Decentralized finance leverages key principles of the Ethereum blockchain to increase financial security and transparency, unlock liquidity and growth opportunities, and support an integrated and standardized economic system.
- Programmability. Highly programmable smart contracts automate execution and enable the creation of new financial instruments and digital assets.
- Immutability. Tamper-proof data coordination across a blockchain’s decentralized architecture increases security and auditability.
- Interoperability. Ethereum’s composable software stack ensures that DeFi protocols and applications are built to integrate and complement one another. With DeFi, developers and product teams have the flexibility to build on top of existing protocols, customize interfaces, and integrate third-party applications. For this reason, people often call DeFi protocols “money legos.”
- Transparency. On the public Ethereum blockchain, every transaction is broadcast to and verified by other users on the network (note: Ethereum addresses are encrypted keys that are pseudo-anonymous). This level of transparency around transaction data not only allows for rich data analysis but also ensures that network activity is available to any user. Ethereum and the DeFi protocols running on it are also built with open source code that is available for anyone to view, audit, and build upon.
- Permissionless. Unlike traditional finance, DeFi is defined by its open, permissionless access: anyone with a crypto wallet and an Internet connection, regardless of their geography and often without any minimum amount of funds required, can access DeFi applications built on Ethereum.
- Self-Custody. By using Web3 wallets like MetaMask to interact with permissionless financial applications and protocols, DeFi market participants always keep custody of their assets and control of their personal data.
The composability of DeFi has unlocked opportunities for product developers to build DeFi protocols directly into platforms across a variety of verticals.
DEGO adopts a modular combination design concept. Modularity refers to the combination of various elements of the product to form a subsystem with specific functions. After a combination of different modules, a new product comes out, thereby achieving the effect of 1+1>2. LEGO bricks are the best example and inspiration for those modules. Every brick is plain and ordinary, but it generates endless possibilities when putting together. DEGO equals to LEGO in the DeFi world. Each DeFi protocol as a brick, It could be the stable coin(DAI), flash Loans(Aave, Compound), DEX exchanges(Uniswap and Balancer), derivatives( Synthetix), insurances (Nexus Mutual). Around these underlying protocols, we will build a new dapp to enhance the value of the DeFi, create diversified investment portfolios and generate substantial financial returns for users, and become the entrance to the future of financial services.
Given the attractive nature of passive income, Dego.Finance expect many protocols to integrate various lending opportunities into other sectors of the wider DeFi ecosystem.
Yield Farming On DEGO Protocol
Yield farming isn’t simple. The most profitable yield farming strategies are highly complex and only recommended for advanced users. In addition, yield farming is generally more suited to those that have a lot of capital to deploy (i.e., whales).Yield farming isn’t as easy as it seems, and if you don’t understand what you’re doing, you’ll likely lose money. We’ve just discussed how your collateral can be liquidated. But what other risks do you need to be aware of?
One obvious risk of yield farming is smart contracts. Due to the nature of DeFi, many protocols are built and developed by small teams with limited budgets. This can increase the risk of smart contract bugs.Even in the case of bigger protocols that are audited by reputable auditing firms, vulnerabilities and bugs are discovered all the time. Due to the immutable nature of blockchain, this can lead to loss of user funds. You need to take this into account when locking your funds in a smart contract.
In addition, one of the biggest advantages of DeFi is also one of its greatest risks. With the rise of yield farming, whales are the most common concern for DeFi farmers.
DEGO Liquidity mining with algorithmic adjusted aim to solve problem on Defi platform and and toward a more sustainable ecosystem, In DEGO protocol used a set of deterministic algorithms for liquidity mining, convert the LP token staked by users into POWER.
Daily output per user = daily output of the mining pool * POWER / total POWER
POWER = staked LP token amount * coefficient of correspondence
The calculation formula of POWER are:
1/ DEGO divide users into three ranges according to their staked amount:
- a) Worst range: users with the most staked amount
- b) Best range: users with the intermediate staked amount
- c) Common range: users with the smallest staked amount
- For example, User A staked 10 LP Tokens and is currently in the common range, then his POWER is 10 * 3 = 30 POWER
The numbers of the initial three ranges are, [10, 10, total number-20]
As the total number of users increases by 100 people, the worst range and the best range increase by 10 slots, up to a maximum of 50 people.
*If the user staked less than three days, 10% of the earnings are deducted during withdrawal and transfer to the dividend pool.
- Name: DEGO Finance Token
- Symbol: DEGO
- Network: Ethereum
- Spec: ERC20
- Precision: 18
- Smart Contract Address: 0x88ef27e69108b2633f8e1c184cc37940a075cc02
Total Supply (100%): 21,000,000 DEGO
- Liquidity Mining (80%): 16,800,000 DEGO
- PreSale & Whitelist (10%): 2,100,000 DEGO
- Uniswap Liquidity (5.25%): 1,102,500 DEGO
- DEGO DAO (3.75%): 787,500 DEGO
- Airdrop (1%): 210,000 DEGO
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