Wen DIGG? BadgerDAO’s Bitcoin rebasing token seems on chain

 Wen DIGG? BadgerDAO’s Bitcoin rebasing token seems on chain


Badger DAO has been one of many most-talked-about DeFi protocols over the previous few months.

The yield-farming protocol kicked off with a bang in the beginning of December when it distributed free BADGER tokens to hundreds of DeFi customers. Many offered it, although others held the airdrop.

Badger DAO, which was launched as a yield farming protocol to permit customers to earn a yield on their tokenized Bitcoin, seems to be broadening its horizons, although.

The challenge launched with the premise that it will launch a secondary token referred to as DIGG, which might be an Ampleforth-based token that rebases to the worth of 1 Bitcoin. Because the sub-site for DIGG reads:

“Digg’s rebase of provide is distributed on a ten day rolling interval, based mostly on the route Bitcoin worth is transferring, it may be used to hedge towards a recognized enhance or lower in BTC worth.”

After weeks of anticipation, it could lastly be right here.

Wen DIGG?

DIGG seems to be proper across the nook.

On Sunday, Badger DAO launched an in depth Twitter thread outlining this new section of the protocol.

The thread indicated that there will probably be 600 DIGG airdropped from the get-go to customers of the Badger DAO utility. 3,400 DIGG, which is the remaining provide, will probably be distributed sooner or later by way of different mechanisms like liquidity mining.

Liquidity mining will happen by way of a brand new yield farming mechanism referred to as bDIGG, swimming pools with SushiSwap, amongst different mechanisms.

Additional indicating that DIGG is true across the nook, traders famous that an tackle affiliated with the Badger DAO workforce revealed a sensible contract creating a brand new token referred to as DIGG.

Buyers now suppose the launch is ready to reach within the coming two to a few days.

What traders are additionally enthusiastic about is the introduction of a U.S. stablecoin that’s collateralized solely by yield-bearing Bitcoin property, comparable to the prevailing Badger DAO Vault tokens.

Ought to this method be applied, customers will be capable of use a U.S. dollar-based stablecoin within the DeFi ecosystem however will nonetheless be capable of preserve publicity to a yield-bearing spinoff of Bitcoin.

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