Bring your Bitcoin to DeFi.
Badger Bridge is a core product of BadgerDAO, managed in collaboration with the Ren Protocol. It allows users to bring BTC from the Bitcoin blockchain into Ethereum, and receive either a renBTC or WBTC token.
renBTC and wBTC are fully collateralized representations of Bitcoin on Ethereum, meaning they are backed 1:1 with Bitcoin and can be swapped back into BTC at any time with very low slippage.
renBTC and wBTC may then be deposited in Sett Vaults to earn yield, used as collateral on other protocols, swapped for different tokens, or any of the hundreds of other uses across DeFi.
The Bridge has three main functions:
- Mint: Brings BTC from the Bitcoin blockchain and outputs either renBTC or wBTC on Ethereum.
- Mint & Earn: Brings BTC from the Bitcoin blockchain and deposits it directly into one of four yield earning Sett Vaults.
- Release: Converts Vault positions, renBTC, or wBTC on Ethereum back to BTC on the Bitcoin blockchain.
- Minting and Mint & Earn: 0.4%
- Burn: 0.55%
- Bitcoin fees (fee required by BTC miners): 0.001 BTC
- Max amount: None, you can send as much BTC as you want.
- Minimum amount: 0.001 due to miner fees, a transaction lower than that would result in an output of 0 renBTC.