Thread by @The_ReadingApe

We did an error in the introduction of @spadaboom1, hence we're redoing it for the sake of accuracy. Very sorry for the error, so here's the corrected version.

@spadaboom1 Intro to BadgerDAO

🦡 Badger has a mission to build the products and infrastructure needed to accelerate $BTC as collateral across other blockchains
🦡 Chris Spadafora is the founder of BadgerDAO

@spadaboom1 Updates over the past 6 months

🦡 Community has gotten stronger 🔥 - more involved in the decision-making process
🦡 Most of Crypto Twitter is price-oriented
🦡 But price is not an indicator of the ability to deliver products or build a community

@spadaboom1 "People that are exponentially smarter than me are involved every day and doing things that I could have never dreamed of being able to accomplish myself nor with a team that I tried to pull together."

- Chris Spadafora

@spadaboom1 Improvements to workflow

🦡 Started request for feedback (RFF) Discord channel
🦡 Allows the community to talk about stuff before any improvement proposal is set up
🦡 So when the actual proposal comes in, everyone is on the same page already 🤝
🦡 More aligned, more inclusive

@spadaboom1 Overall thoughts and plans

🦡 More clear now on what they want to achieve
🦡 Bridges 🌉 to different chains are more seamless
🦡 New vaults with new yield strategies are introduced
🦡 Very happy with the progress so far
🦡 $ibBTC is growing in liquidity and utility

@spadaboom1 Badger ecosystem

🦡 Mission is not changed but utility and direction of products had changed a little
🦡 Introduced $DIGG, Badger Bridge and $ibBTC
🦡 All the products are no longer fragmented but works together as a system

@spadaboom1 Difficulties in crossing chains

🦡 Looking at EVM compatible chains only @0xPolygon @arbitrum
🦡 Underestimated the effort when they started off with BSC
🦡 Overcame this problem and they are now ready to launch on any chain in a few days

@spadaboom1 @0xPolygon @arbitrum 🦡 With $ibBTC, they can also bridge these tokens to other chains without launching vaults
🦡 They will be bringing $ibBTC over to a new chain to see how the demand picks up
🦡 If the demand is good, then they will bring the vaults over

@spadaboom1 @0xPolygon @arbitrum Importance of community

🦡 Look at whether you have members that share the same values - if there's none, you're in trouble
🦡 Users not only want a trusted place to earn a high return, they also want to be around people that they like 👪
🦡 Have high integrity - do what you say

@spadaboom1 @0xPolygon @arbitrum NFT

🦡 NFT and DeFi space are going to collide
🦡 There will be more utility to NFT and having such NFTs will give you perks in Web3 ecosystem
🦡 Imagine being able to earn more interest in vaults by just holding an NFT

@spadaboom1 @0xPolygon @arbitrum 🦡 Current distribution of NFTs is not ideal
🦡 Should reward users for doing actions that align with what you are trying to accomplish
🦡 Identifying users and incentivizing them based on actions done will increase the likelihood of them being an active community member

@spadaboom1 @0xPolygon @arbitrum 🦡 @fractional_art should be included in all NFT launches as a way to distribute NFT to the masses
🦡 @andy8052 from Fractional helped design the original smart contract for the Badger airdrop
🦡 Fractionalize a bunch of 1/1 NFTs and distributing them gives users skin in the game

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 🦡 Badger are discussing how to use NFTs to increase the APY for the Bitcoin deposits
🦡 Will be coming up with more NFT launches
🦡 Profile pic NFTs needs to have more utility rather than just looking cool
🦡 DeFi is on a bigger mission to create a new financial system

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 🦡 NFTs have different rarities e.g. 1/1 or 1/100
🦡 @ParallelNFT did a great job breaking down the different editions and bringing in the idea of creating sets
🦡 Fractionalize the rarer 1/1 NFT to distribute them further
🦡 Utility can be built around the fractionalized NFT

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT Milestone for Badger

🦡 Most exciting milestone is their integration with @CurveFinance to drive utility for their $ibBTC
🦡 Partner first strategy involves ensuring sustainability by sticking around instead of selling farmed tokens

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT @CurveFinance Flywheel

🦡 Generate yield for $ibBTC in vaults
🦡 Bitcoin deposited with Badger will be channelled to @ConvexFinance, earning $CVX & $CRV
🦡 Lock these tokens to support the protocols and also to vote for higher APY in their pools
🦡 Higher yield attracts more people to come in

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT @CurveFinance @ConvexFinance 🦡 They will do the same thing with @FantomFDN, @avalancheavax, Polygon and Arbitrum
🦡 Getting ready to launch a @mstable_ vault
🦡 mstable DAO loans BadgerDAO a bunch of $MTA so that Badger can boost their yields in vaults
🦡 Badger will have a competitive advantage

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT @CurveFinance @ConvexFinance @FantomFDN @avalancheavax @mstable_ Actions to take

🦡 Join the Badger community and hang out in Discord
🦡 Contribute any ideas, even non-technical ones
🦡 There is a community member in Discord who can build a custom badger profile upon request - may or may not be an alpha leak for their upcoming NFT launch

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT @CurveFinance @ConvexFinance @FantomFDN @avalancheavax @mstable_ Links

🦡 Video:
🦡 Substack article: thereadingape.substack.com/p/talking-cryp…

Thanks to Gabriel for the great interview with Chris!

@spadaboom1 @0xPolygon @arbitrum @fractional_art @andy8052 @ParallelNFT @CurveFinance @ConvexFinance @FantomFDN @avalancheavax @mstable_ Like our work?

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Apes together strong🦍🦍🦍💪💪💪

Stay strong, apes 🦍💪

~ End Thread