Badger Improvement Protocol (BIP) has disclosed that Badger DAO (BADGER), the decentralized finance platform is interested in migrating to a new website. There was voting conducted in a governance listing and the Badger community decided to get a new home for the DAO i.e. decentralized autonomous organization, which will be known as Badger.com. Chris Spadafora, the founder of BadgerDAO, discussed the potential benefits of this move from the increasing Badger family. He said that the new domain would come in handy for solidifying the Badger brand and it would help it become a trusted Bitcoin trade place.
Spadafora said that Badger.com would help in increasing the value across different categories, such as referring websites, daily traffic, search engine optimization and a number of other growth metrics. He said that the DeFi project would have to pay a whopping $300,000 for the targeted domain name, as opposed to the $500,000 price tag that domain brokers had quoted for it. He said that since the Badger.com site was a lot more cost-efficient for them, the domain had been purchased by a fellow community member by the name of Arben Kane through his personal connections.
Kane had bought the domain with the intention of transferring its ownership to the Badger community. Spadafora disclosed that Kane was willing to do this without any extra markup and was just interested in the USDC stable coin from the treasury. The founder said that one of his goals had always been to expand the overall BadgerDAO brand in order to deliver an excellent user experience to the non-native crypto users who might be visiting the website for the first time. Other than that, the domain name would also be helpful in eliminating the common stigma that has been associated with the crypto industry.
He highlighted a recurring challenge that’s being faced by the entire crypto industry as a whole; trust. The increasing number of malicious attacks and crypto scams put off a lot of traditional investors. Bad actors and scammers have proliferated the nascent space and have made it extremely difficult for investors to identify a genuine DeFi project with ease. While millions have been invested in the BadgerDAO platform, the community is still in need of additional capital for funding its operations because it doesn’t have the status of a legal entity and cannot conduct any transactions for generating funds.
Changing domain names has gradually become a trend in the blockchain industry. Sushiswap, which is a spinoff of the renowned decentralized exchange Uniswap, had received the domain name sushi.com from Future Fund. The deal had cost a reported $1.9 million, but the switch in the web URL had also boosted the network traffic significantly. The CTO at Sushiswap, Joseph Delong, said that it had been a well-timed and appropriate gift. In a tweeted threat, Delong shared that the new domain name had helped the brand get more recognition than before.
As Badger DAO has also been making some strategic moves in the industry, the domain name would certainly be helpful.
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