This is a guide on how to buy the BADGER token from Badger DAO. Badger DAO is a very interesting community driven Decentralized Finance (DeFi) project with the aim of bringing Bitcoin into DeFi.
Bitcoin of course is the OG of crypto. However, Bitcoin is also slow to move when it comes to making changes on-chain. “Smart Contracts on Bitcoin” is a meme we have been hearing for over 5 years now, and more recently, “DeFi on Bitcoin” has become a meme with some Bitcoin maximalists who don’t understand anything other than “number go up”.
For good reason perhaps, Bitcoin should remain conservative. The way forward then is to bring Bitcoin to the DeFi ecosystem instead of the other way round. This is where Badger DAO comes in, with its governance token BADGER.
What is BADGER?
BADGER is the native governance token of Badger DAO. The goal of Badger DAO is to build tools that bring Bitcoin into DeFi and Ethereum. Badger is not a single product – instead, it has multiple products and tokens.
The first product is the much awaited DIGG from Badger. DIGG is an elastic supply token similar to Ampleforth (AMPL). It tracks the price of BTC by expanding or contracting the token supply with a 24 hour rebase period. DIGG can be earned via farming, which has become a great way to get wide distribution of token these days in the DeFi world.
Other products might follow suite depending on the success of existing products and the community that has gathered around Badger.
How to Buy BADGER
Step-1: Go to 1inch (a DeFi aggregator) and check the best price of BADGER for ETH (or any other ERC20 token).
Step-1b (optional): Buy ETH with your BTC or local fiat at Coinbase or Binance or another local exchange.
Step-2: Connect your MetaMask or another Web3 wallet and execute the transaction.
Step-3: Just wait for the above transaction to confirm and you’ll have the BADGER in your Web3 wallet.
Remember to use an aggregator like BADGER so you get the best price, instead of going to a single exchange like Uniswap of Sushiswap. This is especially true if you want to convert a non-ETH token into BADGER.
For example, here is a path shown by 1inch to buy BADGER with YFI instead of ETH. As you can see, 1inch will automatically split the order and then route it to the best DeFi exchange for you to get the best price execution.
(the PMM1 in the above is a private market maker. These contracts source liquidity from centralized exchanges like Binance in addition to DeFi exchanges).
If you are feeling especially bullish (or bearish) on Badger, you can also buy BADGER futures on FTX. The advantage is, you can go long (or short) with leverage of up to 100x so you can make big bets on the direction of this token. If you want to go this route, you want to buy the BADGER-PERP token, which is a perpetual futures contract.