BadgerDAO is proud to formally announce an integration with RenVM. This new product, manifested as the “BTC Bridge” tab in the UI, will give decentralized finance (DeFi) users direct access to bringing their native BTC onto the Badger v2 App.
Ren is an open protocol that enables the permissionless transfer of value between any blockchain. This integration with RenVM will allow Badger users the following benefits:
- Using $BTC to mint $renBTC or $wBTC onto the Badger App, furthering Badger’s objective to be the one-stop-shop for all things Bitcoin
- Improved user experience with fewer steps to go from native Bitcoin to a Sett Vault position and fewer steps from the Sett Vault position back to native Bitcoin.
TLDR: the barrier to entry for new DeFi users and the level of friction has fewer steps, and earning yield on your $BTC has never been easier!
Incentive System— The Badger Cetedel Program
We’re excited to also announce that the BTC Bridge (Badger Bridge) will be the inaugural product for the Badger Cetedel Program. As the gateway for BTC to transfer to other chains, the Badger Bridge, powered by RenVM, directly carries out the mission of the Badger Cetedel Program and furthers the primary mandate of BadgerDAO. In the coming days, there will be a BIP that goes over the analysis and recommendations for fueling the adoption of this powerful product!
One Stop Shop for All Things BTC
The RenVM integration additionally develops the foundation upon which other future Badger products can be built. Just as v2 furthered Badger App’s capacity for facilitating the $DIGG launch, RenVM will further the development of additional Badger products. Continuous innovations in the DeFi space that make it easier to earn return on your Bitcoin will further Badger’s objective as the one stop shop for all things Bitcoin. One feature that is top of mind to enhance the bridge is to eventually add support to go directly from bridging your BTC to Zapping it into any Sett position. The Badgers are also exploring other potential lego blocks for the RenVM integration, so please stay tuned!
RenVM is an open protocol providing access to inter-blockchain liquidity for all decentralized applications. It is, so far, the most battle-tested DeFi project designed to bring cross-chain assets to the Ethereum ecosystem. Projects with RenVM integration offer developers increased flexibility and compatibility with other products in the market while providing a better user experience.
Improved efficiency, reduced gas costs, and faster, more direct rewards-earning are just some of the benefits users will experience from the RenVM integration, as it continues to evolve. Be on the look out for additional functionality as the Badgers continue to build upon this foundational product.
Ren is an open protocol that enables the movement of value between blockchains.
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