BadgerDAO Partners with Fireblocks to Bring Institutional Bitcoin to DeFi
Badger has one mission; bring BTC to DeFi
Today the total value locked in DeFi has reached $52B, but many would argue that institutional capital hasn’t arrived yet. Interacting with DeFi brings a variety of regulatory and operational challenges that make it difficult for institutions to participate. On the other hand we’ve seen a massive influx of interest in Bitcoin this year from banks, corporations, funds and a variety of other financial institutions. With the right on-ramps, institutional investors could put that Bitcoin to work and usher in the next big wave of capital into DeFi.
We’re excited to announce a strategic partnership between Fireblocks and BadgerDAO to enable Fireblocks 200+ institutional clients to securely hold Badger assets on their platform and put their Bitcoin to work through the Badger protocol- all while adhering to their strict security, operational and regulatory requirements.
Who is Fireblocks?
Fireblocks is an enterprise-grade platform that delivers a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks currently enables 200+ financial institutions to securely scale their digital asset operations, and has secured the transfer of over $400B in digital assets to date. With the completion of their recent $133M Series C funding round, Fireblocks is helping institutions like BNY Mellon, Galaxy Digital, Genesis, JST Capital, Revolut, Parafi Capital and Coinbase Pro launch digital asset products and services without compromising on security or compliance.
Integrating Fireblocks with Badger Sett vaults
Fireblocks has integrated the Badger app and in turn our Sett vaults into their Fireblocks DeFi API and browser extension products. This enables their users to deposit tokenized bitcoin directly into any of our automated yield producing vaults to generate between 10–197% APY.
Through the Fireblock DeFi app users have;
Today there is over $1B worth of tokenized Bitcoin being put to work on Badger vaults through our automated yield aggregation strategies. With multiple security audits and thousands of users, our smart contracts are ready to onboard the next wave of institutional Bitcoin holders to DeFi!
Here’s an example of Fireblocks clients utilizing their DeFi browser extension to interact with Uniswap securely. The experience would be similar with Badger.
All native Badger assets are now available on Fireblocks (Badger, bBadger and bDIGG)
Institutional clients can now securely hold their Badger tokens and interest-bearing Badger assets, bBadger and bDIGG, on the Fireblocks platform. When users stake their Badger or DIGG in the Sett vaults they receive a token that represents their share of the vault (bBadger and bDIGG) which is auto-compounding their interest back into their position. This makes it significantly easier for institutional investors to join 30,000 other Badgers in getting exposure to the power of DeFi by simply holding these assets.
Users could acquire these assets through the Fireblocks DeFi app or browser extension on an AMM like Uniswap. As of writing this article, bDIGG and bBadger generate 80% and 13.49% ROI respectively.