Badger DAO Biweekly Newsletter #19
BadgerDAO x Chainlink, Badger x DefiDollar, DIGG Rebase Mining Launch, Open Defi Hackathon + Pooltogether Bug Bounty
Hey there, Badgers
The Badgers made incredible progress over the last two weeks, and are happy to share it with you. First of all, we want to welcome the new ambassadors (Discord handles listed):
Thank you for supporting community engagement, DeFi knowledge, and governance participation.
Badger DAO also removed the cap and guest list for the first single WBTC vault powered by Yearn and upgraded the Badger Bridge to support direct deposit of native BTC into the bvyWBTC vault. Furthermore, Badgers Never Hide is moving from Clubhouse to Twitter Spaces, and the bounty billboard is live again. Just join our Discord and feel free to contribute.
Lastly, the Badgers crossed 6000 WBTC in the new vault, making it the largest vault Badger has ever had.
That’s it. For now, let's digg into what exactly has been going on with the Badger DAO during the last week of April and the first week of May 2021. 🦡
Announcing Integration with Chainlink Price Feed to Secure DIGG's Rebasing Function
Utilizing Chainlink's industry-leading decentralized oracle solution, BadgerDAO can provide holders with strong guarantees that each DIGG token will accurately track the price of Bitcoin, even during extreme market volatility and in the midst of data manipulation attacks. A custom Chainlink Price Feed has been launched for the DIGG/BTC trading pair on the Ethereum Mainnet. It supplies the DIGG protocol with an accurate, up-to-date, and tamper-proof exchange rate for DIGG/BTC, supporting the daily DIGG token rebase events. Badger DAO found that Chainlink oracles provided the maximum amount of market coverage and tamper-resistance, allowing us to scale up the security and utility of the DIGG token.
Check out the detailed blog post.
The Badger Open DeFi Hackathon + PoolTogether Bounty is Now Live
Up to 1000 $BADGER will be allocated as prizing. Hackers should focus on creating projects that accelerate Bitcoin usage across blockchains and anything that would make DeFi more accessible, engaging, and fun! BadgerDAO is keeping things open-ended, so anything Bitcoin in DeFi, Badger, or DIGG related can be submitted. To be considered for the special 5000 $DAI bounty, hackers are challenged with integrating Badger as a yield source on PoolTogether. Badger deposited into the pool is to be wrapped into bBadger - and the yield acquired from bBadger staking rewards should be added to the prize pool.
These are the judging criteria:
Is the application useful and/or interesting?
Does it align with Badgers’ core values?
The complexity of the application, protocol, or project
Design, Usability, & Innovation
Potential to evolve
More information here.
Badger x DefiDollar: Launching ibBTC Phase 1 of the Guarded Launch
Interest Bearing Bitcoin is a tokenized Bitcoin that is earning interest by simply holding it. It is backed by a basket of yield-bearing Bitcoin tokens. The average interest across these tokens equals the interest on ibBTC. Furthermore, ibBTC is modular. This means non-Badger vault tokens can be included in this basket.
In the past, once you deposited in Badger, the position is mostly illiquid. With ibBTC you can have positions in multiple vaults and use either or all to mint ibBTC. Interest Bearing Bitcoin is a standard ERC20 token that can be integrated into any DeFi protocol or centralized platform. This enables users to unlock that liquidity and use ibBTC for a variety of strategies, e.g. farming, leverage, lending, borrowing, and more. Overall, this means a major increase in capital efficiency.
Read this blog post for an in-depth guide!
Badger Improvement Proposals
What’s Ahead for Badger DAO
Boost from 1-3x your APY/rewards
Increase your boost by staking Badger and DIGG or holding Badger NFTs
DCA Vault on 0xPolygon to help you get Bitcoin with your USDC
DIGG Rebase Mining Launch