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.

Badger DAO Key Data

Company

Decentralised	Yes
Open source	Yes

Products

Savings accounts	Yes
Crypto to crypto exchange	No
Fiat to crypto exchange	No
Pro exchange marketplace	No
Margin trading	No
Instantly buy crypto with fiat	No
Futures exchange	No
DEX aggregator	Yes
Chain agnostic	No

Security

Know your customer	No
Credit check	No

Support

24/7 support	No
Email support	No
Phone support	No
Chat support	No

Investment Strategy

Liquidity pools	Yes
DeFi products	Yes

Key People

Chris Spadafora

Founder

Useful Links

Badger DAO Contact Details