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Badger DAO reviews

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Decentralised exchange.

Open source code can be publicly reviewed.

Reviewed by Yunis
4 May 2023 (Updated 13 April 2024)

Badger DAO Crypto Platform

Badger DAO is a decentralized finance (DeFi) platform that focuses on Bitcoin, founded by Chris Spadafora. The platform has raised $21 million in funding from various venture capitalists, including Polychain, ParaFi Capital, and Blockchain Capital. Initially launched on the Ethereum network, the protocol now operates on Arbitrum and Fantom chains as well.

The native token on the Badger DAO protocol is BADGER, which also serves as the governance token for the DAO. The token has a limited supply of 21 million, similar to Bitcoin, and is created on the Ethereum network with ERC20 standards. The project claims that the tokens were distributed fairly with a "fair launch," as explained in a Medium article. A fair launch is important for a token because it demonstrates proof of fairness across token holders. Equally distributed tokens are believed to create a more decentralized and democratic ecosystem. However, it should be noted that many projects claim to have a fair launch, but it is often open to discussion.

Badger is a yield aggregation protocol that searches for the best yield for users' assets in other DeFi projects' liquidity pools. The platform does not offer swap and exchange tools. The web app is simple and has an easy-to-navigate user interface. Anyone can anonymously connect to the protocol with popular wallets because the protocol supports MetaMask and WalletConnect.

The platform is VC-invested, but the project aims to achieve community-supported character. However, when we visited the project's Discord and Telegram channels, the number of members and activities on the channels were not at a considerable level. The project does not provide many details about its team, which could be a good sign of transparency. Nevertheless, the protocol's underlying codes are published and shared on the Github address, making the Badger DAO an open-source protocol.

The protocol has undergone many audits, which are displayed on the website. However, it is worth noting that many projects with solid audit reports have been attacked by hackers and suffered severe losses. In fact, Badger DAO was hacked and lost $120 million in December 2021. Every DeFi project offers a different approach to crypto finance and provides new innovative alternative tools. However, these tools and innovations need time to prove their operability while addressing security concerns. Therefore, it is vital to compare crypto platforms to learn more about them before using them.

In conclusion, Badger DAO is a DeFi platform that focuses on Bitcoin and aims to provide yield aggregation for users' assets. The project has raised a significant amount of funding from venture capitalists and has undergone many audits. However, Badger DAO suffered a major hack in December 2021, which resulted in a loss of $120 million. Despite its VC-investment, the project aims to achieve community-supported character, and the underlying codes are open-sourced. Users can anonymously connect to the protocol with popular wallets, and the web app has an easy-to-navigate user interface. Overall, comparing crypto platforms is crucial before using them, as security concerns remain a significant issue in the DeFi space.

Pros

tick $22,799,209 USD currently invested (TVL)
tick Investments in 16 coin pairs available
tick Supports protocols including Arbitrum and Ethereum

Cons

cross Small community
cross Suffered a major hack
cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Badger DAO Staking Yields

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Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
BVECVX
46.3%
CVX 46.3% APY
Ethereum
Instant Access
46.3%
CVX 46.3% APY
$1,211,885
AURABAL
31.6%
31.6% APY
Ethereum
Instant Access
31.6%
31.6% APY
$23,654
GRAVIAURA
31%
AURA 31% APY
Ethereum
Instant Access
31%
AURA 31% APY
$734,288
REMBADGER
15.7%
BADGER 15.7% APY
Ethereum
Instant Access
15.7%
BADGER 15.7% APY
$1,662,744
BADGER-WBTC
12.6%
WBTC 12.5% APY
BADGER
Ethereum
Instant Access
12.6%
WBTC 12.5% APY
BADGER
$206,818
GRAVIAURA-DIGG-WBTC
8.2%
WBTC 7.7% APY
DIGG
Ethereum
Instant Access
8.2%
WBTC 7.7% APY
DIGG
$16,006
WBTC-DIGG
3.59%
WBTC 3.59% APY
DIGG
Ethereum
Instant Access
3.59%
WBTC 3.59% APY
DIGG
$76,827
WBTC-BADGER
1.85%
WBTC 1.85% APY
BADGER
Ethereum
Instant Access
1.85%
WBTC 1.85% APY
BADGER
$628,732
TRICRYPTO2
1.7%
USDT 1.7% APY
WETH
WBTC
Ethereum
Instant Access
1.7%
USDT 1.7% APY
WETH
WBTC
$147,908
BADGER-WETH
1.45%
WETH 1.45% APY
BADGER
Arbitrum
Instant Access
1.45%
WETH 1.45% APY
BADGER
$31,387
WBTC-IBBTC
0.97%
WBTC 0.97% APY
Ethereum
Instant Access
0.97%
WBTC 0.97% APY
$131,513
WBTC-WETH
0.84%
WETH 0.84% APY
WBTC
Arbitrum
Instant Access
0.84%
WETH 0.84% APY
WBTC
$172,567
TBTC-SBTC
0.72%
TBTC 0.72% APY
Ethereum
Instant Access
0.72%
TBTC 0.72% APY
$258,134
TRICRYPTO
0.62%
USDT 0.62% APY
WETH
WBTC
Arbitrum
Instant Access
0.62%
USDT 0.62% APY
WETH
WBTC
$80,831
WBTC-WETH
0.2%
WETH 0.2% APY
WBTC
Ethereum
Instant Access
0.2%
WETH 0.2% APY
WBTC
$8,586,158
IBBTC-CRVSBTC
0.15%
0.15% APY
Ethereum
Instant Access
0.15%
0.15% APY
$748,085
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Badger DAO YouTube Reviews

Badger DAO Scams, Frauds, Hacks and Blunders

16 Dec 2021

Badger DAO Supported Currencies

Badger DAO supports over 4 currencies including Wrapped Bitcoin and Badger DAO.

Badger DAO Key Data

Company
Decentralised tick Yes
Open source tick Yes
Products
Savings accounts tick Yes
Crypto to crypto exchange cross No
Fiat to crypto exchange cross No
Pro exchange marketplace cross No
Margin trading cross No
Instantly buy crypto with fiat cross No
Futures exchange cross No
DEX aggregator tick Yes
Chain agnostic cross No
Security
Know your customer cross No
Credit check cross No
Support
24/7 support cross No
Email support cross No
Phone support cross No
Chat support cross No
Investment Strategy
Liquidity pools tick Yes
DeFi products tick Yes
Key People
Chris Spadafora
Founder

Useful Links

Badger DAO Contact Details

https://badger.com/

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