The cryptocurrency market has seen unprecedented gains recently. Badger DAO is just one example of the massive price growth possible for projects solving unique problems.
Decentralized finance (DeFi) platform adoption is blooming. The entire DeFi space has grown exponentially in the last year, up from less than $1 billion to almost $35 billion in total locked value (TVL). The top DeFi cryptocurrencies by market cap in particular are growing rapidly. Of these, Badger DAO, a new platform, is seeing huge gains.
In the last 30 days, BADGER, the native token of the Badger DAO economy, has grown almost 700%. According to CoinGecko, the token increased by 465% in the last two weeks and over 125% in the previous week. As the eighth largest DeFi application by TVL and holding over $1.5 billion, the token’s considerable growth in price ranks the project first out of the top-ten DeFi platforms.
Bringing Bitcoin to DeFi
Badger DAO is a platform solving a unique problem. The platform enables users to bring bitcoin to DeFi applications. Previous attempts, such as wrapping Bitcoin onto Ethereum as a synthetic WBTC token, worked well. Badger DAO, though, takes it to another level. The project is building out the actual infrastructure and products necessary to integrate BTC into decentralized finance fully.
As a decentralized autonomous organization (DAO), there is no single point of control or decision making power on the platform. Instead, those responsibilities are sourced from the community as a whole. Shared ownership and say over the functionality of the network embodies the ethos of decentralization, an essential factor for all DeFi projects.
What Does the BADGER Token do?
As the native cryptocurrency of Badger DAO, BADGER is the lifeblood of the ecosystem. The token gives users governance rights over the platform, allowing them to contribute to the management process. It also provides users with a unique way to earn passive income. The platform redistributes a portion of the fees generated on the protocol back to token owners.
Moreover, with Badger DAO, all the value of the Bitcoin network is utilizable on DeFi. This is a major selling point for the platform. With Bitcoin viewed as the most reliable store of value within cryptocurrency, Badger DAO helps users unlock the ecosystem’s full value.
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