I have some questions about bDigg and I cant seem to find the answers anywhere.
Can someone please help me with the following:
I bought Digg (and thus got bDigg) 1 hour after launch, so I was early. If I sold my digg/bdigg today, and rebought the same amount of Digg (and got bDigg) today - would I get the same amount of bdigg then, as my original purchase given the price was equal at both times? Even if market cap has increased by 100%?
I understand that bDigg does not rebase. And that it’s “your cut of the pool”. But what exactly does that mean? What is the “pool” - the digg pool or Diggs market cap?
What would the formula for calulating the value of my bdigg be? I assume if would be larger if the total market cap of DIGG was for instance 250million in the future?
If I widthdraw today from the DIGG only pool (not going too - just to understand), what token is then left in my metamask account? Digg token or bdigg-token?
If I widthdraw today, would I then get in usd value what sett.vision say under “protocol balance” ?
Sorry for the noob questions, but I’ve read all over docs and twitter - and I just cant get definitive answers. Any help would be appreciated!!!
You don’t get bDigg by buying Digg, and you cannot sell bDigg.
When you deposit Digg in the Badger DAO app, you get bDigg which represents a share of the overall Digg pool. This pool receives Digg rewards, and the Digg inside this pool also rebases.
The number bDigg tokens you have is always the same, because they represent a share. Now, the value of each bDigg changes (could be worth more or less Digg) because the number of Digg tokens inside the pool also changes every cycle as consequence of the rewards and rebases.
For example, suppose yesterday the pool had 1,000 Digg inside. Suppose you deposit 1 Digg and you receive 1 bDigg. The Digg inside the pool got rewards and also a rebase, so now the pool has 1,100 Digg (grew 10% as consequence of rewards and the rebase).
If you wanted to withdraw your 1 bDigg, you would receive 1.1 Digg back.
So to answer your questions:
No, you do not get the same amount of bDigg. Even if you bought Digg at the same price. This is because, as explained, each bDigg represents a different amount of Digg than yesterday, because the underlying Digg pool received rewards and/or rebases.
I think that has been explained before. The pool is the number of Digg deposited in the Badger app + rewards received and rebases. There cannot be a formula because every day the rebases are different (there could be positive or negative rebases, or none at all). But you can see the amount of the underlying Digg in the Badger app, in Sett.vision and/or in vfat.tools/badger
When you withdraw from the Badger DAO app, you get Digg, not bDigg.
To calculate the USD value equivalent of the Digg you receive, you need to multiply the number of Digg received * current price of Digg.
Trust this answers your questions.
Thank you so much for your help and answer! That makes everything clear!