🪙BADGE

BADGE is the native gas token for the BitBadges blockchain. Please read our policies (including our BADGE disclosure) on our site for full disclaimers and information.

BADGE has 3 primary purposes:

  1. Gas / Transaction Fees

  2. Proof of Stake/ Governance - Validators bonding BADGE for the security of the network via staking.

  3. In-Site Currency - Although note that we will prioritize others like USDC and other more established ones for in-site use.

  4. 0.1% Taker Fees on all transactions go to community pool

Distribution

For current distributions, supply, and more, we refer you to our explorer: https://explorer.bitbadges.io.

Relevant addresses for undistributed BADGE are:

  • bb1kx9532ujful8vgg2dht6k544ax4k9qzsp0sany

  • bb1akp5qudlhyp08m4k6826hn8mhqwmely6xvr7t2

BADGE is listed on Osmosis at https://app.osmosis.zone/assets/BADGE and compatible with other IBC-enabled services.

Excluding block rewards, the initial circulating supply of BADGE was 100M.

Alternative Chain Deployments

BitBadges plans to pursue deploying our standard on other chains. BADGE also does not apply here. BADGE is the gas / governance token for the BitBadges blockchain only. Although when exploring agreements for deploying on other chains, we will strongly consider BADGE holders in any licensing agreement.

Security Model

We do recognize that without a sustainable revenue model going back to BADGE holders for the short term. This is typically not adequate financial value to secure a proof-of-stake network. This is why the quality of validators and allocations is very important for our blockchain.

Couple notes on our approach to this:

  • In the short term, BitBadges still controls a large amount of the supply (>50%+) and operates on a more centralized governance at the moment, simply due to the fact that we have almost enough voting power to make any proposal pass.

  • BitBadges, at the time of writing this, currently has ~70 validators. Almost all are experienced in Cosmos and are validating other networks. The quality of validators is very high at the moment.

  • Moving forward, we will look to adopt a Know-Your-Validator approach as we see fit. We will decentralize through allocations to trusted validators.

In other words, treat BitBadges as much more of a proof of authority chain at the moment.

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