DEGO - The Next-Gen Sustainable NFT and Yield Farming DeFi Ecosystem

Decentralized Finance, shortened as DeFi, has gone on steroids in recent times, as various crypto projects seek to solve real-life problems by mirroring various financial instruments available in the traditional market and make it available to everyone in a permissionless and completely decentralized way. From lending, borrowing, synthetic assets, derivatives and decentralized exchanges, DeFi applications unlock the vast potential embedded in finance. DeFi appeals to a general lot, individuals and enterprises, because it redistributes wealth and makes it available to everyone irrespective of their status or location. Unlike traditional finance which has so many rules and strict minimum requirements that limit a common man from participating.

The supercharged frenzy notwithstanding, DeFi is market is yet to reach maturity.

The Flip Side of DeFi
The massive investment locked in various DeFi applications is mostly driven by people who want to make some quick bucks and jump on the next DeFi train. Such category of people care less about the security, sustainability and adoption of the technology. Intertwined with the DeFi boom is the yield farming concept which rewards farmers with fees and/or governance tokens via liquidity mining. This model has however been exploited by whales, nicknamed DeFi Chads or DeFi Degens, who, by the virtue of their status as colossal stakers and liquidity providers, earn massive rewards (as fees and governance tokens) and quickly dump it on the market while pulling out liquidity. It is just as taking the life out of a project in one fell swoop.

This model makes DeFi unsustainable in the long term.

In order for DeFi to last beyond the suppositional bubble of yield farming, there is an urgent need to redesign the algorithm powering liquidity mining. Here comes DEGO - a DeFi project designed bottom-up for an innovatively sustainable DeFi ecosystem.

An Introduction to DEGO

DEGO is a decentralized financial application that not only empowers everyone to tap into the vast potential of DeFi but also ensures that it can endure on a long term basis. DEGO recreates the DeFi ecosystem by adjusting the liquidity mining algorithm to ensure its sustainable growth and evolution. DEGO breathes a new lease of life into DeFi yield farming just in time when there is concurrent doubt on the sustainability of many DeFi products.

DEGO is designed in such as way as to discourage whale liquidity providers from pulling out liquidity in a way that can crash or negatively impact the market by coding the liquidity mining algorithm to enforce certain rules. This is a genius move by the DEGO team to ensure sustainable yield farming and prevent DeFi Chads from pulling stunts against the market or shrimp farmers. This move makes yield farming not only profitable for all farmers, but protects the life span of the project.

In the new world of DeFi, all DeFi apps are just like pieces and DEGO is the LEGO that rebuilds each block into a perfect and creative masterpiece that serves the interests of all. This gives DEGO a unique and outstanding identity among other blockchain projects formed on the ideals of financial autonomy, transparency, equality and creative ingenuity. In simple terms, DEGO is that DeFi project everyone across the globe can equally participate in.

Advantages of DEGO's Adjustable Liquidity Mining Model
Many pundits have been reiterating that DeFi is highly risky and it is a bubble awaiting to burst. This changes with DEGO, the adjusted liquidity mining algorithm prevents whale liquidity providers (LP) from amassing large governance tokens and dumping it on the market.

DEGO contracts ensures fair distribution mechanism by diminishing 2% of the transferred token amount as trading fees, half of which is destroyed and the other deposited into the dividend pool.

Consequently, DEGO preserves the sustainability of the DeFi ecosystem, enabling people across generations to leverage the potential of permissionless finance and tap into the wealth locked therein.

How safe is DEGO?
Unlike many DeFi project which are nothing more than social experiments without safe nets for its participants, DEGO smart contracts are fully audited and certified safe. This means that thee are no apparent backdoors or loopholes in the codes powering DEGO ecosystem.

Whether individuals or enterprises, DEGO is not another YAM fiasco.

DEGO Token
DEGO token is an ERC-20 token issued on the Ethereum blockchain. It functions as the governance and equity token of the DEGO universe. It is not premined or preminted except via liquidity mining. DEGO holders can vote on community proposals and as well be eligible for dividends. The total supply of DEGO token is 21,000,000, and it can be stored on any ERC-20 compatible wallet.

Recently, Meet.One wallet integrated DEGO into its wallet enabling users to transfer and store DEGO tokens.

DEGO NFT
DEGO NFT are unique non-fungible token which cannot be mutually exchanged unlike DEGO tokens. DEGO NFT depicts DEGO's inroad to the world of innovative gaming on blockchain. In an artistic twist, DEGO NFT combines DeFi with Gaming birthing a decentralized GameFi.

In the world of DEGO NFT, there are 6 grades of NFT which are BRONZE, SILVER, GOLD, PLATINUM, DIAMOND, KRYPTONITE, each with a different level of productivity. DEGO users can mint NFT using any amount of DEGO tokens and the NFT can also be disintegrated back to produce the initial DEGO used to mint it. The NFT mining returns can be calculated using the NFT Mining Power table.

The NFT Mining Power table and rewards can be viewed via this link.

Users can now trade DEGO NFT on Opensea

Final Thoughts
The astronomical rise of interest and investment in DeFi is unprecedented but there are concerns about the long term value of the DeFi ecosystem. DEGO aims to change the narrative by introducing adjustable algorithm for liquidity mining which preserves the value locked in the DeFi ecosystem and make DeFi farming lucrative and sustainable in the long term.

Without much ado, DEGO is a necessity designed to build a sustainable DeFi ecosystem.

For more information on DEGO, visit the following links:

Website: https://dego.finance/home
Telegram: https://t.me/dego_finance
Twitter: https://twitter.com/dego_finance
Discord: https://discord.com/invite/xJjSJrd

Author: Ebullientfellow
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