BadgerDAO will work in partnership with UMA to extend the Rebase Mining event. The Phase 1 started on the 13th of May and integrated adapted drop criteria which will reward buyers and holders over longer periods of time. The Rebase Mining was planned as a one time event and unfortunately failed to unlock any rewards in the 30 days period. In the preparation of the event, the DIGG had two weeks of positive rebases. After the launch, it failed to overcome the market crash. UMA joined BadgerDAO for the Rebase Mining perpetuity, starting with 1st of July. The BadgerDAO initial strategy remains unchanged, adding UMA's KPI options to harness incentives.
Two areas of the Rebase Mining - Phase 1 were adapted to ensure that new rebase mining will be successful regardless the market conditions and crypto volatility.
Phase II Updates
The rebase mining system reward distribution requires five or more positive rebases during the 30 days to unlock. Each rebase that occurs afterwards the required five, will increases the percentage shared. The Phase II started on the 1st of July, and will refresh month over month.
The remaining funds from the pool will be allocated to the next mining period. The KPI Snapshot 1 will share 60% of the options at the start of the event, using data from the previous event to apply multipliers. Those who sold less than a quarter of their bDIGG stash will have multiple applied to their stash. The users that sold more than 25% will carry over the KPI with no multiplier while those that sold their full stash of bDIGG will receive no reward.
The Second Snapshot will allocate 35% of the KPI during the event. Check rebase mining on DIGG Finance and behold the power of UMA.
Badger DAO is a DeFi ecosystem where projects and crypto-enthusiasts will work in partnership to build new crypto products. The unique shared ownership in the DAO will allow builders to have aligned incentives while decentralized governance can ensure those incentives remain fair to all parties. This concept came from Chris Spadafora's beautiful mind. He is the Nick Kyrgios of crypto, the Badger "Godfather" and the operations lead for the project.
Every decision will include a vote, because Badger was born as a DAO. The whole framework was created to be fair and to involve everyone. The $BADGER holders can create new proposals, which have to pass three stages of voting before approval. When approved, the proposal will move to the operations team, which will collaborate with the community to build, fund and market the new idea. SETT was the first product created by Badger DAO, an automated DeFi aggregator focused on tokenized BTC assets and is the only way for people to earn $Badger.
What is $DIGG?
DIGG is second product created by BadgerDAO, a non-custodial synthetic Bitcoin build on the Ethereum chain. DIGG is an elastic token pegged to value of Bitcoin's, leading to automatically adjustments across all wallets.
DIGG's aim is to remove the need of CeFi entities for Bitcoin custody by providing a product with elastic parameters. The supply and demand system will help DIGG to maintain the peg, as the oracles will rebase the price daily. DIGG... DIGG... DIGG ... Welcome to the Badger Family!
DIGG will maintain an elastic supply across all wallets holding the token. The token is non-dilutive, meaning that the holder will always own the same percentage of the supply, no matter how many rebases will take place.
How to join the superUMAns?
All you have to do to become a superUMAn is show up and dive in! Come join us on Discord in the superUMAn lair. Whatever your talents are, we can put them to good use! There is always room for another superUMAn.
What is a superUMAn? SuperUMAns are the community’s ninja troops. SuperUMAns are the people who bring the community to life.
Who can become a SuperUMAn? SuperUMAns come from all walks of life. Anyone can become a SuperUMAn and bring his contribution to this amazing community. Any skill, background and education is welcome!
What do superUMAns do? SuperUMAns are having fun! The UMA community environment is fundamentally a place for friends to enjoy the thoughts and energy of other superUMAns. On a more serious note, superUMAns are an indispensable component of the machine that helps UMA reach the greater DeFi community. SuperUMAns are writing articles, making videos, funny content, design swag, hold community calls, are looking for collaboration opportunities, help teaching people about UMA, support other communities, etc!
The superUMAns Library:
SuperUMAns #1 - AMA about UMA with Hart Lambert!
SuperUMAns #2 - Explaining UMA KPI Options
SuperUMAns #3 - UMA scaling on Polygon
SuperUMAns #4 - What is fCASH by Harvest Finance?
SuperUMAns #6 - How to become a superUMAn!
Understanding BadgerDAO and $DIGG
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