Badger DAO, a Bitcoin DeFi Solution, Raises $21 Million from Top Crypto Venture Capital Firms
Summary
The move aims to diversify some of the BADGER tokens held on the platform’s DAO treasury as a “backstop” to huge bearish market movements. Raising VCs funds will help Badger DAO reduce the market risks of selling through AMMs while gaining strategic value from the investors. Chris Spadafora, the founder of Badger DAO, supported the current change in the system that is seeing more VCs invest in decentralized finance platforms. “DAOs should embrace large investment players based on their willingness to participate in governance and open their network to push the protocol forward,” Spadafora said. The VCs will also be “getting involved in governance to help the protocol grow, providing long-term liquidity and building more bridges with institutional ecosystem partners,” Spadafora added.