Badger DAO

Badger is a DAO focused on bringing utility and yield to Bitcoin by making it easy to use in DeFi on other blockchains. The goal is to be the one stop app for all things Bitcoin in DeFi: mint, borrow, yield, swap, liquidity.

Their governance token is the BADGER token. Badgers core product is yield generating vaults (called SETT vaults). SETT vaults allow users to deposit many flavors of tokenized BTC (wbtc, renbtc, tbtc, sbtc etc.) and these vaults execute strategies on other DeFi protocols to return yield to the depositor. The user will pay a small performance fee on the profits but will save substantially on gas costs.

Badger's second product is DIGG, a ‘rebasing’ Bitcoin. An elastic supply cryptocurrency that's pegged to the price of Bitcoin. Rebasing simply means that depending on the price of DIGG relative to the price of BTC, the supply will either expand or constrict, in an effort to drive the price of DIGG to its peg, the price of BTC. In addition to rebasing mechanics, Badger is emitting DIGG rewards to users who provide liquidity (helping to peg price) to DIGG if they stake their sushiswap or uniswap DIGG LP tokens in the SETT vaults.
The BADGER token holders govern the DAO and decide everything.

BADGER token emissions started in December 2020 and continue today. Of the 21,000,000 maximum BADGER, 15% (3,115,000 BADGER) were airdropped to DeFi participants and 23% (4,830,000 BADGER) were allocated to an 8 week liquidity mining program for SETT vault participants. Users who stake their tokenized Bitcoin positions or supported LPs, their BADGER tokens, or their DIGG tokens received additional BADGER rewards.

Vault products at Badger DAO auto-compound the underlying assets as well as give depositors additional rewards relative to the underlying position:

If the underlying position is a sushi LP, then the user will also accumulate xSUSHI rewards If the underlying position is a curve LP, the user will also accumulate CRV and CVX rewards. Certain BADGER token specific LP vaults will receive BADGER token rewards.Staking BADGER for more BADGER

The Badger Boost program is a distinguishing feature which increases vault position rewards for users with more value in native tokens (BADGER/DIGG) than non-native SETT positions.

Badger’s entire product suite exists on Ethereum and they are bringing their products, at varying capacities, to Binance Smart Chain, Polygon, and Arbitrum. Their unique BTC-in-DeFi products coupled with the positive feedback loop of Badger Boost and multichain deployments could generate high long-term trading volume and BADGER price.