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25 January 2021

Bitcoin-focused DeFi protocol garners $30m in deposits in first day after $100 airdrop to thousands | CryptoSlate

Bitcoin-focused DeFi protocol garners $30m in deposits in first day after $100 airdrop to thousands | CryptoSlate


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The Ethereum-based project was announced months ago by a small public team of around four with the premise of distributing a token called BADGER to users who have interacted with tokenized Bitcoin, such as WBTC or renBTC, or have contributed to DeFi by participating in governance or contributed to GitCoin.

Due to the vast array of users encompassed in this airdrop, the project gained a lot of popularity on Twitter amongst DeFi natives and tokenized Bitcoin holders.

Thus far, Badger does not have a product, except for five staking pools that allow users to earn BADGER for staking BADGER, BADGER-WBTC Uniswap liquidity provider shares, or tokenized Bitcoin Curve Finance liquidity provider shares.

DeFi analyst “CryptoYield” noted that Badger and other projects that can bring Bitcoin from the “original chain” to Ethereum via tokenized products is how DeFi can “50x over [the] next 12 months.”.

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