Badger DAO (BADGER): What It Is, Uses and Risks

BADGER is the token linked to Badger DAO, a decentralized finance project. According to the project description in our data, the aim is to build a set of DeFi products with the long-term goal of bringing Bitcoin into Ethereum. The project says it was the first DeFi project to make BTC its main reserve asset instead of ETH. Public reporting describes Badger DAO as a decentralized autonomous organization, which means it is run by its community through token-based governance and smart contracts rather than by a conventional company. Our site classifies the token as both a yield farming token and a governance token. The project name and the token ticker refer to the same ecosystem, so readers should be clear about which one a source means.

The most consistent public description of the token's purpose is governance. A search result from Badger's own published material says BADGER is meant to govern the wider ecosystem, including the Sett vaults, the treasury and day-to-day operations. Sett vaults were yield products in the Badger system, and the yield farming label reflects that link to earning returns on deposited assets. Our data also notes that the vault and eBTC front-ends have been sunset, while the underlying contracts remain accessible on-chain. That means the practical role of the token today is less clear than its original design. Public sources we have do not confirm which governance votes are active or how much control holders currently exercise, so readers should check the project's current communications before assuming any active use.

As of 2026-11-05, the data shows a price of about 0.31 US dollars, a market capitalization of about 6.0 million dollars, and a fully diluted valuation of about 6.5 million dollars. The token ranked 1,580th by market capitalization, and 24-hour trading volume was only about 3,900 dollars at the time of writing. Over seven days the price was up about 0.7 percent, while over one year it was down about 56 percent. Circulating supply is about 19.5 million tokens against a total and maximum supply of 21 million. The all-time high was 89.08 dollars on 2021-02-08, and the recorded all-time low was about 0.29 dollars on 2026-10-29. These figures change constantly and are not a forecast of future prices.

The data lists BADGER as issued on five networks: Ethereum, Harmony, Fantom, Arbitrum and xDai, which is also known as the Gnosis Chain. It is not listed as the native token of any single blockchain. A token issued on several networks usually exists as separate contracts on each one, and those versions do not always trade together or have the same liquidity. Before buying or moving tokens, confirm which network you are using and that the contract address matches the one the project publishes. Our category data also links the token to ecosystem groupings for Ethereum, Fantom, Harmony, Arbitrum, Gnosis and Energi, which describe where projects sit rather than how the token works.

The main risks are low liquidity, reduced product activity and uncertain governance value. Trading volume in our data is very small, so a modest trade can move the price sharply and selling may be difficult at a quoted price. Public reporting also mention that a major exchange removed BADGER perpetual futures contracts, citing low liquidity and risk management concerns. Because the vault and eBTC front-ends are sunset, the tokenholder's reason to hold the token is unclear. Scam tokens and fake websites that imitate Badger DAO are common in this sector, so check any link or contract address against sources you trust. To store BADGER, use a self-custody wallet that supports the specific network you hold it on, and never share your seed phrase or private keys with anyone. This page is for research and is not financial advice.