BadgerDAO is a decentralized autonomous organization that aims to build the products and infrastructure necessary to bring Bitcoin as collateral to other blockchains.
BadgerDAO has played an important part in Wrapped Bitcoin’s rise above its competition. The platform currently has $632 million in tokens locked in.
There are 13 vaults (called “setts”) in total on the website where you can deposit your tokens. A lot of these setts are liquidity pairs of WBTC and some other token. As a natural consequence, not all the value is locked under the wrapped token.
Nonetheless, there is a WBTC-only sett that is powered by Yearn Finance. The vault is now the biggest one on the platform with about $200 million tokens deposited.
Badger offers quite low price-to-earning ratio | Source: BadgerDAO
The above chart is from a BadgerDAO report that shows that they have one of the lowest price-to-earning ratios when compared to other DeFI businesses.