Besides wBTC, Stacks and Rootstock, BadgerDAO, RenVM and Liquid Network promote various use cases of Bitcoin DeFi.
A decentralized autonomous organization (DAO) called BadgerDAO makes it possible for BTC to be utilized as collateral across various DApps. The BadgerDAO uses the Ethereum-based token BADGER for protocol governance and incentive distribution.
Users can earn income on their synthetic BTC assets using Sett Vaults, the first product offered by Badger. Users can lock up their tokenized Bitcoin in SETTs, which are pools of tokens, and let smart contracts manage their holdings to produce a yield in the form of bTokens.
The second product from Badger, called Digg, is software that controls the elastic-supply cryptocurrency called the DIGG token, pegged to the price of BTC in United States dollars. Like any other token, DIGG can be deposited into SETTs to provide a yield for its holders and used in DeFi protocols.
The decentralized Ethereum…