What is Badger DAO Token? How To Buy BADGER Token In India?

What is Badger DAO Token?

Bitcoin is the largest crypto in the market according to the market cap but its reach was limited to just buying or selling. Despite being a highly productive collateral crypto, there were only limited ways to collateralize BTC in DeFi. However, with the emergence of wrapped Bitcoin (WBTC) and renBTC, the opportunity to offer a bridge for Bitcoin collateral to automated yield strategies on Ethereum was seen. 

Badger DAO is a decentralized autonomous organization (DAO) that enables Bitcoin to be collateralized across decentralized finance (DeFi). It aims to generate an ecosystem that is DAO-driven by tokenized Bitcoin (WBTC) holders who participate in the governance and vote for the development of the platform. The platform also enables users to stake their tokens and earn automated returns.

Who Are the Founders of Badger DAO?

The brain behind Badger DAO is Chris Spadafora who is the founder and Operations lead of the platform. Along with him, a team of developers launched the project in September 2020. He is a long-term crypto enthusiast, an investor, and also the founder of Angelrock. He also served as an advisor to Mycred.io and Arweave.org. 

The founding team includes Ameer Rosic who handles the operations currently and has founded multiple platforms earlier including Blockgreeks.com. He is also an investor and host of Ameer Approved. Alongside, he has been an advisor for Vigox, Ledn.io, Bitbuy.ca, Digitalshovel, Decentral, Shelf, and many more.

Albert Castellana, the co-founder of Badger DAO is the current Product Advisor. He is a crypto enthusiast and an advocate since 2013. He is also the founder and CEO at Stakehound and CPO at RadixDLT. He is the founding member of the Catlan Chamber of Digital Commerce and the NEM.io Foundation and an advisor at Olyseum. 

Besides, Alberto Cevallas is the founder of Badger DAO serving as Technical Advisor. He was the founder and CTO of Fostrum. He was also the founder of Metal Technology Studio and Advisor for Bidipass and Travala.com. 

How Does Badger DAO Work?

Badger DAO primarily works as a DAO where-in the BADGER holders get the chance to vote on the proposals set forth by the members of the community. The more the holders hold the token, the more voting power they carry. Badger has integrated multiple DeFi products for the smooth functioning of the platform across various blockchains. 

SETTs

These are also known as Sett Vaults, which are the pools of tokens where-in the users lock up their tokenized Bitcoin. It also allows smart contracts to manage their holdings and generate yield, basically working as an automated DeFi aggregator. Whenever the users deposit their tokens into a SETT, they receive bTokens which can be used as collateral in various DeFi applications. 

DIGG

DIGG is decentralized elastic supply crypto that is pegged to the BTC price. The supply of DIGG is adjusted through smart contracts where-in the supply contracts or expands depending on the fluctuations of the BTC price. Despite the supply changes depending on the BTC price, the token holder’s proportion of the total supply of DIGG remains stable. It can be also used in other DeFi protocols just like other tokens and can be deposited into SETTs to generate yield for its holders.

What Makes Badger DAO Unique-Uses Cases?

• Badger DAO offers a high-yield interest earning on Bitcoin holdings which is painless and profitable 
• By using BTC as collateral, the platform solves the liquidity problem within the DeFi space
• The platform is built on the Ethereum network but has been ported to other networks like Polygon and Arbitrum
• The platform offers a high level of participation to its users aiming to improve the protocol. The DAO also intends to develop, finance, and commercialize new projects too. 

Badger DAO Price Analysis

Source: Tradingview

• The BADGER price is trading within a rising expanding channel which is usually considered bearish
• The price is currently away from the resistance and the support of the channel which indicates the depleted volatility due to dropped volume
• However, the Average Directional Index (ADX) has displayed a bullish divergence but RSI appears to head towards the south
• Hence, the price may remain consolidated for a while before rising slightly towards the interim resistance at $3.589. 
• The bears may again drag the price lower but it may rather offer a catapult action to rise the price higher beyond $4

How to Buy Badger DAO in India?

If you want to buy Badger DAO in India, just follow the below-mentioned steps,

• Download the CoinDCX App on your Smartphone 
• Enter the details required for registration 
• Complete KYC
• After verification, fund your wallet and buy BADGER