Bitcoin (BTC) DeFi solution BadgerDAO integrates RenVM
Ren, an open protocol that enables the movement of value between blockchains, today announced that Badger Bridge has integrated RenVM. BadgerDAO, creators or Badger Bridge is a decentralized autonomous organization (DAO) building products to bring BTC to DeFi.
With this integration, BadgerDAO users can now easily convert native Bitcoin (BTC) to renBTC, WBTC, or deposit bitcoin directly into BadgerDAO’s Vaults: bCRVrenBTC, bCRVsBTC, etc. with one click.
Bridge Mining Program + Perks of Badger Bridge
Along with a more seamless UX for users, BadgerDAO is incentivizing the transfer of up to 100,000 BTC with nearly $6M in user rewards. This will be the largest incentive program used to bridge bitcoin to Ethereum to date; with rewards for simply using the bridge to mint and earn yield.
To put it simply, not only will users now be able to seamlessly earn a yield on tokenized BTC immediately, but they will also get rewarded for doing so
BadgerDAO & WBTC.Cafe
To further solidify the relationship with BadgerDAO, the Ren team will be transitioning WBTC.cafe over to the new Badger Bridge. As such, BTC.cafe’s traffic will now route users to the Badger Bridge.
This will facilitate further decentralization for RenVM’s infrastructure, make Badger Bridge the go-to place for putting BTC to work, and helps from a UX perspective by consolidating this functionally for users. The Cafe will begin to redirect to Badger Bridge over the coming days.
“We’ve been working with the BadgerDAO team since day one, so we’re excited to see this come to fruition as this integration provides a foundation upon which other future Badger products can be built. Given this depth of collaboration, we expect to mimic this functionality throughout all DeFi Ecosystems, so keep an eye out for similar products on Binance Smart Chain, Fantom, Solana, Polygon, and more! BagderDAO will be the one-stop shop for all things Bitcoin in DeFi, so much more to come. Onwards and upwards.”
– Ren COO, Michael Burgess