Currently i believe some of the badge rewards really suck. Here are my thoughts on how they could be improved.
Red badges have no use and just sit in cargo after buying all 4 dominion cannons and the reward for yellow badges really quite sucks.

Yellow Badges:
-Decrease the size of the heist dispatch center to 1. currently it's not really worth even installing in my opinion.
-Add a new stat called troops. These would have two functions. They would increase invasion probability (to what percentage is up to speculation) and would have the best crew-rank point ratio at +5 troops per rank point.
-Add a new reward for yellow badges called "mercenary contract". Costs 40 yellow badges and gives you +30 crew to troops.

Red Badges:
-Add a new reward for them called the Dominion Medal. Proof your absolute superiority in combat. +5 rank points costs 50 red badges.

good idea, +1

The Dominion Medal sounds a bit far-fetched, but the rest is pretty good, especially the heist dispatch centre.
This has come up quite a few times in the forums.

They sound good heheh, if it is implemented, time to start farrming >)

have 324 red badges doing nothing in my cargo, Instant 50 rank points

I'm taking suggestions. If you think that the ratio of red badges for a Dominion Medal is too high then leave a suggestion on how much it should be and supply reasoning.

In fact i have re-though the red badge reward. they should cost 50 instead of 30 to avoid having people farm them to hell and having exponential growth.

IF the dominion medal is awarded, it should provide 2 rank points. honestly, the only thing youre doing is killing other players, and gaining a 3.5-4.0 xp ratio in the process. this would give a boost to beginners who cant get ship bots or prisoners and would allow then some additional growth in the beginning. 50 kills is a good way to earn yourself a small bonus.

+1. But each Dominion Medal should cost progressively more. I.e the first costs 30, the second 45, the third 60, the fourth 75 and so on. No military awards the same medal over and over again for the same thing... except for long service and getting injured... the booby prizes of awards. Not to insult any purple heart winners, but I'm sure each and every one of them would rather not have the medal if it means not having been injured. I know I'd rather not have been shot.