DIGG Launch Parameters

[volt46]

@jonto

would your suggestion then be to do a rover with DIGG? do they have any rovers that are also rebasing assets or would we need to lock it in a contract and do an erc20 representation? Definitely something we could put to the community to include or just use some of the DIGG treasury for if we think it will be good for the project. Also need someone sufficiently based to submit it.

based @jonto

Ultimately launching a rover would be most based yes. There are 3 ways to deploy a rover, not sure if rebase is a problem, you might want to look here : rovers/RoverDocs.md at main · Mwisah/rovers · GitHub

For the founds it will work either way, you can count on me to help moving fwd

[Kris2f]

Thanks for initiating this forum discussion regarding $DIGG token launch, @jonto!

@jonto

Initial setts that will earn $DIGG:

• All current Setts
• DIGG/WBTC (Sushiswap w/ recursive SUSHI staking)

Other possible Setts
availability for launch dependent on complexity/resources to build

• Uniswap DIGG/WBTC LP
• Balancer smart pool (fork of https://link.medium.com/vxssOWUF5bb )
• Balancer overweight (80/20 WBTC/DIGG) LP
• Rebalancer Sett (sells on positive rebases, buys on negative, still being scoped)

I have been advocating to launch the liquidity of this token on Sushiswap and/or Balancer. I understand Uniswap is the most widely used DExs on ethereum network, yet, there’s no incentive if we launch it there. With Sushiswap and Balancer, impermanent can be mitigated with availability to farm $SUSHI and $BAL tokens. I also support that if we launch it on Balancer, we should do the Smart Pools right of the bat and do 80:20 ration in wBTC<>DIGG pair.

@jonto

Dont drop/reward tokens to folks outside of the badger ecosystem (folks seem fine with founding team and early contributors getting some but most of any drop should go current users of the setts).

Agreed. Outside BadgerDAO ecosystem, unnecessary airdrop should not be considered. We shall prioritize the folks that are currently using our Setts (vaults). Also, I’m liking the same mechanism of $BADGER hunt’s clawback. This way, we maximize any unclaimed $DIGG tokens from those that have exited the BadgerDAO ecosystem already, yet, still get the airdrop. Send it back to a community pool where we vote via $BADGER tokens for more additional airdrop for BadgerDAO ecosystem or return it back to Digg treasury when we can use it to reward future liquidity mining emissions.

Should there be a consensus as what parameters the community signals interest, kindly make a pool to make these arguments official. Thanks.

[Kris2f]

@Spadaboom

What 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?

From my experience, Chris… rebasing is universal. Ampleforth’s rewards from Beehive are constantly changing via supply adjustment due to rebasing. You can literally see any unclaimed reward expanding and contracting depending on supply adjustment.

[CV8]

Hi, getting new users of DIGG from outside BadgerDAO by giving them an airdrop. I have turned into a very interested user of most aspects of Badger and have only come here as I was notified about the initial badger airdrop. Then when I saw what was going on and how good the community is, I had to get more involved.

Even if we dropped the airdrop ratio to non BadgerDAO people. I am sure we would get more attention. Is there someway we can put a time limit that a user must hold the DIGG before it can be sold/swapped?

Cheers

CV8

[Mr_Po]

I’d like to provide some data that might be used as a benchmark in defining the distribution ratios.

Recently AMPL launched three incentivized liquidity pools on Uniswap, Sushiswap, and Balancer.

Judging from their current APYs and liquidity in the pools, they distribute the rewards in the following way:

• Uniswap - 69.2%
• Sushiswap - 6.3%
• Balancer - 24.4%

At the moment, ETH-AMPL is the 11th pair in liquidity in Uniswap, close to 10th, and top-8 by volume.

The volume to liquidity ratio is 2.5-2.7x higher for AMPL-ETH on Uniswap than in other pools.

The APYs for liquidity providers are quite similar among the pools.

[GoodeWoode]

Very good idea to be honest, would be interesting leveling the playing field this way.

