Background
Both DXdao and BadgerDAO have strong communities that have been building interesting products in the DeFi space. DXdao launched Swapr onto Arbitrum in September 2021 and made an even bigger splash with the launch of the $SWPR token and its community airdrop.
Soon after, Swapr kicked off its $SWPR governance token rewards distribution program on Arbitrum. Swapr rapid growth caught the attention of many in DeFi, including a vicious little bad-a$$ animal — BadgerDAO 🦡.
SWPR Liquidity Mining is available for BadgerDAO Setts 🎉
BadgerDAO believes in bringing Bitcoin to DeFi, and has a special focus on BTC yield farming strategies. Sett Vaults allow you to deposit over twenty Bitcoin-linked crypto assets into smart contracts that execute automated strategies to achieve “Some of the best risk-adjusted rewards across DeFi.” To do this, Sett Vaults auto-harvest LP rewards and combine transactions to save on gas costs.
Meanwhile, DXdao’s Swapr is in the early days of distributing its governance token $SWPR. Swapr’s multi-chain liquidity mining program aims to bootstrap governance with a wide, decentralized base of active community members.
In a DAO2DAO collaboration aiming to better align the two communities and create value for each other, $SWPR liquidity mining has been extended to BadgerDAO’s Vault strategies on the Arbitrum network.
Swapr and BadgerDAO are providing dual rewards for the following pairs: SWPR/wETH, Badger/wETH, wBTC/wETH, and ibBTC/wETH. Liquidity providers to these pools on Swapr can now receive double rewards, earning $SWPR and $BADGER at the same time! To do this, simply provide liquidity on Swapr to obtain LP tokens representing the value and percentage of your deposits in those pool, then deposit these LP tokens in the corresponding BadgerDAO vault:
- Swapr BADGER/wETH pair — First add liquidity to get LP tokens from Swapr, then deposit on BadgerDAO 👉 BADGER/wETH Badger Sett
- Swapr ibBTC/wETH pair — First add liquidity to get LP tokens from Swapr, then deposit on BadgerDAO 👉 ibBTC/wETH Badger Sett
- Swapr SWPR/wETH pair — First add liquidity to get LP tokens from Swapr, then deposit on BadgerDAO 👉 SWPR/wETH Badger Sett
- Swapr wBTC/wETH pair — First add liquidity to get LP tokens from Swapr, then deposit on BadgerDAO 👉 wBTC/wETH Badger Sett
NOTE: for the Badger links to work, you must first connect with your wallet on app.badger.com. All BadgerDAO Setts only have a 0.1% withdrawal fee, and LP tokens can be withdrawn at any time.
DXdao 🤝 Badger DAO: Unified by a common vision
Both DXdao and BadgerDAO were well positioned to execute quickly on Arbitrum, the first open EVM Layer 2 to go live. It immediately made sense to start discussing a collaboration that could result in innovation and benefit both communities.
Instantly, ideas started flowing, there were clear shared principles, and many complimentary reasons to work together. Overall, the goal of the partnership is to combine the strengths of the DXdao and Badger communities via a technical integration between Swapr, its farming interface and Badger Sett Vaults to create value for the Arbitrum ecosystem and its users. If successful, both parties will win, leading to increased capital into Swapr and into Badger Vaults on Arbitrum.
DXdao respects the ethos and core principles of BadgerDAO, and is excited to contribute to bring BTC to the DeFi ecosystem on Arbitrum. BadgerDAO also has a strong community and it made sense for DXdao and Badger to join forces.
DXdao and BadgerDAO believe that true Layer 2 technologies (inheriting the security properties of Ethereum mainnet) are a key ingredient to the long term success of the ecosystem. Both communities were involved in pre-launch set-up on Arbitrum and were ready to lean into the Layer 2 solution at time of launch for Arbitrum One.
Building a DAO2DAO Relationship
To execute the combined strategy, there has been a step-by-step approach, emphasizing security and safety over speed. Badger integrations with Swapr first launched with two guarded vaults for the SWPR/WETH pool and the WBTC/WETH pool. These are both now live as standard Sett Vaults.
Following an integration period, Badger next launched guarded vaults for BADGER/WETH and ibBTC/WETH, two of the flagship pairs for BadgerDAO. With a large focus on growing ibBTC liquidity on Arbitrum, the Swapr community was excited to provide attractive SWPR rewards for both pairs. The ongoing decentralized distribution of Swapr’s governance token SWPR through liquidity mining has now extended to reward LPs in all these pools.
DXdao has had a strong recent focus on building valuable DAO2DAO relations. The partnership with Badger DAO is a prime example of two DAOs combining forces to produce a win-win for both communities, the Arbitrum ecosystem, and DeFi users altogether.
This early collaboration hopes to be only the badger cubs beginning of a long and prosperous partnership. 🦡
Experience Swapr on Arbitrum and find more liquidity mining here.
Learn more about Badger DAO here and explore all Setts here.
Learn more about DXdao here.
About Swapr: Swapr is a multi-chain automated market maker (AMM), deployed on Ethereum mainnet, xDai, and Arbitrum. Swapr is the first AMM to allow for adjustable swap fees through governance, as well as the first DAO deployed DeFi protocol on Ethereum; developed organically within the DXdao community.
Connect with Swapr: Discord, Twitter, Telegram
Connect with DXdao: Discord, Twitter, Telegram, Keybase, DAOtalk Forum
