It’s been a quiet week as Liquis began the third epoch of its Pre-Launch Program. We’re looking forward to the conclusion of our second audit, this one conducted by Halborn, and the beginning of our final Pre-Launch epoch next week.
But what better way to cap off a quiet week than with a 💥banger💥of a Friday afternoon announcement? We’re pleased to share that Badger DAO has committed to be a Liquis launch partner with our largest capital commitment yet!
About Badger DAO
Badger DAO set out to be the home of Bitcoin in Ethereum DeFi. It is currently underway with a transition to a new state centered around eBTC, a synthetic asset pegged to the price of Bitcoin and backed by liquid Ether staking collateral. The goal of this transition is to provide DeFi with a Bitcoin-denominated stablecoin that has minimal governance, extreme transparency, and sustainable utility.
Users will be able to mint eBTC by collateralizing Lido Finance’s liquid staking token, stETH. All eBTC debt positions must be collateralized by at least 110% in collateral value. Any holder of eBTC is capable of liquidating debt positions below this threshold. In the event that an under-collateralized position is not properly liquidated in time, the remaining bad debt is socialized across all other debt positions in the protocol.
Notably, Badger DAO will be able to offer eBTC debt facilities to users without charging either interest or fees upon the minted amount. Instead, the protocol will enforce a protocol yield share on the yield generated by deposited collateral. The yield share proportion will initially be set to 50% but will remain a mutable parameter for Badger DAO governance. Yield share proceeds will go towards deepening liquidity for eBTC on decentralized exchanges and lending markets.
Badger DAO x Liquis
Badger DAO has committed to spend $100,000 on incentives for vote-locked LIQ (vlLIQ) holders to direct Bunni emissions toward eBTC and BADGER pools. Badger DAO has been a regular participant in Bunni, with the WBTC-BADGER pool claiming the fourth-highest all-time bribe total to date. As eBTC launches, Liquis will serve as its most efficient platform for securing concentrated liquidity.
Learn More about Badger DAO
You can follow and learn more about Badger DAO via the following resources:
The primary Badger DAO interface can be found here.
The Latest on Liquis
Liquis is currently in the third epoch of its Pre-Launch Program. The Pre-Launch Program runs through August 30th, and now with the blessing of Timeless Finance governance, its actual protocol launch is expected for right around that time as well. At that point, all deposits into the Liquis Pre-Launch will be deposited and locked for four years in the Bunni voting-escrow contract.
If you’re new to Liquis, make sure to join us on Twitter and Discord, as well as reading up on our documentation.