# Latest **URL:** https://forum.badger.finance/latest.md [Latest](https://forum.badger.finance/latest.md) · [Categories](https://forum.badger.finance/categories.md) --- ## [Welcome to the BadgerDAO Discourse](https://forum.badger.finance/t/welcome-to-the-badgerdao-discourse/7)
**Author:** [@system](https://forum.badger.finance/u/system)\ **Replies:** 0\ **Last updated:** [December 9, 2020, 10:05pm UTC](https://forum.badger.finance/t/welcome-to-the-badgerdao-discourse/7 "2020-12-09T22:05:33Z")
Hello there! Welcome to Badger’s Forum. BadgerDAO is a decentralized autonomous organization focused on building the products and infrastructure necessary to accelerate the growth of Bitcoin in Decentralized Finance acr… --- ## [TCD #110. Q4 Funding](https://forum.badger.finance/t/tcd-110-q4-funding/6600)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [August 10, 2026, 11:50pm UTC](https://forum.badger.finance/t/tcd-110-q4-funding/6600 "2026-08-10T23:50:52Z")
TL;DR Allocate $1.124M for Q4 Development and Operations Allocate $17.1k for Q4 Marketing & Discord support Background Ever since the transition away from the Association was completed a year ago, the actual run rate o… --- ## [TCD #109. Q3 Funding](https://forum.badger.finance/t/tcd-109-q3-funding/6599)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [July 7, 2026, 8:00pm UTC](https://forum.badger.finance/t/tcd-109-q3-funding/6599 "2026-07-07T20:00:14Z")
TL;DR Allocate $525k for Q3 Development and Operations Allocate $17.1k for Q3 Marketing & Discord support Background As we build out the new protocol, the DAO run rate has been stable over the last three quarters - abo… --- ## [BIP 109 - Create a Legal Entity for BadgerDAO](https://forum.badger.finance/t/bip-109-create-a-legal-entity-for-badgerdao/6598)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 0\ **Last updated:** [June 29, 2026, 8:02pm UTC](https://forum.badger.finance/t/bip-109-create-a-legal-entity-for-badgerdao/6598 "2026-06-29T20:02:14Z")
Category: Governance (DAO) TL;DR Establishing a Marshall Islands entity for the DAO will bring clarity & certainty about what the DAO is, what it owns, and how it can interact with the world. It protects the DAO partic… --- ## [TCD #107. Buy up to 600k BADGER to Hedge TCD #106](https://forum.badger.finance/t/tcd-107-buy-up-to-600k-badger-to-hedge-tcd-106/6597)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [June 18, 2026, 1:11pm UTC](https://forum.badger.finance/t/tcd-107-buy-up-to-600k-badger-to-hedge-tcd-106/6597 "2026-06-18T13:11:57Z")
TL;DR: Buy up to 600k BADGER using a maximum of 4.5 cbBTC to compensate for BADGER expenditure from TCD #106. Implementation of this TCD is contingent on approval and successful implementation of TCD #106. Background: I… --- ## [TCD #106. Lend BADGER](https://forum.badger.finance/t/tcd-106-lend-badger/6596)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [June 18, 2026, 1:01pm UTC](https://forum.badger.finance/t/tcd-106-lend-badger/6596 "2026-06-18T13:01:02Z")
TL;DR Continue engagement with GSR by renewing the existing 300k BADGER loan and adding another 300k BADGER for a 12 month term. Background GSR has been providing market making services to BadgerDAO for 2.5 years now, … --- ## [TCD #105. Q2 Funding](https://forum.badger.finance/t/tcd-105-q2-funding/6595)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [April 21, 2026, 4:01pm UTC](https://forum.badger.finance/t/tcd-105-q2-funding/6595 "2026-04-21T16:01:28Z")
TL;DR Allocate $542k for Q2 Development and Operations Allocate $17.1k for Q2 Marketing & Discord support Background For two quarters in a row now, the DAO’s spending rate has been below $2M/year. Product development … --- ## [TCD #104: Add 0xGhostOnChain to the Treasury Council](https://forum.badger.finance/t/tcd-104-add-0xghostonchain-to-the-treasury-council/6594)