[volt46]

@Kris2f

I have been advocating to launch the liquidity of this token on Sushiswap and/or Balancer. I understand Uniswap is the most widely used DExs on ethereum network, yet, there’s no incentive if we launch it there. With Sushiswap and Balancer, impermanent can be mitigated with availability to farm $SUSHI and $BAL tokens. I also support that if we launch it on Balancer, we should do the Smart Pools right of the bat and do 80:20 ration in wBTC<>DIGG pair.

On the same page yes, sushi and balancer pools are good though with sushi just making move to implement Onsen, might not be available for couple of days/weeks. Balancer always a good choice imho.

@jonto

do they have any rovers that are also rebasing assets or would we need to lock it in a contract and do an erc20 representation?

Got note that rebasing isn’t supported inside Rover. Idk about erc20 representation of $DIGG, might be a work around… Easy alternative would be to use $badger.

[Dinhtienhai]

I agree with you

[fabiotongson]

[yvv]

on the airdrop side ,but how to do measure , who get most more if everyone is staking on the badger sett, because it might cause a sudden buy and stake it in to get reward

[faustas]

To preface this I did not sell a single badger. I actually bought some to add to wBTC LP.
That said I disagree with the notion that people who sold their airdrop are somehow less worthy of DIGG distribution. The whole idea behind BADGER distribution is to incentivise users that have aligned incentives (gitcoin donors), are active participants in governance (yfi, sushi voters etc) or are otherwise savvy enough to have been playing around with DeFi. In addition to that there is some degree of Sybil resistance in this type of distribution as to receive max airdrop would require to have performed all these numerous actions prior to announcement on different wallets.

1. I for one haven’t inspected each wallet that received BADGER airdrop > sold and thus do not know what percentage of users did that. Do you?
2. DIGG distribution that would lean heavily towards LPs seems to go in the opposite direction of the design of BADGER distribution (which was great IMO)
3. SBF and the like farming with millions and dumping on everyone is more likely than all the small fish users that the BADGER distribution clearly targeted.
4. Some would sell some wouldn’t that is their right, they sell to potential holders - distribution continues… tokens get into the hands of people that give a shit…
5. If whales want it, they can buy it on the market, seems like a plus to me
   Thanks for reading

[shanshan]

The main battleground will be Uniswap, at least for now the most popular decentralised exchange by traffic. In addition, a portion of the airdrop, such as 5%, can be used for private placement (a maximum of 0.1 WBTC per person), raising all the funds into the pool and permanently locking up the initial liquidity. A few days before the presale,there will be a lot of people interested and actively participate

[wise14life]

Can we please get an update did DIGG lunch as scheduled?

[cryptoyieldinfo]

I think that is changing fast. Everything decent is moving to SUSHI.

SUSHI is also linked to YFI.

I anticipate BADGER will soon be linked with the YFI ecosystem also.

I’d argue SUSHI is a better choice than UNI for targeted liquidity.

[cryptoyieldinfo]

You have to be very careful with fairer balancing of airdrop to smaller stakers.

Remember SNOW did this and almost collapsed as a result. There will be false accusations of team splitting across wallets etc.

[prvyo]

There’s been a lot of great discussion on how the distribution should and should not look like and overall there’s some agreement on it more or less. I’d leave the distribution up to the team now as I believe they have a trust of most of us and also team should keep it secret so that it’s not played.

[Jahtalous]

I feel strongly that we should airdrop outside the BadgerDao ecosystem and copy the same line for the first airdrop. The reason, some people may have missed the first airdrop. Then learn more about Badger and is willing not to miss the second. This will not only show that Badger is not a closed-in ecosystem or not allowing new users to join, but they are a sharing ecosystem where everyone is welcomed. Because, if we all believe that DeFi is for everyone, then opening the airdrop to all will show this.

[safefarmer]

+1 with only allocating to users of setts. We should embrace the current community first, and let it organically grow from here (without airdropping randoms).

[DeCharlie]

Interesting, I will read up on the SNOW situation. I would like to see what the parameters were for distribution.

[prvyo]

They communicated like 2 weeks in advance that every wallet swapping over $1k will receive airdrop…