At BadgerDAO, we strongly believe in aligning incentives for all Badgers, small and large, — near and far. After reviewing the different incentive systems we’ve designed and those across the DeFi ecosystem, we realized that there’s a tremendous gap…… — one that, if filled, could transform the space forever. With this, the core team is excited to announce BadgerDAO’s quantified goal and our latest incentive system: The Badger Cetedel Program. Bringing $500B of Bitcoin to DeFi.
As a refresher, our existing incentive systems are as follows:
- With the Liquidity Mining Event, we bootstrapped our products’ users and vaults’ liquidity pools by rewarding our Sett Badgers (users). https://badgerdao.medium.com/badger-dao-liquidity-mining-launch-b2415301bd31
- With the Developer Mining Program, we continue to attract and unite some of the best talent in the space for Builders to develop Bitcoin utility by rewarding our Sett Builders (developers). https://badgerdao.medium.com/badger-developer-program-3bf0cb2cc5f1
Introducing Badger Cetedel
Cete (n): A group of badgers
Citadel (n): a fortress, typically on high ground, protecting or dominating a city
Cetedel (n): The promised land for badgers around the world
With the Badger Cetedel Program, we double down on BadgerDAO’s mission to accelerate Bitcoin products and infrastructure on DeFi by accelerating the rate of Bitcoin on DeFi itself. There were a few incentive events in DeFi for wBTC- or renBTC- related products, but we were unable to identify any ecosystem-wide incentive program specifically designed with the direct purpose to bring additional wBTC and renBTC onto DeFi. The Badger Cetedel Program represents BadgerDAO’s dedicated and directed incentive program for Badgers to bring Bitcoin to other chains (primarily Ethereum in the short -term).
Slightly different from the Liquidity Mining Event and Developer Mining Program, we will not be allocating a specific number of $BADGER or $DIGG tokens for this program. Instead, incentive structures such as volume-based rewards and token allocations for rewards pools will be tailored to each product that we release under the Badger Cetedel umbrella and will have to pass through BadgerDAO Governance via Forum and Snapshot. Unless otherwise noted, rewards pool token allocations will be pulled from the treasury.
The Gates to the Cetedel
The future BIPs that will lay down the stepping stones to the Cetedel will propose analysis on topics such as:
- Fee and revenue structures
- Market sizing and opportunity assessment
- Proposed incentive structure (eg. volume- based BADGER/DIGG rewards and rewards pool allocations)
- Controls to prevent gaming structure
- Profitability forecasting in addition to user-stickiness mandates
Look out for more details over the next few days as we will begin to release details about our first Cetedel product. With this upcoming release, we look forward to kicking off this new program and continuing to solidify BadgerDAO as the go-to one-stop shop for Bitcoin on DeFi.