**Author:** [@1500Badger](https://forum.badger.finance/u/1500Badger)\ **Replies:** 0\ **Last updated:** [March 23, 2026, 7:51pm UTC](https://forum.badger.finance/t/tcd-104-add-0xghostonchain-to-the-treasury-council/6594 "2026-03-23T19:51:44Z")
TLDR; Add 0xGhostOnChain to the Treasury Council. 0xGhostOnChain is a Senior Web3 / Smart Contract Engineer with several years of experience building DeFi protocols, including lending platforms, stablecoins, and aggrega… --- ## [TCD #103 Diversify the BTC flavors of the Treasury holdings](https://forum.badger.finance/t/tcd-103-diversify-the-btc-flavors-of-the-treasury-holdings/6593)
**Author:** [@1500Badger](https://forum.badger.finance/u/1500Badger)\ **Replies:** 0\ **Last updated:** [March 23, 2026, 7:48pm UTC](https://forum.badger.finance/t/tcd-103-diversify-the-btc-flavors-of-the-treasury-holdings/6593 "2026-03-23T19:48:17Z")
Background The Badger Treasury has historically held mostly wBTC as the main choice of Bitcoin flavors on the Ethereum network. Based on available liquidity and the trust model built behind wBTC. Recently, cbBTC has gro… --- ## [TCD #102. Convert ETH runway to BTC](https://forum.badger.finance/t/tcd-102-convert-eth-runway-to-btc/6592)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [January 23, 2026, 5:26pm UTC](https://forum.badger.finance/t/tcd-102-convert-eth-runway-to-btc/6592 "2026-01-23T17:26:15Z")
At the current prices and burn rate, and without tapping into BADGER holdings or TCL holdings, Badger Treasury has about two years of runway. ~4 months worth of runway are converted to USDC per TCD 46 policy, and the re… --- ## [TCD #100. Rebalance the ETH and BTC holdings of the Treasury](https://forum.badger.finance/t/tcd-100-rebalance-the-eth-and-btc-holdings-of-the-treasury/6591)
**Author:** [@1500Badger](https://forum.badger.finance/u/1500Badger)\ **Replies:** 0\ **Last updated:** [January 7, 2026, 8:03pm UTC](https://forum.badger.finance/t/tcd-100-rebalance-the-eth-and-btc-holdings-of-the-treasury/6591 "2026-01-07T20:03:14Z")
Background The Badger Treasury is starting the process of rebalancing out of ETH into BTC with a one time swap of 183 ETH to wBTC bringing the Treasury holdings closer to 1:1 ratio of the two assets. Implementation Swa… --- ## [TCD #101. Q1 Funding](https://forum.badger.finance/t/tcd-101-q1-funding/6590)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [December 23, 2025, 5:36pm UTC](https://forum.badger.finance/t/tcd-101-q1-funding/6590 "2025-12-23T17:36:04Z")
TL;DR Allocate $550k to Q1 funding for ongoing Development and Operations Allocate $17.1k for Q1 Marketing & Discord support Background The main themes of Q4 have been development of the new product’s prototype (which … --- ## [TCD #99: Add Blackbear to the Treasury Council](https://forum.badger.finance/t/tcd-99-add-blackbear-to-the-treasury-council/6588)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 0\ **Last updated:** [November 6, 2025, 4:35pm UTC](https://forum.badger.finance/t/tcd-99-add-blackbear-to-the-treasury-council/6588 "2025-11-06T16:35:37Z")
--- ## [TCD #98. Q4 Funding](https://forum.badger.finance/t/tcd-98-q4-funding/6587)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [November 4, 2025, 5:13pm UTC](https://forum.badger.finance/t/tcd-98-q4-funding/6587 "2025-11-04T17:13:59Z")
TL;DR Allocate $500k to Q4 funding for ongoing development and operations Background The general direction the Treasury Council has taken in Q2 is to deprecate unprofitable products, minimize maintenance costs, and foc… --- ## [TCD #97. Close eBTC CDP](https://forum.badger.finance/t/tcd-97-close-ebtc-cdp/6586)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [September 26, 2025, 6:58pm UTC](https://forum.badger.finance/t/tcd-97-close-ebtc-cdp/6586 "2025-09-26T18:58:52Z")
TL;DR: One of the goals with eBTC deprecation (TCD #88) was to: Make sure that there is enough liquidity available for eBTC users to exit their positions close to peg. With the recent increase in BSM capacity to 10 c… --- ## [TCD #96. Deploy 10.21 + 7.22 WBTC to BADGER/WBTC TCL](https://forum.badger.finance/t/tcd-96-deploy-10-21-7-22-wbtc-to-badger-wbtc-tcl/6585)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [September 26, 2025, 6:47pm UTC](https://forum.badger.finance/t/tcd-96-deploy-10-21-7-22-wbtc-to-badger-wbtc-tcl/6585 "2025-09-26T18:47:07Z")
