DIGGPrice

(DIGG)

DIGG is a decentralized, non-custodial synthetic Bitcoin project launched by Badger DAO. It was originally designed as an elastic-supply token, often referred to as a rebase token, that lived on the Ethereum blockchain. The primary objective of the project was to create a decentralized alternative to wrapped or custodial versions of Bitcoin, allowing users to use Bitcoin-pegged assets within the decentralized finance ecosystem without relying on a central authority. In its original design, DIGG maintained its value relative to Bitcoin through a mechanism called rebasing. This process automatically adjusted the total supply of the token across all wallets at a set time each day. When the market value of the token was higher than the value of Bitcoin, the protocol would perform a positive rebase, increasing the number of tokens in every holder's wallet to incentivize selling and bring the price back down. Conversely, if the market value was lower than Bitcoin, a negative rebase would occur, decreasing the number of tokens in wallets to reduce supply and encourage the price to rise toward the target. As a project governed by Badger DAO, DIGG is controlled by a community of token holders who vote on its parameters and future direction. This governance model allowed the community to introduce various integrations, such as specialized vaults where users could deposit their tokens to earn rewards or interact with other protocols. One notable innovation within the ecosystem was the introduction of a non-rebasing version of the asset, which allowed the token to be more easily used in other decentralized applications that do not support changing wallet balances. Over time, the project evolved through community governance decisions. Recent developments indicated a shift in the protocol's mechanics, where the community voted to move away from the active rebasing model. This change transformed the asset into a more traditional floating token, though it remains deeply integrated into the Badger DAO infrastructure and its mission of bringing Bitcoin utility to decentralized networks. The project serves as an example of an experimental financial primitive that tests how supply-side adjustments can be used to manage asset value in a decentralized environment. Learn more

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