Some DeFi projects will trend even when the Cryptoverse is bleeding. Some project will keep evolving even when the bear market is chewing the investors confidence in cryptocurrencies. This is the story of the Wise Owl who met the Powerful Badger! This epic encounter will live happily ever after as Index Coop will include BadgerDAO in DPI from August.
The DeFi Pulse Index ($DPI) is the capitalization-weighted index spanning the top 14 Ethereum based DeFi tokens, excluding wrapped and synthetic assets or tokenized derivatives. The Index Coop vision was to create a product that will be attractive for both crypto veterans and those with low crypto knowledge. The $DPI token will rebalance based on supply and price data. The allocation weighting will not get higher than 25% per token for each rebalancing.
The DeFI Pulse Index reached the All-Time High in May, at 656.49 USD per token. The index value downfall was linked to the long bear run and made $DPI lose more than half of the value. However, at $277 per DPI, the value is close to 400% gain since November 2020.
In the July allocation, $UNI has the largest share in the DPI Index, set at 23.11% on the 23rd of July. AAVE is following, with 20.9% of the total value. Compound (COMP) and Maker (MKR) are almost in equal share, with 12.98% and 12.88% allocation. On the other side of the spectrum, with an allocation under 1% are CREAM, Harvest Finance (FARM) and Meta (MTA).
Badger's addition to DPI is another sign of power, after UMA joined them for Phase 2 of Rebase Mining. The Rebase Mining was planned as a one time event and unfortunately failed to unlock any rewards in the 30 days period. In the preparation of the event, the DIGG had two weeks of positive rebases. After the launch, it failed to overcome the market crash. UMA joined BadgerDAO for the Rebase Mining perpetuity, starting with 1st of July. The BadgerDAO initial strategy remains unchanged, adding UMA's KPI options to harness incentives.
UMA's KPI will ensure positive outcomes regardless the market conditions and crypto volatility. The rebase mining system reward distribution requires five or more positive rebases during the 30 days to unlock. Each rebase that occurs afterwards the required five, will increases the percentage shared. The Phase II started on the 1st of July, and will refresh month over month as the remaining funds from the pool will be allocated to the next mining period.
Badger DAO is an ecosystem where projects and crypto-enthusiasts in the DeFi world can create partnerships and build the much needed products and platforms required for DeFi to thrive. The shared ownership in the DAO will allow builders to have aligned incentives while decentralized governance can ensure those incentives remain fair to all parties. The DAO goal is to build the products and infrastructure necessary to accelerate Bitcoin as collateral across other blockchains by making "crypto-scientists" compete less and collaborate more. This concept came from Chris Spadafora's beautiful mind. He is the Nick Kyrgios of crypto, the Badger "Godfather" and the operations lead for the project.
Badger was born as a DAO, and every decision included a vote. Everything was created to be fair and involve everyone. Badger builders, the community created products, the operations team, the $BADGER holders are working in a sublime synergy. The $BADGER holders can create new proposals, which have to pass three stages of voting before approval. When approved, the proposal will move to the operations team, which will collaborate with the community to build, fund and market the new idea. SETT was the first product created by Badger DAO, an automated DeFi aggregator focused on tokenized BTC assets and is the only way for people to earn $Badger.
The Badger Builders are ready to work with anyone wanting collaborations, giving the opportunity to build what’s needed. This need is leaded by what the community and the world, not by the needs of developers or blockchain company.
The $BADGER, the governance token, has no monetary value, however sits nicely over $11 per unit. Before it's launch, all smart contracts and systems were audited by Zokyo and the entire community was informed in advance about the launch details. The community had control and decisions on how $BADGER was distributed and no capital was raised. All this effort was made to maintain the transparency and community control.
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