Per BIP 74: The long-term goal with managing the liquidity is to have at least (-50%; 0%) price range covered at all times. The current state of BADGER TCL is that roughly a 50% price drop is covered, so it’s time to… --- ## [BadgerDAO Cloudflare Subpoena](https://forum.badger.finance/t/badgerdao-cloudflare-subpoena/6584)
**Author:** [@pscoolidge](https://forum.badger.finance/u/pscoolidge)\ **Replies:** 0\ **Last updated:** [September 19, 2025, 3:02pm UTC](https://forum.badger.finance/t/badgerdao-cloudflare-subpoena/6584 "2025-09-19T15:02:54Z")
Dear BadgerDAO Members: I am Peter Scoolidge, Esq., and I represent the DAO with regard to the a subpoena served on the DAO by Cloudflare related to a bankruptcy involving Celsius, which in turn results from the 2021 hac… --- ## [TCD #95 Sell instead of Borrowing for Runway, Close Compound Position](https://forum.badger.finance/t/tcd-95-sell-instead-of-borrowing-for-runway-close-compound-position/6578)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 1\ **Last updated:** [August 23, 2025, 6:49am UTC](https://forum.badger.finance/t/tcd-95-sell-instead-of-borrowing-for-runway-close-compound-position/6578 "2025-08-23T06:49:49Z")
Background Historically, the Treasury’s policy has emphasized maintaining upside exposure of its crypto assets. When the Treasury ran out of Stablecoins, it first reduced the Stablecoin holding requirement from one year… --- ## [TCD #94. eBTC Liquidity Management](https://forum.badger.finance/t/tcd-94-ebtc-liquidity-management/6574)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [August 18, 2025, 6:23pm UTC](https://forum.badger.finance/t/tcd-94-ebtc-liquidity-management/6574 "2025-08-18T18:23:13Z")
Background The current supply and demand dynamics for eBTC are the following. Demand When it comes to upwards price pressure, there are 1.86 eBTC in user CDPs: eBTC info. These positions are net short eBTC, so users wi… --- ## [Treasury Council Decision #92: Remove Inactive Members](https://forum.badger.finance/t/treasury-council-decision-92-remove-inactive-members/6570)
**Author:** [@gosuto](https://forum.badger.finance/u/gosuto)\ **Replies:** 0\ **Last updated:** [August 12, 2025, 9:46am UTC](https://forum.badger.finance/t/treasury-council-decision-92-remove-inactive-members/6570 "2025-08-12T09:46:15Z")
Due to the resignation of both @Juanbug and @saj, it is proposed that we formally remove them from the treasury council and thus from the multisig signers’ set. The threshold should remain the same; i.e. 5/7 instead of 5… --- ## [TCD #93 Add Abdullah to the Treasury Council, Introduce the Builder Cap at 3](https://forum.badger.finance/t/tcd-93-add-abdullah-to-the-treasury-council-introduce-the-builder-cap-at-3/6567)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [August 7, 2025, 9:43pm UTC](https://forum.badger.finance/t/tcd-93-add-abdullah-to-the-treasury-council-introduce-the-builder-cap-at-3/6567 "2025-08-07T21:43:14Z")
Adding Abdullah Abdullah is a Web2 contributor to BadgerDAO who has relevant Multisig experience and has agreed to join the Treasury Council. The proposal is to add him as the fourth active tech signer to the Treasury M… --- ## [BIP 108 - 2025 Community Council Elections](https://forum.badger.finance/t/bip-108-2025-community-council-elections/6565)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 1\ **Last updated:** [August 1, 2025, 2:26pm UTC](https://forum.badger.finance/t/bip-108-2025-community-council-elections/6565 "2025-08-01T14:26:51Z")
Category: Governance (Community) Status: Pending TL;DR; Trantor resigned from the Badger Community Council. The esteemed Humpy, who is the largest known holder of Badger tokens, has volunteered to take his place. Cur… --- ## [To Badger DAO and the Badger Association - Please See Attached](https://forum.badger.finance/t/to-badger-dao-and-the-badger-association-please-see-attached/6555)
