Liquidity providers deposit funds into BadgerDAO and receive a return on investment (supply-side fees).

BadgerDAO is an asset management protocol built on Ethereum. BadgerDAO was co-founded by Chris Spadafora, Ameer Rosic, Albert Castellana, & Alberto Cevallos, and launched in September 2020.

BADGER tokenholders own and govern the protocol. They currently take a cut of the total return on investment & total assets under management paid by liquidity providers (revenue).

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BadgerDAO

# BadgerDAO Maximum token supply Methodology

## 1. Overview

The BadgerDAO maximum token supply metric represents the predetermined maximum number of BadgerDAO tokens that can ever exist according to the protocol's tokenomics design. This is a static reference value of 21,000,000 tokens that was established at the protocol's launch on December 3, 2020. The metric provides a constant baseline for calculating metrics like token supply utilization and helps establish the theoretical upper bound for BadgerDAO's token economics.

## 2. Data sources

- **Protocol specifications**: BadgerDAO's predetermined tokenomics design and maximum supply allocation
- **Token contract specifications**: The hardcoded maximum supply limit defined in the protocol's token contract design
- **Launch documentation**: Official protocol launch date and initial token distribution parameters

## 3. Step-by-step calculation

### Component A: Static configuration setup
- **Purpose**: Establishes the fundamental tokenomics parameters for BadgerDAO
- **Logic**: Sets the protocol launch timestamp to December 3, 2020 at 00:00:00 UTC, defines the reporting granularity as daily intervals, and establishes the maximum token supply as exactly 21,000,000 tokens based on the protocol's predetermined tokenomics design
- **Key fields**: `timestamp` set to launch date, `timestamp_grain` set to day-level reporting, `token_supply_maximum` set to 21,000,000

### Final aggregation
- **Combining components**: No aggregation is needed as this is a single static value
- **Currency conversion**: Not applicable - this is a token count, not a monetary value
- **Time aggregation**: The value is propagated forward from the launch date using a fill-forward strategy, meaning the same 21,000,000 maximum supply applies to all reporting periods
- **Final calculation**: The metric simply returns the constant value of 21,000,000 tokens as the maximum possible supply for all time periods from December 3, 2020 onward, formatted through the standardized metric finalization process to ensure consistency with other Token Terminal metrics

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

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Maximum token supply

Maximum token supply

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