Gotta get 'em all!
The badge system is in place and can be seen in the Profile page. At the moment there's 1 badge which was awarded to the first 100 people who registered at Grav8. There will be more badges given as a token of appreciation for anybody who's supported with bug reports, translations, feedback, some for reaching certain post counts, and who knows for what else. There will be many badges to earn :)