**Author:** [@24-03981-mg](https://forum.badger.finance/u/24-03981-mg)\ **Replies:** 5\ **Last updated:** [July 29, 2025, 3:45pm UTC](https://forum.badger.finance/t/to-badger-dao-and-the-badger-association-please-see-attached/6555 "2025-07-29T15:45:07Z")
--- ## [TCD #91. Buy 300k Badger to Hedge TCD #49 Renewal](https://forum.badger.finance/t/tcd-91-buy-300k-badger-to-hedge-tcd-49-renewal/6561)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [July 16, 2025, 6:02pm UTC](https://forum.badger.finance/t/tcd-91-buy-300k-badger-to-hedge-tcd-49-renewal/6561 "2025-07-16T18:02:22Z")
TL;DR: Buy up to 300k BADGER using a maximum of $350k Stablecoins to compensate for BADGER expenditure from TCD #49. Background. Market Making deals, while enhancing the token’s liquidity environment on CEXs, also impl… --- ## [TCD #90: Association transition funding](https://forum.badger.finance/t/tcd-90-association-transition-funding/6552)
**Author:** [@jwei](https://forum.badger.finance/u/jwei)\ **Replies:** 0\ **Last updated:** [June 11, 2025, 2:33pm UTC](https://forum.badger.finance/t/tcd-90-association-transition-funding/6552 "2025-06-11T14:33:56Z")
The association has requested additional funding for the transition work. $55,300 for the transition work $10,000 for treasury council legal payment --- ## [TCD #87 Legal Retainer](https://forum.badger.finance/t/tcd-87-legal-retainer/6548)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 1\ **Last updated:** [June 11, 2025, 2:22pm UTC](https://forum.badger.finance/t/tcd-87-legal-retainer/6548 "2025-06-11T14:22:55Z")
--- ## [Sunsetting eBTC & Legacy Vault UIs - A New Phase for BadgerDAO](https://forum.badger.finance/t/sunsetting-ebtc-legacy-vault-uis-a-new-phase-for-badgerdao/6551)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [June 11, 2025, 2:22pm UTC](https://forum.badger.finance/t/sunsetting-ebtc-legacy-vault-uis-a-new-phase-for-badgerdao/6551 "2025-06-11T14:22:54Z")
TL;DR: eBTC, Legacy Vaults, and remBadger UIs are being deprecated after June 30th. This comes as part of the transition away from using the Swiss Association towards a leaner structure with more focus on new product de… --- ## [TCD #89: Q3 Funding](https://forum.badger.finance/t/tcd-89-q3-funding/6550)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 0\ **Last updated:** [June 11, 2025, 2:15pm UTC](https://forum.badger.finance/t/tcd-89-q3-funding/6550 "2025-06-11T14:15:24Z")
TL;DR: Allocate $550k to Q3 funding for ongoing development and operations. Background The general direction the Treasury Council has taken with TCDs 85 & 88 is to deprecate unprofitable products, minimize maintenance … --- ## [TCD #88: Deprecate eBTC Product and Discontinue UIs for eBTC and Legacy Vaults after June 30th](https://forum.badger.finance/t/tcd-88-deprecate-ebtc-product-and-discontinue-uis-for-ebtc-and-legacy-vaults-after-june-30th/6549)
**Author:** [@Mr\_Po](https://forum.badger.finance/u/Mr_Po)\ **Replies:** 0\ **Last updated:** [June 11, 2025, 2:12pm UTC](https://forum.badger.finance/t/tcd-88-deprecate-ebtc-product-and-discontinue-uis-for-ebtc-and-legacy-vaults-after-june-30th/6549 "2025-06-11T14:12:33Z")
Background State of eBTC After more than a year since launch and with just $3.7M of incentivized user collateral held by the protocol, it is clear that eBTC has failed to achieve product-market fit. The primary reason f… --- ## [TCD #85: Swiss Association](https://forum.badger.finance/t/tcd-85-swiss-association/6547)
**Author:** [@FreddyTheFilosopher](https://forum.badger.finance/u/FreddyTheFilosopher)\ **Replies:** 0\ **Last updated:** [June 11, 2025, 2:10pm UTC](https://forum.badger.finance/t/tcd-85-swiss-association/6547 "2025-06-11T14:10:27Z")
Overview The Swiss Association provides essential technical and administrative services to BadgerDAO. The Association cost structure is unsustainably high relative to the needs and runway of the DAO. To optimize spending… [Next page](https://forum.badger.finance/latest.md?page=1)