Review Degis (DEG) – The next-generation DeFi protection protocol bridging the physical and digital world
In the context of DeFi platforms being popular and active, along with many potential risks, hacks on DeFi platforms have become a barrier to the development and expansion of the platform. It is a project built to protect assets on Avalanche Blockchain, an asset protection insurance protocol for investors against potential risks in the cryptocurrency market.
Concept project – What is Degis?
Degis is the next generation of all-in-one protection protocols. To be straightforward, Degis wants to completely disrupt the traditional insurance market and let those conservative guys out. The project leverages blockchain technology to solve two key problems in the traditional protection market: excessive operation costs and non-transparent claims.
What is the project trying to achieve?
Degis is the first decentralized protection protocol built on avalanche, which protects users from both on-chain and off-chain risks. The ultimate goal of Degis is to cover the whole avalanche system and then expand its arm to the whole blockchain field. The project currently offers price protection on AVAX, ETH, and BTC, and will cover more tokens which are originally launched on Avalanche. In the future, it will launch more products like impermanent loss protection, smart contract protection, and also protection aggregator which are more dynamic and influential in the entire system.
On the project, users are able to protect themselves from token price volatilities, impermanent loss, wallet risks, and even smart-contract insurance. Basically, it is going to fill the gap in the current DeFi insurance world. To provide a better experience for every user, we build Degis with 3 main characteristics: to protect, to earn, and to play. Every contributor, no matter if you are buying or selling insurance, will be incentivized by Degis tokens.
What is unique selling point?
By leveraging blockchain and smart contract technology, there will be at least four forms of protection in the future to meet all types of needs:
- Token Model
By using smart contracts (claim conditions to be prescribed by the mutual) to stake reserves, one can tokenize one certain cover event and use the AMM pool to make it circulate in the secondary market. At the expiry date, the smart contracts will execute the cover payment automatically. For example, token price protection is exactly this kind.
- NFT Model
Degis uses AI algorithms to predict the price of each protection product and sell it to buyers as an NFT. Liquidity providers can stake funds in the mutual cover pool to share the risk of compensation and share in the risk premium, while buyers can enjoy protection. One of the possible use cases will be canceled flight protection.
- Meta Market
All current existing protection protocols, NFTs, and tokens can be traded in the meta market which is an aggregator. Not only products from Degis, but all on-chain protection products issued by other third-party platforms can also be exchanged in it. Meanwhile, users can generate their own protection products easily by setting some simple variables without writing smart contracts and trading them in the meta market.
- DAO Model
The discretionary mutual cover is provided by a DAO where all members are participants, which is backed by smart contracts. They make decisions together, take risks together, and determine the level of mutual cover payouts in the event of claims.
- Token Name: Degis
- Degis Ticker: DEG
- Blockchain: Avalanche
- Token Standard: Updating…
- Contract: Updating…
- Token type: Utility, Governance
- Total Supply: 100,000,000
- Circulating Supply: Updating…
Token release schedule
Degis plans to release 100,000,000 DEG Token in totol, and the following are the release schedule in 10 years and 3 years
The release schedule of DEG Token in 10 years
The release schedule of DEG Token in 3 years
Token use case
DEG is a native token for Degis Platform, DEG tokens can be staked into the treasury for protection pool premium sharing. Moreover, DEG holders can stake to create DEG tokens to attend initial protection boosting.
How to own the token?
Markets and Community
Degis has crossed the mark of 33,000 Followers on Twitter
Conclusion and analysis
Degis is the first decentralized insurance marketplace built on Avalanche, to help eliminate the cumbersome and cumbersome claims processes of the traditional insurance sector.
Find more information about Degis:
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
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