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News Explorer — Badger DAO to Launch New 'Synthetic' Bitcoin on Ethereum

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Mar 30, 8:18 pm

Blockworks

Badger DAO to Launch New 'Synthetic' Bitcoin on Ethereum

Badger DAO is introducing a new "synthetic" Bitcoin, eBTC, to Ethereum through liquid staking derivatives. It is designed to be one of the most decentralized synthetic Bitcoin assets, backed solely by liquid-staked ETH and reliant on immutable smart contracts. It eliminates the custodial risk of other assets such as wBTC, and is designed as an over-collateralized debt position with Chainlink's LSD/BTC oracle and Tellor as the backup oracle.

Badger DAO is introducing a new "synthetic" Bitcoin, eBTC, to Ethereum through liquid staking derivatives. It is designed to be one of the most decentralized synthetic Bitcoin assets, backed solely by liquid-staked ETH and reliant on immutable smart contracts. It eliminates the custodial risk of other assets such as wBTC, and is designed as an over-collateralized debt position with Chainlink's LSD/BTC oracle and Tellor as the backup oracle.

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