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Piggybank
1.“Once DBONDS are emitted, does the Piggybank stop printing $DIBS until we are above peg again?”
Staking $DSHAREs will give you $DIBS rewards when the price of $DIBS is above the peg (1000 DIBS : 1 BNB), but not when it is under the peg.
2. “What happens if I interact with the Piggybank in any way?”
Any interaction with the piggybank will reset both timers. That's 3 epochs (18 hours) to withdraw your DIBS rewards, and 6 epochs to unstake your Dshare (36 hours).
3. “Are the Piggybank rewards pro-rated by time? I.e if I stake three hours before the end of an epoch vs five hours before the end of an epoch, do I get different rewards?”
No, it's determined by how much you have staked at the time of printing (i.e. end of one epoch and start of the other). It doesn't matter if you stake 3 hours before or 30 seconds before the emissions occur.
4. "If I remove my $DSHARE from Piggybank without first collecting my $DIBS, will it be lost forever?"
No, it will still be there to collect whenever you need.
5. "The Piggybank APR dropped because we're in a 'debt phase.' What does this mean?"
A debt phase takes place on the expansion epochs that start after a contraction period where there are still $DBOND to be redeemed.
65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the DBOND Redemption. This amount is still reserved whether or not DBOND holders are redeeming bonds or not.
Once DIBS in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
6. "If we're in a debt phase, how long will it last until the Piggybank continues printing as normal?"
The debt phase will last as long as is necessary to adequately pay back outstanding $DBOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonuses when people redeem $DBOND over peg.
There's no exact way of calculating how many epochs it takes, since we don't know exactly when people will redeem their $DBOND. If the debt phase is ended too early, and then the treasury doesn't have enough $DIBS to repay the $DBOND bonus, then the APR restriction would need to be turned back on.
7. "At the end of the epoch, the Piggybank did not print $DIBS, and then no $DBOND(s) were issued in the bonds section. Why?"
There is a balanced state "at peg" when $DIBS's TWAP is between 1.00 and 1.01, and this means there is neither contraction nor inflation.
8. "If DIBS continues climbing above the price of the peg, will that influence how long the debt epoch lasts?"
Depending on the price of DIBS, the Piggybank print will have to adjust to provide a buffer for any unclaimed DBOND. As the price of DIBS climbs above the peg, more DIBS needs to be distributed to the treasury to account for DBOND bonus redemption.
Last modified 5mo ago
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Contents
1.“Once DBONDS are emitted, does the Piggybank stop printing $DIBS until we are above peg again?”
2. “What happens if I interact with the Piggybank in any way?”
3. “Are the Piggybank rewards pro-rated by time? I.e if I stake three hours before the end of an epoch vs five hours before the end of an epoch, do I get different rewards?”
4. "If I remove my $DSHARE from Piggybank without first collecting my $DIBS, will it be lost forever?"
5. "The Piggybank APR dropped because we're in a 'debt phase.' What does this mean?"
6. "If we're in a debt phase, how long will it last until the Piggybank continues printing as normal?"
7. "At the end of the epoch, the Piggybank did not print $DIBS, and then no $DBOND(s) were issued in the bonds section. Why?"
8. "If DIBS continues climbing above the price of the peg, will that influence how long the debt epoch lasts?"