According to a Badger Improvement Proposal (BIP), decentralized finance (DeFi) platform Badger DAO (BADGER) is looking to migrate to a new domain site.
BADGER Wants A New Home
In a governance listing of BIP 43, the Badger community voted to acquire a new home for the decentralized autonomous organization (DAO), which will be “Badger.com.”
Speaking on the potential benefits this move would bring to the growing Badger family, BadgerDAO founder Chris Spadafora said that the proposed new domain would further solidify the Badger brand as a trusted Bitcoin trade place. According to Spadafora, Badger.com would quickly increase the value across all these categories (daily traffic, referring websites, search engine optimization, and other growth metrics.
Spadafora said the targeted domain name would cost the DeFi project $300,000 against the $500,000 tag quoted by domain brokers. Relating why the Badger.com site is more cost-efficient, he said a fellow community member Arben Kane purchased the domain through personal connections.
Kane got the domain with the intention of transferring ownership to the Badger community. Spadafora said he’s willing to do so with no extra markup in exchange for USDC stablecoin from the DAO treasury.
Spadafora said his one true goal is to expand the BadgerDAO brand to provide a great user experience for non-native crypto users who may be visiting the site for the first time. Aside from that, the Badger.com idea would help to eliminate the common stigma that is surrounding the crypto industry at present.
Spadafora points to a recurring challenge the cryptocurrency space is facing—trust.
Many traditional investors are put off by the growing number of crypto scams and malicious attacks the nascent space is experiencing. Scammers and bad actors have proliferated the crypto space, making it hard for investors to recognize a genuine DeFi project easily.
Although BadgerDAO has seen investments coming in the millions, the community still needs to raise çapital to fund its operations, as it’s still not recognized as a legal entity and cannot transact any business to generate funds.
Changing domain names are gradually becoming a thing in the blockchain industry. A popular spin-off of decentralized exchange UniSwap, Sushiswap, received its domain name “sushi.com” from cryptocurrency investment fund Future Fund.
The deal gulped a reported $1.9 million, according to popular domain website domaingang.com. However, changing the web url has also seen the network traffic go through the roof.
Joseph Delong, CTO at SushiSwap, said that the gift was appropriate and well-timed. Delong shared in a tweet thread that the new domain name has brought more recognition for the brand.
Badger DAO Diversifies Treasury Investment
Badger DAO has also been making strategic moves in the industry. According to an announcement made on March.3, the Badger DAO community diversified $21 million of its DAO treasury assets into four major investment houses; Polychain Capital, Parafi Capital, Blockchain Capital, and notable whale wallet 0xB1.
The sale, which was first listed in its BIP 37 governance session named “Treasury Diversification Through Strategic Partnerships,” will see the earmarked DAO assets converted to USDC stablecoins as a “Badger Backstop” insurance pool, according to founder Chris Spadafora. Spadafora said that it will now be left to the community to decide if they will like to invest the stablecoin in a yield-bearing protocol or keep them in the Badger treasury.