What Is DeFi Degen Land (DDL)?

DeFi Degen Land aims to be a unique next-generation metaverse with the goal to make DeFi safe. The term metaverse reflects an immense virtual world consisting of both social and financial potential, where the use of blockchain facilitates the exchange of virtual items against real economic value. Further, the metaverse of DeFi Degen Land aims to provide users with the following four facilities:

• In-game interaction with the blockchain

• One can have ownership of their items

• The facility of playing online games to win prizes

• Using NFTs within the game Thus, as per its whitepaper, the network seeks to help create an environment where users can participate in the metaverse with the possibility of earning while playing. Besides these facilities, users can also communicate with one another in the metaverse and also compete against each other to earn prizes. Further, to facilitate and control this entire structure of the metaverse, the DeFi Degen Land launched its cryptocurrency DDL token.

The DDL is a deflationary token native to the metaverse of DeFi Degen Land. The term deflationary token indicates a currency whose total supply is consistently decreasing, making the token more and more rare. Further, the token aims to be used for the following three primary operational purposes on the platform:

• Allocation of voting power to decide the future of metaverse

• Buying NFTs and in-game goods

• Earning rewards for holding the tokens These rewards, which are generated against holding the token, are paid out to the token holders in the form of Bitcoin (BTC) at a rate of 8%, redistributed automatically against every transaction made using DDL. Thus, this digital coin also aims to help provide a passive income opportunity for token holders. Besides this, 3% of all DDL transactions are allocated to marketing, and 4% is converted into liquidity for PancakeSwap. PancakeSwap is an automated market maker (AMM) - decentralized finance (DeFi) application that provides users with liquidity and the facility of token exchange using farming by providing fees in return. These features, in turn, seek to allow DeFi Degen Land to fuel their projects while maintaining the stability of the entire metaverse.

History of DeFi Degen Land (DDL)

DeFi Degen Land was developed by an anonymous team of three members who have contributed to the project as per their skills and knowledge. The token of the DeFi Degen Land has a maximum total fixed supply of 10,000,000,000,000 DDL coins.