BIP 92: Digg Restructuring

TLDR:

This BIP makes 3 fundamentally important changes to DIGG tokenomics:

• DIGG / BTC Exchange Rate: Transition to Free-Floating Exchange Rate
  • DIGG will be transitioned to a free-floating token and any peg to BTC will be driven completely by market forces.
  • All re-basing of DIGG will be stopped
  • Support for the wBTC/DIGG vault and all external LPs will end
• remDIGG Exit Strategy: Provide exit strategy for remDIGG holders
  • The treasury will mint enough DIGG to allow for the 1:1 exchange of remDIGG (~53) for DIGG
  • DIGG will be airdropped to remDIGG holders 1:1
  • After the airdrop, support/boost for remDIGG will end
• DIGG Yield/Boost Strategy: Replace DIGG emissions with extra BADGER boost
  • Stop all emissions of DIGG as yield
  • DIGG in a wallet, bDIGG in a wallet, and DIGG in a BADGER LP will count for Boost as defined below
  • remDIGG will not count for boost because it will receive a 1:1 airdrop of DIGG as explained in #2 above
  • DIGG will be valued at BTC peg for purposes of boost (# DIGG * BTC Price = DIGG Boost Value).
  • DIGG token contribution to boost will be limited to the total USD value of an addresses BADGER, remBADGER and BADGER NFT
  • Based on these changes, DIGG Boost Value = (BADGER/remBADGER/BADGER NFT Value + (# DIGG * BTC Price) up to the value of BADGER/remBADGER/BADGER NFT

Forum discussion: https://forum.badger.finance/t/bip-92-digg-restructuring-v3-revised/5653