{"id":10508,"date":"2023-05-08T16:54:22","date_gmt":"2023-05-08T16:54:22","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10508"},"modified":"2022-05-17T08:36:26","modified_gmt":"2022-05-17T08:36:26","slug":"what-is-badger-dao","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao","title":{"rendered":"What is Badger DAO?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#what_is_badger_dao_its_history\" >What is Badger DAO: its history?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#how_does_badger_dao_work\" >How does Badger DAO work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#what_is_the_badger_token\" >What is the BADGER token?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#what_is_badger_token\" >What is Badger Token?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#what_is_digg\" >What is Digg?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-badger-dao\/#what_is_september\" >What is September?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p class=\"p1\">In the world of cryptocurrencies there are\u00a0<strong>several very interesting projects<\/strong>. One of them is\u00a0<strong>Badger DAO<\/strong>\u00a0and its token BADGER. This project seeks to accelerate the use of Bitcoin in the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-defi-o-decentralized-finance\/\">DeFi world (decentralized finance)<\/a>. If you want to learn more about this project in this article we will tell you all about what it is and how it works.<\/p>\n<p class=\"p1\">The word DAO stands for\u00a0<strong>decentralized autonomous organization.<\/strong>\u00a0The main goal of this project is to be a complete ecosystem where projects across the DeFi landscape collaborate in\u00a0<strong>building and developing<\/strong>\u00a0products. In this project developers are allowed to align their incentives with decentralized\u00a0<strong>governance<\/strong>. All with the goal of bringing developers together by seeking\u00a0<strong>collaboration<\/strong>\u00a0over competition.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_is_badger_dao_its_history\"><\/span><b>What is Badger DAO: its history?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p class=\"p1\">The Badger DAO project was launched by\u00a0<strong>Chris Spadafora<\/strong>, its founder. The launch took place in<strong>\u00a0September 2020<\/strong>. The community that runs the project is focused on equity and decentralization of\u00a0<strong>token distribution.<\/strong><\/p>\n<p class=\"p1\">Token distribution on Badger DAO was accomplished by\u00a0<strong>retroactive\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-cryptocurrency-airdrop\/\">airdrops<\/a><\/strong>\u00a0from users who had previously interacted with governance on known DeFi protocols. Such users created\u00a0<strong>tokenized\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bitcoin\/\">BTC<\/a><\/strong>\u00a0variables and these were donated to Gitcoin.<\/p>\n<p class=\"p1\">The project code was\u00a0<strong>audited<\/strong>\u00a0prior to launch and the founders still maintain their rewards in order to ensure\u00a0<strong>alignment<\/strong>\u00a0with the success of the project through proper initiation over the\u00a0<strong>long term.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_764390728\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu%C3%A9-es-Badger-DAO.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO-300x205.jpeg 300w\" alt=\"Qu\u00e9-es-Badger-DAO\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"how_does_badger_dao_work\"><\/span><b>How does Badger DAO work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p class=\"p1\">Badger DAO, como su nombre indica, funciona como una\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-una-dao\/\"><b>organizaci\u00f3n<\/b>\u00a0<b>aut\u00f3noma<\/b>\u00a0descentralizada<\/a>\u00a0que promueve el uso del Bitcoin\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-tokenizar-o-proceso-de-tokenizacion-guia-rapida\/\"><b>tokenizado<\/b><\/a>\u00a0en forma de garant\u00eda en los protocolos DeFi. Esto lo logra a trav\u00e9s del desarrollo de\u00a0<b>productos<\/b>\u00a0y el fortalecimiento de conexiones\u00a0<b>DeFi<\/b>\u00a0con la garant\u00eda de Bitcoin.<\/p>\n<p class=\"p1\">Como toda\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-una-dao\/\">DAO<\/a>\u00a0cuenta con un gobierno descentralizado encargado de\u00a0<b>garantizar<\/b>\u00a0una participaci\u00f3n incentivada y una oportunidad justa para todos los usuarios del sistema. Este gobierno est\u00e1 impulsado por\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-y-como-funciona-aragon-ant\/\"><b>Aragon<\/b><\/a>, el servicio judicial descentralizado del sistema.<\/p>\n<p class=\"p1\">The governance of the protocol is based on community\u00a0<strong>consensus and control<\/strong>\u00a0over smart contracts to achieve actions and\u00a0<strong>promote<\/strong>\u00a0the cause of the project. The community and token-holding users are in charge of determining the direction of the project and changing its objectives if necessary. All decisions made by the government are\u00a0<strong>binding and enforced<\/strong>\u00a0without exception.<\/p>\n<p class=\"p1\">Badger DAO also has a<strong>\u00a0liquidity mining<\/strong>\u00a0program like most DeFi protocols. This program incentivizes users to contribute liquidity to\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-smart-contract\/\">smart contracts<\/a>. In exchange for their collaboration users receive the platform\u2019s governance token,\u00a0<strong>BADGER<\/strong>. In addition they also receive the\u00a0<strong>DIGG<\/strong>\u00a0token that is linked to Bitcoin.<\/p>\n<p class=\"p1\">It also has a liquidity\u00a0<strong>program for developers<\/strong>\u00a0where the development of projects is rewarded with tokens. These profits are in addition to the rewards of\u00a0<strong>Gitcoin<\/strong>\u00a0donations for all those users who\u00a0<strong>contribute<\/strong>\u00a0to the promotion and development of<strong>\u00a0open source software.