Badger DAO announced a new partnership with Yearn focusing on BTC vaults. The announcement claims that this partnership will result in best-in-class BTC vaults. The recent collaboration can be a vital milestone for Badger in the path for bringing BTC to DeFi. Badger and Yearn teams will work together based on this collaboration to create secured vaults for DeFi users.
Vital Step Toward Bridging the Gap
There are many projects that want to bring Bitcoin to the DeFi world. Some of them try to add smart contract features to Bitcoin blockchains, and others, like Badger, build various products to make that possible. Badger and Yearn have participated in previous steps and have been successful in running the initial stages. They’re now focusing on providing more services and tools to BTC users interested in DeFi.
Sett Vaults are one of the Badger products that set a record with $2B in total value locked. Badger now wants to expand the partnership with Yearn to move in lockstep. The ultimate goal for the recent collaboration between Yearn and Badger is to provide more secure vaults to users. Badger’s blog post says about new plans:
“Today, we’re excited to develop a partnership that will bring our teams together to further accelerate best-in-class BTC vaults for the industry. This is a step to further secure users’ funds as we continue to introduce more Yearn developed, maintained, and secured vaults to our users.”
Badger wants to change the way BTC users receive rewards for locking their assets. The current state is relied on Badger/DIGG rewards to generate yield for users. Yearn strategy differs from this mechanism, and Badger wants to change the yield process with the new partnership. The team is very optimistic about this partnership and hopes Yearn engineers can help them create BTC vaults with longer sustainability.
Badger DAO is a developer-first collective focusing on bringing BTC to DeFi. It allocates a considerable amount of supply to the developer mining program to attract more developers. They focus on providing better vaults for developers to work more on their products on the platform.
As a result of the partnership between Badger and Yearn, new Yearn developed BTC vaults will go live in the Badger app. Badger will incentivize these new vaults with Badger and DIGG to attract new users. In the coming weeks, the first collaborative vault of Badger and Yearn will go live in the app, too. As mentioned before, the ultimate goal is to attract as many users and developers to BTC vaults as possible.
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