
BADGER is the ERC-20 governance token for the BADGER DAO.