The growth and success of the cryptocurrency space had also propelled growth in the DeFi space, an ecosystem where tokens are starting to thrive massively. The successes of the tokens have now implied that several DeFi protocols have now started to partner and incorporate, in a bid to accommodate the rapid growth of the space.
The Ethereum powered space has also ridden on the success of the Ethereum network to bolster its own space. In a new announcement, Ethereum powered DeFi Protocol Badger Dao has recently announced that it will partner with fellow DeFi protocol, Yearn.finance, to facilitate several projects.
The new partnership will birth several DeFi powered projects
Badger DAO is a bitcoin themed project launched on Ethereum Network late last year to adopt Bitcoin on Ethereum. The DeFi project had been a success so far, as deposits into it have gone approximately valued at about $2 billion. The DeFi protocol, in a bid to boost the success it has earned so far, is now planning to ride on the experience of Yearn.finance to add more value to its projects.
The new partnership is also set to allow its clients to earn massively on their deposits, to the delight of all. The official announcement mentioned that the new project would offer its clients and depositors more Yearn backed secured Bitcoin vaults. The partnership projects are also believed to favor depositors from both protocols, as it promises to deliver innovative products with the best security level.
The Bitcoin nature of Badger DAO also implies further that developers from Yearn.finance community will now be able to build and develop Bitcoin vaults, earning rewards in Badger and DIGG. The projected amount of projects the partnership of the two protocols has in plans will also benefit their developers, who will utilize the opportunity to earn bounty rewards.
The new partnership will boost the creation of CLAW
The Badger DAO project’s success has now taken its toll on its native token BADGER, which has been on a high in the past few weeks from its disappointing $4 mark, to trade up to $85 at the beginning of the week. The token’s price volatility is also responsible for a slight drop in prices for the Ethereum-based coin.
On the other hand, YFI, Yearn.finance native token is up in the last one week and continues to pull strength to outperform tokens like Ethereum. The partnership has also been touted to boost CLAW, a new product pipeline for the DeFi Project. Claw is a stablecoin with an expiry date that will be earned from deposited capital into the Badger DAO project. The stablecoin, as of now, can be used to trade across DeFi protocols. CLAW has been earmarked by several analysts to change the fortunes of Badger DAO and improve the overall DeFi space.