Badger Bitcoin Bridge is a new solution from the Badger team that facilitates using BTC token in DeFi applications. It helps Bitcoin users to benefit more from services like Badger Setts. They can earn yields from their tokenized BTC in Badger immediately. Bridge is now ready in the Badger App, and BTC users can use it to easily earn money from their holdings in terms of yield farming or similar strategies.
Bridging the Gap Between Bitcoin and Defi
Bitcoin users have been put away from the benefits and opportunities of the DeFi ecosystem for a while. Staking, yield farming, or any other means of revenue in the DeFi ecosystem wasn’t easily accessible for them. Most of the DeFi applications run on Ethereum or similar blockchains that are different and somehow disconnected from the Bitcoin blockchain. It’s the reason that using BTC in DeFi systems is always difficult.
Some solutions have emerged in the DeFi community that use BTC holdings in a wrapped form. These Wrapped BTC tokens can be used in DeFi applications and provide the opportunity for yield farming to holders. Badger announced a similar solution named Bitcoin Bridge.
Badger plans to become the one-stop shop for Bitcoin holders to benefit more from their holdings. The latest solution helps Bitcoin users earn yields from their holdings immediately. They can use tokenized BTC, and Badger also rewards them for mining. The Bridge Mining Program includes a $5b reward for users that use the bridge to earn yields from BTC holdings.
The new solution from Badger comes with a strengthening partnership with the RenVM team. Ren Team has agreed to transition their wBTC.cafe product to the new Bader Bridge.
Badger plans to partner with more platforms to provide the new Bitcoin Bridge in more DeFi applications, according to the latest announcement:
“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!”
The announcement post continues with descriptions about how to implement the Badger Bridge and connecting wallets. The latest solution from Badger surely helps BTC holders enter the DeFi world easier. Some of those holders never want to convert BTC to other tokens, and the solution helps them keep BTC while benefiting from DeFi opportunities.