Weekly Pill — Volume 005

BadgerDAO 🦡
eBTC Protocol
Published in
2 min readFeb 27, 2024



  • ETH and BTC both up 10%+ on the week
  • BTC touched $57k and ETH touched $3.25k
  • ETHBTC flat at 0.057
  • ETHBTC bull case and BTC ETF commentary
  • eBTC Bug Bounty and ETHDenver

ETH/BTC Market Snapshot

ETH and BTC pumped hard today, both up over 10% on the week, with BTC touching $57k and ETH reaching $3.25k. After seeing gains early in the week, the ETHBTC ratio ended up flat at 0.57

Dose of ETH

Quinn Thompson makes the newsletter again this week for expanding on his ETHBTC thesis:

The ratio of the current market price of ETH futures EFUT to ETH’s value has shown a 22% underperformance in approximately five months, demonstrating the importance of spot ETFs, or better, the real thing.

Dose of BTC

As BTC continues to show incredible strength post-ETF launch, an excerpt from Bitwise CIO’s memo discussing this new era of price discovery.

With the recent surge in prices, Bitcoin continues to make new ATHs against many currencies. USD next!

Security Spotlight

eBTC’s BadgerDAO Boosted Bug Bounty with Immunefi is still live!

💵Total Reward Pool: $200,000 USD

📅 Duration: Feb 19th 8am UTC to March 4th 8am UTC

In addition, a Mystery Award is being offered for 3 good reports 🎁


eBTC has touched down at ETHDenver! Spadaboom introduced a crowd of builders to eBTC at the DeFi Day event presented by DystopiaLabs.

Did You Know?

After last week’s post covering various CDP peg maintenance strategies, we took a look at how eBTC manages its peg. Catch up here:

eBTC Roadmap

More exciting details will follow as we lead up to the eBTC launch, here is what we’ve accomplished and what’s up next.



BadgerDAO 🦡
eBTC Protocol

Supporting Community Driven Growth for Bitcoin across DeFi.