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Story of the Day


New Crypto Releases: DIGG

DIGG, BadgerDAO’s synthetic rebasing Bitcoin

Last week, after receiving so much excitement on Twitter with “wen DIGG” memes, DIGG, BadgerDAO’s long-awaited synthetic rebasing Bitcoin, was finally released. To ensure a fair and flat launch, BadgerDAO set up a unique distribution. Jon Tompkins, core BadgerDAO contributor, and distribution architect explained that Badger DAO used a “formula centered on an Ethereum address’ activity in the BadgerDAO app” to determine the “amount of claimable DIGG for each eligible account.” This formula took into account “[f]actors such as total native platform Badger tokens earned, the Badger earned to Badger staked ratio, and total stake days were taken into consideration.”

As the first synthetic rebasing Bitcoin, DIGG uses a vault system to allow users to “hold the core asset in anticipation of a positive rebase, or sell the tokens on the open market.” Other exciting features of DIGG include utilizing DIGG to “provide liquidity to DIGG/WBTC Sushiswap and Uniswap pairs, hold the core asset in anticipation of a positive rebase, or sell the tokens on the open market.”

gamestop news

Crypto Goes Mainstream? The rise of GameStop and why GameStop investors should turn to Bitcoin

On Tuesday, GameStop stock closed at $147.98 after selling at $18.47 near the end of 2020. GameStop stock is now over $220.00. This sudden rise in stock prices is attributed to a group of Redditors called the r/WallStreetBets. According to William LeGate, Bitcoin holder since 2013 and CEO of PredIQ (a decentralized prediction market), this group’s actions were “driven by the resentment the vast majority of Americans hold towards Wall Street & the banking system as a whole.” These sentiments align with Bitcoin’s original purpose, as “BTC was a technological achievement meant to solve double-spending on peer-to-peer digital cash networks.”

Michael Burry, a large GameStop investor, and others point out the imbalance of the system asking: “Is pumping up an asset’s price only legal when Wall Street traders do it?” LeGate surmises that “[the bankers] won’t like that the ‘wrong people’ are manipulating the markets and will lobby the SEC to take action against retail investors.” When this happens, he suggests that these GameStop investors turn to Bitcoin to be able to continue making a profit while aggravating Wall Street.

chamath Palihapitiya image

Palihapitiya, long time Bitcoin investor, plans to run for California Governor

In a tweet on January 26, Chamath Palihapitiya, billionaire businessman and CEO of venture capital firm Social Capital, seemed to signal plans to run for the position of California governor in 2022. He has also joined forces with a number of Californians who want to recall Governor Newsom’s vote, implying that would consider running in a special election later this year. Many Californians hold Governor Newsom responsible for “inconsistent shutdowns and a slow-moving Covid-19 vaccine rollout,” and are not happy with him.

Palihapitiya is known for his long time history in Bitcoin, having invested in 2013, and remained in Bitcoin since then. In an interview, Palihapitiya said that “he sees Bitcoin as insurance against economic uncertainty and that its price could soar to $200,000 over the next five to ten years.” In regards to his new gubernatorial aspirations, Palihapitiya claims that he aims to sustain California’s reputation as a “leading technology hub.”

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