What Is DEGO Finance (DEGO)?
Dego Finance (DEGO) is a public platform that governs without any centralized authority and combines non-fungible token (NFT) and decentralized finance (DeFi) tools together. According to its whitepaper, the protocol is an independent and open NFT ecosystem with two functions, the platform attracts users to the blockchain space. In addition, the NFT suite offers services covering the NFT lifecycle, allowing anyone to issue NFTs, take part in auctions, and trade NFTs. DEGO Finance aims to support the spirit of decentralization, openness, liberty, and growth.
Interestingly, DEGO Finance is also building an NFT protocol to deliver a cross-chain second-layer infrastructure. By designing on many blockchains such as Binance Smart Chain (BSC), Ethereum, and Polkadot, the network enables its blockchain projects to obtain users, circulate tokens, and design more NFT applications in the future. In addition, the platform provides a full court of products to address the lifecycle of NFTs:
NFT Foundry: The NFTs are powered by the token deposits during the minting process and are declined to release the deposited tokens.
NFT Mining: Users can stake NFTs and mine rewards.
Auctions: The auctioned things are bid with the ETH
NFT Marketplace: Dego Finance users can trade NFTs at Treasureland. Treasureland is a multi-chain NFT collection protocol that helps in NFT mint, auction, etc.
ScanDrop: A Dapp for Dego Finance users involves NFT scanning QR codes.
Further, the DEGO Finance Token is an ERC-20 based utility token of the Dego platform, issued on the Ethereum platform. The token's use cases are as follows:
Management: DEGO token holders can vote on the platform to guide the project's economics and growth.
NFT Suite: DEGO tokens are utilized for NFT minting, staking, auction, and trading.
System Tax: Users who transact with DEGO tokens tend to donate to a dividend pool. A dividend pool refers to the sum of money set as bets on a specific pool, fewer Refunds, and statutory deductions.
Incentives: The tokens incentivize user participation in reward hunting, referrals, etc.
History of DEGO Finance (DEGO)
According to its whitepaper, the total coin supply of DEGO finance is 21,000,000 DEGO tokens.
