DEGO Finance is a Defi project offering a variety of products and financial services such as conventional banks. By adopting a modular concept like LEGO bricks, DEGO can create many new Defi and Dapp products. DEGO Finance currently has its own modules such as DEGO DAO, DEGO Swap, DEGO Lending, DEGO Insurance, DEGO Chain and others. The combination of each individual module will create a new product with unlimited possibilities, by creating various unlimited new Defi products that can be implemented in various aspects of life, makes Defi more than just a financial system.
DEGO Finance is a Decentralized Finance (DeFi) hub that aims to create a couple of exceptional learning opportunities for cryptocurrency traders to make money beyond the hassle.
DEGO's dedicated protocol already does an excellent job of charting more than one way for cryptocurrency traders to have an equal opportunity.
In this article, you will learn about the unusual methods that DEGO Finance uses to ensure maximum decentralization of finance.
DEGO foundation
DEGO is a biological system made up of different elements. What follows are the highlights of DEGO;
The Bet: DEGO is taking action, identifiable with a fraction that humans can get, with Liquidity Mining with an algorithmically balanced Dego that could make the DeFi biological system more real.
DEGO DAO: DEGO is an environment based on blockchain standards, in particular on capability, compliance, responsiveness and development. Thus, the network can participate in the framework boundaries at the DEGO stage.
DEGO NFT: This is a new GameFi study in light of the fact that there must be something fun about DEFI and DEGO NFT will be presented in a different and inspiring way.
Prize Pool: The income of the DEGO stage that comes from barters, tracking pools, trades, etc., will pour into the prize pool to some extent.
DEGO Chain: This allows other advanced resources like Bitcoin or other coded benefits to enter the public Ethereum chain and take an interest in DEGO.
Administration: Each DEGO token holder has the opportunity to participate in the development of DEGO through administration.
Profit: When someone moves the DOGE token, they are charged 5% of the cost. 2.5% of the cost will be paid as soon as possible, the remaining 2.5% will be transferred to the profit fund.
A few highlights like DEGO Closeout, Tracker, Dandy, DEGO Trade, DEGO Loaning, and DEGO Protection will be posted later. Just pause.
How to place a bet in the DEGO mining pool
It's important to note that DEGO mining is currently limited by the amount of cryptocurrency its system can accept. However, there are effective plans to add more tokens for versatility.
Cryptocurrency holders must select the current asset they are willing to stake on from the options available. After placing bets, the user can proceed to receive the reward using the harvesting feature of the platform. In addition, investors can opt out of withdrawing their $ DEGO rewards by re-placing their assets.
Available pools of DEGO mining pool
DEGO was able to set an option for available tokens. They are distributed between two DEGO mining pools. Basically, each pool has its own specific cryptocurrency for staking. You may be wondering why there are two pools. Their difference lies in the operating mode.
In pool 1, tokens can be bet directly. On the other hand, Pool 2 requires users to obtain an intermediate token by exchanging ETH and DEGO. The resulting LP is then used for pool bets to receive rewards.
Pool 1
This pool works by initiating a direct exchange of your tokens to receive DEGO rewards.
USDT: This requires users to stake their USDT assets. Assets are betting on a decentralized application of a blockchain project.
WETH: Wrap ETH is also sold in pool 1 of the DEGO network.
Pool 2
Uniswap: This token belongs to pool 2 of the DEGO mining pool. However, tokens cannot be bet directly. Uniswap converts to LP tokens before placing bets for DEGO rewards.
When transferring tokens, the system charges 10% of the transaction amount as a commission. It is divided into 5% (trading commission), 2.5% (destroyed) and 2.5% (dividends).
Output
The DEGO network and its backbone are well equipped to make a lasting mark on the DeFi industry, while offering a safer, more transparent, coherent and highly effective method of financial management.
he also made a number of innovative changes to his rule to ensure that his products and services are sustainable enough and achieve longevity across DeFi and the blockchain framework.
useful links
Website: https://dego.finance/
Twitter: https://twitter.com/Dego_Fi
Telegram: https://t.me/dego_finance
Medium: https://medium.com/@dego_finance
Discord: https: // discord.gg/xJjSJrd
Github: https://github.com/dego-labs
bicointalk name: Spartacus1971
bicointalk url: https://bitcointalk.org/index.php?action=profile;u=2587769
Ethereum : 0xb2c62391cce67c5efc1b17d442ebd24c90f6a47c