DIGG Launch Parameters

General Discussion
61

I think should have a single side liquidity for the DIGG LP vault.

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62

For sushiswap, I think we can apply for sushi rewards in the sushi community to achieve better cooperation. In this way, LP tokens will have the possibility of platform liquidity rewards and help attract more people.

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63

For airdrops, although the details of the airdrops are not yet known, I think the airdrop awards may cause the initial amount to be too large. Would it be better to release linearly according to the block?

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64

Great points…
One 48 hours
Two idk
Three days no claim should go to staking Badgers or Dao.
Four 2 amm would probably better even if we colab with yearn for a few weeks just to get people involved give options make it easy so on…then move lps to sushi on the other hand 1 amm is just fine too then sushi I guess.
Five we should have chainlink all set up before even starting but if the community decides otherwise I hope the TWAP’s hold strong 2 or 1 idk
My Humble opinion
Cheers Badgers

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65

Hey all, trying to find out more information about Digg as it sounds interesting. I’m from the Ampl community and I will reaffirm some people’s viewpoint that this will go down well with Ampl holders given the similiar rebase tokenomics. Where can I go to find out more? Have I missed the presale/early contributor program?

Thanks all

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66

HI Team,
I have enjoyed this discussion so far.

Some points I want to make:

  • I very much support working with Sushiswap. They’ve been helpful to us and are willing to throw in their own rewards if we work with them. N.b. This doesn’t preclude having a pool on Uniswap too.
  • The Digg pair being renBTC would be welcomed but not integral. I would support this but happy either way.
  • I don’t feel the initial distribution is good. As a reminder this is what is proposed in the original post:
  • 40% BadgerDAO treasury
  • 40% Farming Rewards
  • 5% Founding team
  • 15% Airdrop (including Early Contributor Program)

Given that DIGG is proactively going to generate revenue into the treasury “automatically” I don’t feel that such a large allocation to the Badger DAO treasury is required. I would move it down to 20% and put an extra 10% in Farming rewards (either in high rewards or a longer period) and then another 10% in the airdrop.

On the Airdrop.
I feel incredibly strongly that we should not airdrop outside of the BadgerDao ecosystem. This is a high I will die on. Anyone that wants that sweet sweet Digg airdrop needs to either get involved in BadgerDAO or liquidity mine it.
Within the BadgerDao ecosystem I think we should focus our airdrop on proactive users. I do not believe the Badger Sett should get equal reward to the setts. By weighting the airdrop to those who have gone out of their way to support $badger we are demonstrating that BadgerDao is not a stake and sell protocol.
I would propose the following for the airdrop:
10% Badger Sett
15% Curve renBTC sett
15% Curve sBTC sett
15% Curve tBTC sett
15% Harvest renBTC sett
30% Badger /wBTC LP sett

(DIsclosure - I am mining on Badger Sett, Curve renBTC sett, Harvest renBTC sett and Badger/wBTC LP sett)

16 Likes
67

Don’t think airdrop is a good idea if its to the same people as the first airdrop since alot of people just dumped and ran. Should airdrop to those in the Setts and who hold Badger right now since those are the ones who are actually taking part in the community for the long term

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68

I agree. Do you like my suggestion?

10% Badger Sett
15% Curve renBTC sett
15% Curve sBTC sett
15% Curve tBTC sett
15% Harvest renBTC sett
30% Badger /wBTC LP sett

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69

Thank you very much looking forward to this.

I am less convinced by AMPL model. ESD model seems far superior for a sustainable less volatile stablecoin model…and being integrated into Curve soon. Imagine DIGG in Curve if we were to get it right. Can we please consider ESD model for DIGG.

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70

A staggered airdrop of DIGG would be a good way of showing continuity from the first Badger airdrop. But, this time mix it up with different DeFi platforms that customers used i.e. AmpleForth comes to mind.

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71

As we saw after the end of UNI farming, users and liquidity may shift in no time.

Users don’t shift easily: Uniswap still has 25x more users than Sushiswap.
And the only liquidity that shifts is the excessive, overincentivized, unsustainable one.
Uniswap now has considerably more users and liquidity than before the UNI program.

What I’m saying is:
Presence in the top-10 pairs on uniswap.info is the most efficient user and trader acquisition strategy we can have per dollar spent.

We want people to actively trade DIGG to keep it close to its peg, and Uniswap has by far the largest number of traders we’d like to introduce to our product.

Please keep in mind that I’m not saying that we should only incentivize Uniswap pairs.

I’m saying that the largest targeted liquidity should be on Uniswap.
It doesn’t mean that Uniswap LPs will have bigger DIGG APYs than Sushiswap’s or Balancers. It is somewhat likely to be otherwise.

