BIP 47: Funds for Honeypot pt II

Category: Treasury
Scope: Approve 10 DIGG to be used from the treasury for the redemption pool in MEME Honeypot pt. II: Diamond Hands.
Status: Accepted

Overview

Requesting the use 10 DIGG out of the ~50 DIGG that went unclaimed from the original DIGG drop to be added to the DIGG vault and add the resulting bDIGG to the redemption pool. Only bDIGG holders will be able to stake to mint the NFTs that will be used to redeem the assets from the pool so only bDIGG holders will get the first attempt to claim the bDIGG in the pool.

Details

The larger the pool the more each NFT will be able to be redeemed for and the more exciting and effective the game. With rooted uncapped staking pools, if the NFTs have larger redemption value it should create a strong demand to stake a lot of bDIGG. Badger will also be receiving a portion of every NFT resell, and since they will trade as a bDIGG analog it will be an opportunity to earn diverse assets (ETH, USDC, MEME) through transaction fees.

Approve 10 DIGG for Honeypot pt. II Redemption Pool
  • Yes
  • No

0 voters

3 Likes

is a good good good idea

2 Likes

Simple, effective, clear benefit. Great BIP. Totally in support.

1 Like

I approve 10 but it should be more

3 Likes

Why only 10 Digg if we have 50 available …?

1 Like

Looks like a good strategy to help support DIGG stabilization. Will a portion of the transaction fees go to fund the MEME HoneyPot? That would be nice.

1 Like

It’s 10 or 0 ?

Can we vote for more ? any plan to use the 40 left ?

Lets do this!! This will be very fun! *the game may never END.

Yes from me, makes total sense.

1 Like

@Reem @bajja id be down to increase, just might not be time to re-vote. also just want to be somewhat careful because the redemption contract is new. There isnt anything stopping us from adding more to the redemption pool if we want though. Also i need to check but the 50 DIGG was 50 at the time of drop clawback and will likely be less now after the negative rebases

4 Likes

I would vote for more if i could.

This needs to be increased. There’s going to be an infinite stalemate and no one is ever going to redeem. Not that that is necessarily a bad thing.