BadgerDAO
BadgerDAO is a decentralized autonomous organization focused on bringing Bitcoin to decentralized finance. Badger aims to build the products and infrastructure necessary to accelerate Bitcoin as collateral across other blockchains, fostering its integration into various DeFi platforms. The platform is meant to be an ecosystem DAO where projects and people from across DeFi can come together to collaborate and build the products the space needs. It creates a developer-friendly environment where they build the products they want, have the appropriate incentives to do so, and maintain shared ownership.
ABOUT BADGERDAO
BadgerDAO is a decentralized autonomous organization that enables Bitcoin to be used as a collateral across decentralized finance applications.
Badger enables the use of Bitcoin as collateral across different blockchains, fostering its integration into various DeFi platforms.
The BADGER token powers governance and utility across DeFi protocols like Curve, Balancer, and Convex, driving community-led growth in the Bitcoin DeFi ecosystem.
PRODUCTS & OFFERINGS
SETT.
Sett is an automated DeFi aggregator focused on tokenized BTC assets. Inspired by and based on the Yearn.Finance vaults, users deposit assets to earn a yield, our smart contracts then put those assets to work executing a variety of strategies across DeFi protocols.
DIGG.
Digg is a non-custodial synthetic Bitcoin on Ethereum. It’s an elastic supply cryptocurrency that’s pegged to the price of Bitcoin. Every day the supply is automatically adjusted across all wallets based on the USD value of $DIGG vs $BTC.
BADGERDAO HACK
The BadgerDAO hack was one of the most unique in a string of DeFi hacks that have taken place in 2021 and 2022.
Over $120 Million of user funds were siphoned out of the DAO due to compromised API keys and a malicious exploit in the Cloudflare infrastructure.
Badger has since patched the Cloudflare exploit, updated Cloudfare's account password and deleted or freshened API keys where possible.
The platform also hired cybersecurity firm Mandiant and blockchain analysis firm Chainalysis to investigate the exploit.