Every cryptocurrency other than the Bitcoin has been created inspired by BTC. Therefore, any crypto other than BTC is known as Altcoin.
Jared Tate expressed: “Start with Bitcoin (BTC) and Fly with Digibyte (DGB).”
Rudy Bouwman, Secretary and Vice Chairman at Digibyte Foundation, Co-Founder of Digibyte Awareness team, stated that the value they create in Digibyte are long term and sustainable. The community has a professional approach when it comes to dealing with protocol review and changes. They are thoughtful about their selection of partners. Their connection with corporate enterprises lives up to almost the 2B market cap.
Michelle, DGBAT core member and advisor expressed, Digibyte is at a critical point in its history and growth, as it recently surpassed a $1.5B market cap. DGB offers a peer to peer value discovery framework that is just beginning to take shape in the new digital economy. All hands on deck cause decentralization is our future.
DeFi is already becoming the next big thing in finance. The ability to wrap $DGB to $renDGB has already provided the interoperability with Ethereum’s ERC20 network and DeFi protocols. This is a huge thing in terms of making DeFi possible with DGB.
For clarity for those who do not understand the ability to wrap a coin. Wrapping makes it possible to transfer one coin from one blockchain to another.
The renDGB is a wrap of DGB which is governed by the REN protocol on the Ethereum network. The Eth 2.0 might impact renDGB, but will have no impact on the real DGB.
Thus, anyone who is exchanging DGB for renDGB, will have the coins held in Ren’s wallets, with a 1:1 ratio of issued renDGB to DGB. Thus, users will be able to plug in DGB to the DeFi framework and thus secure loans and earn yield etc. Therefore, DGB is already working for its hodlers for purposes related to DeFi.
So, those who have DGB can wrap it to RenDGB and then stake the RenDGB to earn interest in RenDGB and can further convert it back into DGB.
However, it is important to note that some of them have been having a hard time finding the option to swap and return back from $renDGB to $DGB, but have eventually managed to do so. This, they state, “is about removing your staking Liquidity, then returning to the Bridge and entering your $DGB address there.”
DGB community together are working to provide everything possible on the blockchain network. With DGB having smashed through the $2Billion market cap and touching the new all-time high price, it is really getting traction. Some of them opine that there might be higher gains coming in the near future.
