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Often people ask me what’s the utility of $BADGER? It’s just for voting?
Well yes it’s your voting right in our ecosystem but could be so much more.
The community is pushing new use cases for it everyday which became very clear in the recent BIP proposals.
Thread/
Well yes it’s your voting right in our ecosystem but could be so much more.
The community is pushing new use cases for it everyday which became very clear in the recent BIP proposals.
Thread/
1/
What can you do with Badger today?
Participate in Governance
Stake to earn yield
HODL it
Trade it
Good start but nowhere close to enough to build strong hands and long term participants.
What can you do with Badger today?
Participate in Governance
Stake to earn yield
HODL it
Trade it
Good start but nowhere close to enough to build strong hands and long term participants.
2/
90% of the circulating supply is staked in the Badger only vault
Why? Earns yield + $DIGG coming.
The problem is that the current staking mechanics don’t allow for composability since there is nothing that represents your staked position.
90% of the circulating supply is staked in the Badger only vault
Why? Earns yield + $DIGG coming.
The problem is that the current staking mechanics don’t allow for composability since there is nothing that represents your staked position.
3/
This is the key. How to unlock that utility.
Today we say deposit in vault to get bBadger (your vault share) and stake that token in the geyser to earn a multiplier.
What if we kept it as bBadger, removed the staking part and created use cases for bBadger?
This is the key. How to unlock that utility.
Today we say deposit in vault to get bBadger (your vault share) and stake that token in the geyser to earn a multiplier.
What if we kept it as bBadger, removed the staking part and created use cases for bBadger?
4/
This is what gets me so excited around the recent BIP proposals.
https://forum.badger.finance/t/bip-24-badger-boost-multiplier-replacement/1914/59
They are focused on making bBadger (and bDIGG
) useful assets.
Here’s how...
This is what gets me so excited around the recent BIP proposals.
https://forum.badger.finance/t/bip-24-badger-boost-multiplier-replacement/1914/59
They are focused on making bBadger (and bDIGG
) useful assets. Here’s how...
5/
Firstly, replace the existing multiplier which removes the need to stake.
Now users will have a composable version of Badger that’s still in the vaults earning a return.
bBadger
Firstly, replace the existing multiplier which removes the need to stake.
Now users will have a composable version of Badger that’s still in the vaults earning a return.
bBadger
6/
2nd, make bBadger vault 100% auto compounding with realizing gains at withdrawal.
Creates stickiness for users, removes complexity of reward claiming, through scarcity and reduced farm selling it drives value for Badger.
2nd, make bBadger vault 100% auto compounding with realizing gains at withdrawal.
Creates stickiness for users, removes complexity of reward claiming, through scarcity and reduced farm selling it drives value for Badger.
7/
Develop a shared fee distribution to bBadger holders from all products of the DAO.
Last 30 days that’s been $1.3M in profit from 1 product.
Annualized and 50% distributed to holders, that’s a 30% APY.
4 more revenue generating products are launching within 2 months!
Develop a shared fee distribution to bBadger holders from all products of the DAO.
Last 30 days that’s been $1.3M in profit from 1 product.
Annualized and 50% distributed to holders, that’s a 30% APY.
4 more revenue generating products are launching within 2 months!
8/
Proposed in BIP 24 was distributing emissions in bBadger instead of Badger.
This is important for creating skin in the game for users along w/ increasing vault conversion.
Users receiving value in the vault are less likely to leave quickly compared to receiving Badger.
Proposed in BIP 24 was distributing emissions in bBadger instead of Badger.
This is important for creating skin in the game for users along w/ increasing vault conversion.
Users receiving value in the vault are less likely to leave quickly compared to receiving Badger.
9/
Ok I have bBadger and earning some stuff cool but what can I do with it?
This is where it really evolves.
The Badger community should focus on creating utility in our app and in other protocols.
Ok I have bBadger and earning some stuff cool but what can I do with it?
This is where it really evolves.
The Badger community should focus on creating utility in our app and in other protocols.
10/
In our ecosystem we can get really creative.
Use it as collateral to borrow stablecoins is already in the works.
Give holders certain “exclusive rights” in our products (Higher APY, early access etc.) would be really cool.
Do more collabs like our @DontBuyMe honey pot.
In our ecosystem we can get really creative.
Use it as collateral to borrow stablecoins is already in the works.
Give holders certain “exclusive rights” in our products (Higher APY, early access etc.) would be really cool.
Do more collabs like our @DontBuyMe honey pot.
11/
In other ecosystems it needs to be an asset that users can borrow and lend against in all major money market protocols.
This is a process but I’m confident bBadger can get there.
In other ecosystems it needs to be an asset that users can borrow and lend against in all major money market protocols.
This is a process but I’m confident bBadger can get there.
12/
Now we created market scarcity for Badger, have a yield bearing version of it w/bBadger and there are a bunch of things you could use it for to continue participating in DeFi.
Most importantly through governance it allows users to have a real say in the direction of Badger
Now we created market scarcity for Badger, have a yield bearing version of it w/bBadger and there are a bunch of things you could use it for to continue participating in DeFi.
Most importantly through governance it allows users to have a real say in the direction of Badger
13/
The community is just starting this journey but it’s path looks very promising and I’m excited to help accelerate in this direction.
$bBadger
The community is just starting this journey but it’s path looks very promising and I’m excited to help accelerate in this direction.
$bBadger
