Badger Finance

The honey badger will seek out and relentlessly attack bee hives, welcoming hundreds of bee stings while they gorge on honey.

Well, dear reader, it’s time to gorge on yield.

That’s right. After all of these announcements, partnerships, governance discussions, and all the important feedback you have been giving us, it is time to launch our Setts along with the Badger liquidity mining program.

A Sett is a tokenized bitcoin vault, in the vein of Yearn Finance, where you can deposit assets and we’ll execute automated strategies across DeFi protocols to produce yield.

During the next 8 week liquidity mining event, users of our Sett vaults will also earn our governance token $BADGER on top of the yield our strategies produce.

Here are vaults that will be available at launch:

  • renBTC Curve Pool LP
  • sBTC Curve Pool LP
  • tBTC Curve Pool LP
  • $Badger Pool
  • $Badger<> WBTC Uniswap LP
  • Harvest: renBTC Curve Pool LP

We run a variety of different strategies across these 6 vaults that can be reviewed here.

How to Use Sett Vault App

APP.BADGER.FINANCE

This is your account hub when using the Badger Sett vaults. To get started, connect your wallet in the top right. Here you will see your total portfolio value across the Setts you have deposited in, the total value deposited across all users into our app and any available rewards you can claim.

As you accumulate $BADGER or any other tokens like $FARM they will appear in your rewards dashboard. You can simply click the Claim all rewards button to harvest them all in one transaction.

We have a unique and effective reward distribution mechanism that we call the Badger Tree which reduces the costs of claiming rewards compared to traditional staking contracts by up to 90%. You can learn more here.

If you need help understanding how to deposit Bitcoin or tokenized Bitcoin (wbtc, renbtc, tbtc or sbtc) into Curve.fi, please reference this great explainer from Defidad.

To access Sett Vaults, click Sett on the top header. Here you will see the available Setts that you can deposit in or withdraw from, the current APY % on each and the total amount deposited in that Sett. You’ll also see our Featured Sett with an image in the top right which usually is our most recent addition or highest yield producing vault.

To deposit or withdraw, click on the appropriate Sett. A slider will appear on the right that shows the total amount available in your wallet to deposit or the total amount already deposited that’s available for withdrawal. You can take either of these actions at anytime.

To complete the action, fill in the amount you would like to execute, click the corresponding deposit or withdraw and verify the transaction in your wallet. Once the transaction is complete, the app will update either with a new wallet balance or deposited balance.

On the top of the slider you‘ll see a breakdown of the APY, including how much is coming from the underlying yield produced and how much from the $BADGER rewards. On the bottom there will be strategy and fee buttons that will bring you to our documentation that outlines the details for both of those on that vault.

When you deposit in a Sett you will receive a “wrapped Sett token” that represents your position in vault. Wrapped tokens have an “s” in front of them (ssbtcCRV, srenbtcCRV, sbadger etc.) To begin earning $BADGER on top of the yield you’re already earning you must stake that wrapped token in the corresponding pool.

To do this, click Stake on the top header. Find and click on the pool that corresponds with the Sett you deposited in. In the slider you will see the wrapped token in your wallet (in this case ssbtcCRV) and click deposit. Once you verify the transaction in your wallet you will now see that amount under the deposited section on the slider (in the example above 279.7741).

To unstake your wrapped Sett tokens, simply click Withdraw and verify the transaction. At this point you will no longer be earning $BADGER.

In an attempt to reward early stakers and those that stake longer, we’ve implemented a rewards multiplier that increases linearly with time. The amount of rewards they receive will increase according to a multiplier (1–3x) based on the length the assets are staked.

Once you stake your wrapped sett tokens, the timer starts. If you unstake that position, you lose your reward multiplier. You can unstake partially and the remaining assets will maintain the multiplier you earned. If you add new assets, those assets won’t assume the multiplier earned. Only the original assets.

You can claim your $BADGER at any time without having to unstake from the pool or losing your reward multiplier. Go to your Dashboard and you will see the accumulated $BADGER under rewards. You can click claim all rewards underneath the rewards section or the button next to your wallet address on the top right of the screen. Verify the transaction and wait for it to complete. Due to the $BADGER tree mechanics mentioned above, your rewards will update every 2 hours.

During the 8-week liquidity mining event anyone that deposits in the Sett or Super Sett vaults will incur the fees below. These don’t apply to the Badger or Badger <>wBTC UNI Setts.

Our intention is to remove the withdrawal fee after the LM event and potentially waive the fee for any Sett users that deposit for 4+ weeks.

So I’m earning $BADGER- What can I do with them?

  1. GOVERNANCE — The main purpose of $BADGER is to be used to govern our entire ecosystem including Sett vaults + other products, treasury and operations. This puts token holders in control of the DAO with vested interest to make it sustainable and successful.
  2. STAKE — Users can stake their $BADGER in the Badger Sett vault to earn additional $BADGER during the 8 week liquidity event and eventually shared fees that come from Setts.
  3. Liquidity- Users can add liquidity to the $BADGER<>wBTC Uniswap pool and stake those in our Sett vault to earn yield and $BADGER.
  4. Mint MEME NFTs —Next week users will be able to stake their $BADGER on Dontbuymeme.com to mint exclusive Badger + MEME NFT’s and participate in the Honey Badger Pot. Where the first person to collect all 5 NFT’s will be able to claim a pot of $BADGER rewards.
  5. HODL —Starting soon early Badger holders will have an opportunity to earn from the community $BADGER rewards pool. The ability to claim will be dependant on the amount of onchain actions they take within our ecosystem.

We’ve been growing our following at a phenomenal pace, and we are super excited to finally deliver everything the Badger community has been anticipating. And it’s just the beginning. 🦡

Get Involved

Do you want to develop new strategies for our Sett vaults?

We have 2 major incentives for those that do so.

  • Earn up to 50% of the performance fee (20%) revenue generated from the strategies you create.
  • Earn from the developer mining pool (15% of the supply = 3.15M $BADGER) based on how much revenue your strategy(s) bring to the DAO vs total revenue.

Want to create a cool product with Badger like Sett vaults?

Similar to strategy incentives above, we encourage developers to collaborate with the DAO to build products and infrastructure focused on tokenized Bitcoin. Badger can help fund, build, bootstrap users through our community and provide $BADGER as incentives to users.

Developers that build with our DAO will earn a % of revenue from that product forever + $BADGER rewards from the developer mining pool. If you’re interested, join our Discord chat.

To Learn More About Badger

*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.