Badger DAO

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

Badger DAO's governance or utility token carries a market capitalisation of US$824.1万 based on circulating supply at the latest DeFiLlama snapshot. Token market cap (US$824.1万) and TVL (US$927.2万) trade close together, giving a mcap/TVL multiple of 0.89× — broadly the range market participants treat as "fair" for an established DeFi protocol.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Badger DAO is a Yield Aggregator — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed across 5 chains, including Ethereum, Arbitrum, Polygon, Binance and 1 other chain. The codebase has been independently audited (8 reports on file).

Badger DAO runs a multi-chain deployment, with smart contracts live on 5 networks. Roughly 100% of its on-chain value sits on just three networks (Ethereum, Arbitrum, Polygon), so a fault on any one of them would affect a large slice of users. 8 public audit reports are linked from DeFiLlama, which is on the higher end of transparency for the DeFi sector — most protocols of comparable TVL publish far fewer. Token market cap (US$824.1万) and TVL (US$927.2万) trade at a ratio of 0.89, in the range generally considered normal for an established DeFi protocol.

Verified external resources for Badger DAO — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Badger DAO is one of 7 Yield Aggregator protocols Mantapex tracks in this category. Direct peers ranked by total value locked include CIAN Yield Layer, Yearn Finance, Fluid Lite, and 3 more. These peer protocols collectively secure US$11.5亿 in deposits, giving you a frame of reference for whether Badger DAO's own TVL is at the top, middle, or tail of the category.

CIAN Yield Layer

TVL US$3.8亿 · 24h +6.83%

Yearn Finance

TVL US$2.6亿 · 24h +1.32%

Fluid Lite

TVL US$1.8亿 · 24h +0.74%

Beefy

TVL US$1.5亿 · 24h +0.77%

Lulo

TVL US$9708.2万 · 24h +0.54%

YO Protocol

TVL US$7829.6万 · 24h +0.84%