DIGG is an elastic rebasing token pegged to BTC, and governed by BadgerDAO. Every day at 3PM, the supply of DIGG expands or contracts to put supply side pressure to move price action accordingly.
This chart shows the calculated USD price of DIGG vs that of BTC. You can see an initial run up to $80K following launch, as well as a subsequent dump well below the BTC price. In early Feb, as BTC was making new ATH, DIGG once again outpegged BTC, perhaps due to individuals front-running a possible six-figure BTC price. DIGG then started dumping around Feb 14th.
Currently, DIGG is trading at a steep discount to wBTC. We have been accumulating our DIGG rewards and staking them (for ~150% APY currently) in anticipation of a return to the BTC peg. DIGG has been selling off, mainly, we believe because of the BTC selloff, but our prediction is a resumption of the BTC bull run or new ATH would spur additional interest in DIGG tokens, and return to price parity with BTC.
digg.netlify.app/elastic
UNISWAP:WBTCDIGG
This chart shows the calculated USD price of DIGG vs that of BTC. You can see an initial run up to $80K following launch, as well as a subsequent dump well below the BTC price. In early Feb, as BTC was making new ATH, DIGG once again outpegged BTC, perhaps due to individuals front-running a possible six-figure BTC price. DIGG then started dumping around Feb 14th.
Currently, DIGG is trading at a steep discount to wBTC. We have been accumulating our DIGG rewards and staking them (for ~150% APY currently) in anticipation of a return to the BTC peg. DIGG has been selling off, mainly, we believe because of the BTC selloff, but our prediction is a resumption of the BTC bull run or new ATH would spur additional interest in DIGG tokens, and return to price parity with BTC.
digg.netlify.app/elastic
UNISWAP:WBTCDIGG