Badgers build with their hands. Sushi is meant to be eaten with the hands. Badgers love sushi. So much so, that they have teamed up with SushiSwap to spread Bitcoin DeFi across both communities. As a result, Badgers will be accumulating governance tokens from both DAOs.
The Badger DAO has launch 2 new Sett vaults where you can earn $Badger and $Sushi:
We believe in the long term viability of Sushi which is why we stake it to receive protocol fees from Sushiswap rather than sell it for the underlying collateral. Those users that align with that ethos should see value in the service our vaults provide.
The process will involve staking tokens (either ETH/wBTC or Badger/wBTC) for LP tokens on SushiSwap, and then depositing & staking those LP tokens in the Badger Setts. Any $Sushi earned will be automatically staked (for xSUSHI) and compounded for more $Sushi which claimable periodically. And don’t forget, you can stake your $Badger earnings in the $Badger set and earn rewards on your rewards. 🍯
Here’s how the Badger<>wBTC Sushi Sett works: on SushiSwap, deposit equal amounts of assets into the $Badger and $wBTC liquidity pool and you will receive Sushiswap LP tokens. When you deposit and stake in the respective Badger Sett, half your earnings in $Badger will get re-supplied into your LP token position. Additionally, you will be earning $Sushi which gets staked into xSushi, generating protocol fees.
The goal of these new Setts is giving LP’s flexibility and variety in how they earn returns on their $BTC assets. As always, maximizing the honey earned by the Badgers is a large portion of the Badger DAO’s mission.
The Badger DAO is just one of many DAOs that are ecosystem-forward. It it upon these DeFi DAOs to work together and multiply the value they add, share ideas, and build incredible things for Bitcoin-based DeFi.