Supporting Community Driven Growth for Bitcoin in DeFi - https://badger.com -
State of the DAO: 2023-Q3
TL;DRIn Q3 BadgerDAO focused on building the eBTC protocol, pushing through the final stages of development. Further audits of eBTC were completed to ensure the safety and robustness of the product at launch. While the Badger Treasury continued to bring positive returns in Q3, these returns have diminished due to yields moving lower in DeFi across the board. Some highlights of the most important treasury events:~$2M decrease in the notional value of treasury holdings due to price depreciation...
State of the DAO: 2023-Q3
TL;DRIn Q3 BadgerDAO focused on building the eBTC protocol, pushing through the final stages of development. Further audits of eBTC were completed to ensure the safety and robustness of the product at launch. While the Badger Treasury continued to bring positive returns in Q3, these returns have diminished due to yields moving lower in DeFi across the board. Some highlights of the most important treasury events:~$2M decrease in the notional value of treasury holdings due to price depreciation...
State of the DAO: 2023-Q2
TL;DRIn Q2 Badger continued to focus on building the eBTC protocol and preparing to go to market. The eBTC protocol underwent intense review and auditing to assure a quality product. The Badger Treasury continued to bring positive returns in Q2 as crypto markets experienced volatility related to regulatory uncertainty. Some highlights of the most important treasury events:$3.1M decrease in the notional value of treasury holdings due to price depreciation of treasury assets, more than half com...
State of the DAO: 2023-Q2
TL;DRIn Q2 Badger continued to focus on building the eBTC protocol and preparing to go to market. The eBTC protocol underwent intense review and auditing to assure a quality product. The Badger Treasury continued to bring positive returns in Q2 as crypto markets experienced volatility related to regulatory uncertainty. Some highlights of the most important treasury events:$3.1M decrease in the notional value of treasury holdings due to price depreciation of treasury assets, more than half com...
State of the DAO: 2023-Q1
TL;DRQ1 was a time for the Badgers to buidl. The framework for a new DeFi primitive called eBTC was introduced to the community (forum: introduction, update#1) while a boon to the Badger Treasury in Q1 stemmed from a strong market recovery for crypto in general. Some highlights of the most important treasury events:$7.7M increase in the notional value of treasury holdings due to price appreciation of treasury assetsIncreased revenue despite low engagement from usersStrong stablecoin inflow co...
State of the DAO: 2023-Q1
TL;DRQ1 was a time for the Badgers to buidl. The framework for a new DeFi primitive called eBTC was introduced to the community (forum: introduction, update#1) while a boon to the Badger Treasury in Q1 stemmed from a strong market recovery for crypto in general. Some highlights of the most important treasury events:$7.7M increase in the notional value of treasury holdings due to price appreciation of treasury assetsIncreased revenue despite low engagement from usersStrong stablecoin inflow co...
Building the Tools: BadgerDAO's Financial Reporting
In DeFi, all financial transactions are public by definition. However, administering a DAO's financial data on a quarterly or annual basis is not always as simple as it is in traditional financial systems. There, monitoring two or three bank accounts is usually enough to gather all transactions. In BadgerDAO’s case, the system is composed of at least 250 different addresses, making it a challenge to generate a complete overview of all transactions. In the past couple of years, numerous p...
Building the Tools: BadgerDAO's Financial Reporting
In DeFi, all financial transactions are public by definition. However, administering a DAO's financial data on a quarterly or annual basis is not always as simple as it is in traditional financial systems. There, monitoring two or three bank accounts is usually enough to gather all transactions. In BadgerDAO’s case, the system is composed of at least 250 different addresses, making it a challenge to generate a complete overview of all transactions. In the past couple of years, numerous p...
State of the DAO: 2022
TL;DRBadgerDAO was relentless in building through very difficult conditions in 2022 (see retrospective report). The challenges faced acted as a catalyst for elevating the DAO's business maturity:Numbers are more clear and sustainable, leading to better informed decision makingService providers are upgrading with more narrow focus and higher quality, at less costThe protocol is progressing towards more decentralization and censorship resistancePerformance highlights include:2022 revenue o...
State of the DAO: 2022
TL;DRBadgerDAO was relentless in building through very difficult conditions in 2022 (see retrospective report). The challenges faced acted as a catalyst for elevating the DAO's business maturity:Numbers are more clear and sustainable, leading to better informed decision makingService providers are upgrading with more narrow focus and higher quality, at less costThe protocol is progressing towards more decentralization and censorship resistancePerformance highlights include:2022 revenue o...
