Introductory Note:
Looking at the mainstream financial system, monopoly and exploitation are the most common words used in describing them. Government agencies and those private ones that are financially strong are always at the top with better advantages and benefits.
There has been a serious dissatisfaction with the operations of the mainstream financial system. The introduction of the blockchain and decentralized finance (DeFi) technologies, the technologies has proven to likely be the best solutions to a lot of the problems associated with finance. Although a lot of DeFi products in the cryptospace today are designed for a short life-span, DEGO Finance project team is in development of a long term DeFi product.
The Idea of Decentralization:
A blockchain is a technology based decentralized autonomous organization (DAO), this organization is trusted by the public to facilitate the establishment of a decentralized finance. There are currently a large number of DeFi products that are offering unique services in the cryptospace.
Decentralized autonomous organization’s (DAO) chain operates under rules that are programmed into smart contracts to carry out various operations of financial services, operations that include staking, lending, and a lot of financial related services. DeFi has witness a lot of improvement and support since its inception and its developing at a fast pace.
DEGO Finance Project Overview
DEGO is a blockchain powered technology that is built base on a set of principles called DEGO Algorithm. The purpose of this algorithm is to facilitate a safe, transparent and fair network for the DEGO ecosystem. The platform is designed for the maximum DeFi’s benefits of global crypto community, with a good number of interesting features such as;
- Security: The utilization of DEGO finance relies on direct interaction with smart contract and artificial intelligence technology. The system cannot be distorted by anyone because it makes all decisions by itself. Assets safety is a guarantee within the DEGO ecosystem.
- Transparency: DEGO is an open project, thus anyone can easily utilize the advantages to their own benefits. Developers of the system are those maintaining the codes and algorithms.
- Fairness: DEGO will be absolutely fair to everyone utilizing its ecosystem. Their promise to be a zero case of fraud or information leakage. All operations are executed by smart contract as well as all data are kept safe in smart contracts.
- Decentralized Governance: DEGO’s Decentralized Governance system gives room to everyone with interest to be a part of its system. Despite this, the system cannot be tempered by anyone because there is no centralized authority. Users are the owners of the system and they can easily engage in the formulation of the various governance models.
- Anti-capital Monopoly: Most of our civilized economies today are characterized with a huge prevalence of capital monopoly and a large margin that shows ordinary people's inability to fight against capitalists in the economic system. Those with much funds gets more incomes and powers at the detriment of those with a lesser income status. DEGO’s solution is carefully designed to promote an anti-capital monopoly within its ecosystem.
- Hunting Pool & Smart-fund Plan: With DEGO’s mining opportunity, Users can send their tokens to different mining pools in order to gain interest.
The cryptospace including all the various DeFi Products have and are experiencing different methods for sustainability, most of these products survives only for short term, with only few surviving the test of time. These have consequently leads to a decline in the market value. DEGO brought a few ideas to facilitate it long term sustainability, these includes;
- Closed-Loop Circulation of Value: This is an idea that permits clients to provide DEGO’s liquidity in Uniswap in order to gain LP Token into mining pools that will earn them DEGO rewards. The operation between DEGO and LP Token will steadily leads to a more development.
- Application of Revenue: DEGO present it clients with the opportunity to gain high revenues from DeFi utilization. Clients are guaranteed of an increased reward while utilizing the DEGO’s opportunity.
- Destruction of Deflation: With this unique idea, when DEGO is tranfered from one wallet to another, a handling fee of 2.5% will be deducted from the dividend pool and 2.5% will be burned, making it 5% in total. This will do well in improving the assets value as the supply will be decreasing.
- Cross Chain Idea: Blockchain and cryptocurrency has certainly broken the limitations of borders but it has not broken the limitations between chains. The DEGO’s introduction of Cross chain utilization have a bright future in the DeFi space. Cross chain will bring a technology to support the exchange between any token from any blockchain. The cross chain idea has a number of features which includes;
- Decentralized cross chain bridge: This allows clients to deposit tokens in DEGO chain and mint them in a decentralized way.
- Cross chain swap: This gives clients the capability to exchange token assets from two different chains.
- Cross chain hunting pool: This allows DeFi products on other chains to become DEGO’s hunting pool.
DEGO Token is the utility token of the ecosystem, the token is minted in the ethereum blockchain with a primary purpose of serving as a fuel within the DEGO’s ecosystem. The token will be utilized for operations such a platform fees, governaning positions and mining/staking rewards among several others. Every client can take part in the DEGO’s governance system by getting UNI-V2LP and can farm DEGO through liquidity pool.
Conclusion:
DEGO’s Finance has a team with a unique solution that will benefit everyone that trust to utilize the opportunity they are presenting to the decentralized finance ecosystem. DeFi space is growing by the day with lots and lots of growth potentials, DEGO stands a chance to make a major impact. I will recommend looking more into the idea by following the links underneath, thanks!
Website : https://dego.finance/home
Discord : https://discord.com/invite/xJjSJrd
Twitter : https://twitter.com/Dego_Fi
Telegram : https://t.me/dego_finance
GitHub : https://github.com/dego-labs
Medium : https://medium.com/@Dego.finance
Username : pijayplow93
ETH : 0xE42555f44ff0d1f38C56540b3FFA4428734dD775
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