BadgerDAO partners with Lido to launch stablecoin pegged to Bitcoin

BadgerDAO, a leading name in the Bitcoin (BTC) realm, has joined forces with Lido, the top provider of liquid staking solutions on the Ethereum network. This powerful partnership is set to shake up the defi landscape and revolutionize the way we think about staking.

A groundbreaking eBTC system has just hit the market, revolutionizing the way we borrow money. Say goodbye to pesky interest rates, repayment hassles, and initiation fees. This innovative protocol uses Ethereum collateral and partners with Lido to generate staking rewards, making borrowing more affordable than ever before.

The protocol that takes wrapped Bitcoin to new heights by harnessing the power of staked ETH from Lido. Say goodbye to cumbersome cross-chain bridges and hello to a revolutionary approach to collateralization.

Introducing eBTC, the ultimate solution for mitigating bridge-related risks. But that’s not all – with customizable collateralization ratios and fail-safe liquidation mechanisms, your assets are always protected, with a minimum threshold of 110%.

Joining forces, Lido and the Liquidity Observation Lab (LOL) have crafted an exciting partnership that rewards early adopters of eBTC with extra stETH! As announced in their press release, this incentive program is designed to ignite a spark of motivation and drive, as participants receive their rewards without any pesky fees.

Lido reigns supreme in the world of staking on Ethereum, standing tall as the most prominent liquid staking protocol with an impressive TVL of $35.12 billion, according to DeFi Llama. However, in the realm of Bitcoin defi, it is BadgerDAO that takes the crown with a whopping $3.5 billion in BTC deposits.

Revolutionary as it may be, navigating the world of synthetic stablecoins and the defi landscape is not without its obstacles and dangers. With regulatory uncertainty, potential for loss from counterparties, and the ever-present volatility, users must tread carefully.

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The world of defi has been rocked by a series of threats, from cunning smart contract hacks to shady market manipulations. These vulnerabilities have left protocols teetering on the edge of instability and insecurity.

Take for example SushiSwap, which fell victim to a $3.3 million loss after a smart contract mishap last April.

In the year 2022 alone, the defi sector was hit with a staggering $2.7 billion in losses from smart contract breaches.

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