<\/strong>\u00a0Both the program and the issuance fee are controlled by the DAO directly.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_843315945\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu%C3%A9-es-Badger-DAO2.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO2.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO2-300x205.jpeg 300w\" alt=\"Qu\u00e9-es-Badger-DAO\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO2.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO2-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/Qu\u00e9-es-Badger-DAO2.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_is_the_badger_token\"><\/span><b>What is the BADGER token?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p class=\"p1\">The BADGER token is the platform\u2019s\u00a0<strong>native<\/strong>\u00a0token. It is an\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-erc-20-token\/\">ERC-20<\/a>\u00a0token used for protocol governance as well as user incentivization. This token shares with Bitcoin the same amount of the total supply limited to<strong>\u00a021 million coins,<\/strong>\u00a0however, its nature is inflationary. This is because even though it has a limit, coins are r<strong>eleased gradually.<\/strong><\/p>\n<p class=\"p1\">The Badger DAO team assures that this currency does not have a monetary value except for the value it receives from the\u00a0<strong>free<\/strong>\u00a0market itself. Most of the supply is<strong>\u00a0controlled<\/strong>\u00a0by the DAO and is used depending on<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-cryptocurrency-governance-system\/\"><strong>\u00a0governance<\/strong><\/a>\u00a0decisions.<\/p>\n<p class=\"p1\">Currently it is no longer possible to edit the full supply of the coin. One of the features that stand out is that there was no\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-ico-initial-coin-offering\/\">ICO<\/a><strong>\u00a0(Initial Cryptocurrency Offering)<\/strong>\u00a0at the launch of this token and the Badger DAO team did not provide any\u00a0<strong>liquidity<\/strong>\u00a0to any of the exchanges. Both developer and team rewards have a<strong>\u00a0time<\/strong>\u00a0limit and there is a mechanism devised to launch according to the wishes of the community depending on\u00a0<strong>performance and as a bonus.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_is_badger_token\"><\/span><b>What is Badger Token?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p class=\"p1\">As mentioned above, Badger DAO has introduced an\u00a0<strong>awarded token<\/strong>\u00a0instead of staking BADGER tokens on the platform. Through this token Badger\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-cryptocurrency-staking\/\">staking<\/a>\u00a0has become viable on the platform and can be used in various DeFi protocols.<\/p>\n<p class=\"p1\">Staking rewards will also be\u00a0<strong>distributed<\/strong>\u00a0on this new token and are automatically capitalized. This token has two main\u00a0<strong>objectives<\/strong>. The first is to block more Badger tokens by creating\u00a0<strong>negative selling<\/strong>\u00a0pressure and the second is to increase the value of the governance token as it has new uses such as collateral,\u00a0<strong>liquidity backing<\/strong>, among others.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_is_digg\"><\/span><b>What is Digg?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p class=\"p1\">Another major Badger DAO\u00a0<strong>product<\/strong>\u00a0is Digg, a rebasing token. Simply put, Digg resets to the BTC price<strong>\u00a0exactly every 24 hours<\/strong>. It is something like a synthetic version of Bitcoin but without custody that daily tracks the\u00a0<strong>BTC-USD feed.\u00a0<\/strong><\/p>\n<p class=\"p1\">Each wallet receives a larger amount of tokens when the Bitcoin price<strong>\u00a0increases<\/strong>\u00a0or conversely, they<strong>\u00a0lose<\/strong>\u00a0tokens if the price decreases. The main goal is to create a\u00a0<strong>decentralized<\/strong>\u00a0token without relying on third parties.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_is_september\"><\/span><b>What is September?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p class=\"p1\">Sett is the first Badger DAO product to feature\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-defi-o-decentralized-finance\/\">DeFi<\/a>\u00a0aggregation and automatic performance optimization on\u00a0<strong>tokenized Bitcoin products<\/strong>. As stated in the project documentation, this creation is based on the performance of the\u00a0<strong>Yearn vault<\/strong>\u00a0system.<\/p>\n<p class=\"p1\">In this system, users\u00a0<strong>deposit<\/strong>\u00a0their assets and the\u00a0<strong>smart contract<\/strong>\u00a0automatically rotates them to find the best return. This does not require much user intervention and the\u00a0<strong>rewards increase proportionally<\/strong>\u00a0to the time the assets remain invested.<\/p>\n<p class=\"p1\">Among the strategies used are\u00a0<strong>renBTC, tBTC, sBTC and wBTC<\/strong>. In addition to these, the protocol also employs other native farming strategies. Among these we find simple vaults with\u00a0<strong>variations<\/strong>\u00a0of multiple strategies, plus compounding strategies,\u00a0<strong>impermanent loss mitigatio<\/strong>n, BTC\u00a0<strong>neutral strategies<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>In the world of cryptocurrencies there are\u00a0several very interesting projects. One of them is\u00a0Badger DAO\u00a0and its token BADGER. This project seeks to accelerate the use of Bitcoin in the\u00a0DeFi world (decentralized finance). If you want to learn more about this project in this article we will tell you all about what it is and how [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10508"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7604"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}