From the ecosystem development perspective, we do introduce new users to Sushi and Balancer with this program no matter what % of supply we distribute towards the specific pools.

So it’s not choosing one project over the other; it’s a win-win situation.

People can get to know about DIGG from uniswap.info, go to check out the Badger app, and see that the best APY they can get is on Sushiswap - and go there.
Or they can find out what Smartpool on Balancer is, and choose to mitigate the risk of impermanent loss they’re getting.

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72

We’ve talked about this quite a bit and agree the model today (v1) will probably change for v2. I too am a fan of ESD bond/coupon structure and support exploring how that could look like for us moving forward.

There is something to be said though about creating a product that is able to garner tons of liquidity, have first mover advantage and drive a significant increase in users to the community.

That’s what I think we can do with DIGG in it’s current form. By having vaults we can take a clear market leading position and optimize the demand/supply of our asset.

Just the beginning!

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73

Thanks I know it is too late to impose such a radical change for something released next week.

Having a DIGG/renBTC/wBTC pool on Curve would be an incredible accomplishment and step towards DIGG becoming alternative to renBTC/wBTC.

Only possible for ESD model I believe which has stablised impressively in last few weeks and the upcoming ESD pool on Curve will be proof of that.

So if DIGG (AMPL v1) somehow migrates to DIGG (ESD v2) maybe that is route.

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74

Just to add to the weight of feeling. A Digg/renbtc/wbtc/sbtc curve pool would be a massive win for us.

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75

I’m agreeing with this. The original airdrop was incredibly fair and far reaching and I believe it served it’s goal to gain a dedicated user base that is aligned with the BadgerDAO ecosystem.
There will ALWAYS be some community that will feel left out from the original drop, lets not go down that road as its already done. Working with other projects can be in the form of future collaborations.

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76

For now two suggestion. Don’t mention airdrop, call it reward. Airdrop is to negative and introduce a bad era of ico. Also always say launch 20 12 2020 UTC XX XX XX. Timezone is a bitch.

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77

  • When to start the rebase? - We should start from the get go to ensure a level playing field and get folks used to this pattern. The rewards (and airdrop) should take much of the edge off the volatility.

  • Do we have a single side liquidity for the DIGG LP vault? (ie add wbtc and the vault sells 50% for DIGG and puts it into the LP position for you ) - no opinion on this one since I’m not informed enough right now to comment productively.

  • Wha*t happens if a users DIGG sits in the reward tree for days before being claimed? How is this properly distributed if the supply increases or shrinks during that time? Unsure of the technical challenges but its starts where it starts and the value and the number of DIGG changes with it. It just requires an FAQ or informational bit about that potential to all the folks airdropped to which makes limiting it to just the Badger community more appealing since they might be better informed.

  • Do we launch with multiple AMM’s or 1? KISS is my usual go to so we go with a max of 3, Sushi and UNI for sure. If a third is necessary or wanted ( I do with the Balancer Smart Pool) I would fund the rewards on that LP at a lower percentage.

  • If we don’t have a decentralized oracle prepared for launch is it then critical to have 2 liquidity pools (UNI and Sushi for example) to leverage multiple TWAP’s for additional protection? Yes at least two, this at a lower funding level would be my preference.

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78

Could this be done as the old method of airdrops instead of the claim style? Literally drop it into the various wallets and have the treasury pay for gas.

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79

have definitely been thinking about how DIGG could transition to a state similar to ESD (exact coupon/risk isolating mechanics obviously TBD) long term. Ideally v1 will be a good bootstrapping mechanism and we can roll out stabilizing mechanisms over time.

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80

I think it overall is better to roll out this option as part of a general UI/UX update.

For example, we could have a page in the app that is a one-stop-shop for everything BTC on ETH related:

  • You could swap/mint your BTC for whatever form of wrapped BTC you like
  • You could deposit it to whatever Sett you like directly.
  • You could swap between different types of BTC easily

Then it maybe would be good to classify the Setts by the risk involved. Maybe just by using color schemes.
So that people understand that when they deposit their BTC to the Curve pool sets, the volatility risk is minimal. So 99% of the time when you deposit your BTC there you get out with slightly more than you deposited.

DIGG is more of a speculative asset, so getting more WBTC out than you initially deposited is not guaranteed.

That’s why I think that introducing this option in the same line as other current products might cause confusion. Especially if we use the same APY displays for them.

I think it should be more of a service than “an investment option” like Setts.

And the way it’s presented is key in my opinion.

3 Likes