Tuesday, May 24, 2022
Home Latest News Defi Badger DAO to acquire "Badger.com" domain for $300,000

Badger DAO to acquire “Badger.com” domain for $300,000

The DeFi protocol has paid $300,000 for the domain "badger.com."

The Badger DAO group is getting ready to switch to new “diggs”: the decentralized finance network will soon take over the domain web “Badger.com.”

BadgerDAO founder Chris Spadafora wrote in BIP-43, a Badger Improvement Proposal posted to governance forums today, that the new domain would “quickly increase the value [of the app] across all these categories (daily traffic, referring websites, search engine optimization, etc.)”

“As Badger expands to become the most trusted place for anyone to put their Bitcoin to work, it’s important that the first experience for non-native crypto users is comfortable and that we help them quickly overcome the common stigma that surrounds the cryptocurrency industry today,” Spadafora told Cointelegraph of the buy.

“Essentially Arben Kane purchased it for $300k with the intention of transferring ownership to the DAO. He went direct to the seller since he knew him personally while I was working with brokers quoting me $500k so the middlemen get their cut,” said Spadafora. “Now I’m putting a proposal together to have the community sign off on using treasury funds to buy it from Arben at the cost he paid.”

According to cointelegraph.com, despite maintaining a treasury worth well over half a billion dollars in various assets, the DAO is unable to buy the domain outright due to its lack of legal status, forcing the purchase-vote-transfer process to take place.

Badger isn’t the first DeFi project with a homepage. SushiSwap, a multiservice site, obtained the “sushi.com” domain from crypto investment firm Future Fund earlier this month. SushiSwap’s domain had historically been scattered around many domains, and the team said they “couldn’t believe” they’d received the expensive web property — it had previously been listed for between $600,000 and $1.5 million on multiple domains auction platforms.

The new domain, according to SushiSwap CTO Joseph Delong, has been a major source of traffic for the project.

“We have seen a 5x in our web3 calls to our Alchemy instances that coincided with the procurement of http://sushi.com. I think from a branding perspective it has been a boon,” Delong said.

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