ibBTC and bBadger Now Accepted as Collateral on Ruler Protocol

Adding more utility to ibBTC

Until now…

BadgerDAO is excited to announce that Ruler Protocol is now accepting ibBTC and bBadger as collateral for borrowing and lending stablecoins along with farming to earn Ruler and Badger tokens. You will never be liquidated and your interest rate is fixed at the time of your transaction. In order to collect your collateral back you just need to repay prior to the expiry date. This is the first of many steps towards adding increased utility to ibBTC across DeFi, allowing users to lend, borrow, farm, and provide liquidity cross-chain.

👉 Use ibBTC or bBadger on Ruler

About Ruler

Learn more about Ruler Protocol: https://docs.rulerprotocol.com/

FAQs: https://docs.rulerprotocol.com/user-guide/how-it-works-video-and-faq

How to use ibBTC and bBADGER on Ruler Protocol

I. Borrowing

Head over to the Lite UI and click borrow.

Note: When performing this action you will receive rrTokens. The rrToken represents the amount of DAI you have to repay prior to the expiry date listed on the UI. If you do not, you will forfeit your collateral. For example, if you have 100 rrTokens you must repay 100 DAI.

II. Repaying

Head over to the Lite UI and click repay.

III. Lending

Head over to the Lite UI and click lend.

IV. Collecting

Head over to the Lite UI and click collect.

V. Providing Liquidity and Farming

If you already have stablecoins OR rcTokens you can head over to the liquidity pool and deposit them for the LP token, which you would then stake in the Ruler Protocol farm.

Obtaining rcTokens to provide liquidity and farm

You can choose to use ibBTC or bBADGER or unselect to use DAI. When using DAI you are minting DAI 1:1 for rcToken. When using ibBTC/bBADGER you are minting rcToken according to the mint ratio.

When minting with collateral (ibBTC/bBADGER) you will be receiving both rr and rcTokens. You can then follow the steps above for Providing Liquidity and Farming

In order to get your collateral back (ibBTC/bBADGER), you will need to return DAI or rcTokens equal to the amount of rrTokens you have received using the steps of Repaying.

How Do I Learn More?

ℹ️ Visit Badger Website

➡️ Check Out Our Github

➡️ Join Our Community Discord

➡️ Follow Us on Twitter

➡️ Connect on Telegram

*Badger tokens are a means by which users may utilize and govern the protocol. Badger DAO does not recommend purchasing Badger for speculative investment purposes. Badger tokens may lose value or have no value and may have no market. Note that if applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the maximum extent permitted by applicable law.*

DAO dedicated to building products to bring BTC to DeFi.