Ren, an open protocol that allows the movement of value between blockchains, today announced that Badger Bridge has integrated RenVM. BadgerDAO, makers of Badger Bridge is a decentralized autonomous organization (DAO) that builds products to bring BTC to DeFi.
With this integration, BadgerDAO users can now easily convert native Bitcoin (BTC) to renBTC, WBTC, or deposit bitcoin directly into BadgerDAO’s Vaults: bCRVrenBTC, bCRVsBTC, etc. with one click.
Bridge Mining Program + Benefits of Badger Bridge
Along with a more seamless UX for users, BadgerDAO is driving the transfer of up to 100,000 BTC with nearly $ 6 million in user rewards. This will be the largest incentive program used to date to bridge bitcoin to Ethereum; with rewards for simply using the bridge to build and earn revenue.
Simply put, not only can users now seamlessly earn a return on tokenized BTC immediately, but they will also be rewarded for it.
BadgerDAO & WBTC.Cafe
To further strengthen the relationship with BadgerDAO, the Ren team will transfer WBTC.cafe to the new Badger Bridge. As such, traffic from BTC.cafe will now direct users to the Badger Bridge.
This will facilitate further decentralization of RenVM’s infrastructure, make Badger Bridge the perfect place to put BTC to work, and help from a UX perspective by consolidating it functionally for users. The cafe will begin to divert to Badger Bridge in the coming days.
“We’ve been working with the BadgerDAO team since day one, so we’re excited to see this become a reality as this integration provides a foundation upon which other future Badger products can be built. Given this deep collaboration, we expect to replicate this functionality across all DeFi ecosystems, so keep an eye out for similar products on Binance Smart Chain, Fantom, Solana, Polygon, and more! BagderDAO will be the one-stop shop for everything Bitcoin in DeFi has to offer, with a lot more to come. Forward and higher. “
– Ren COO, Michael Burgess