What is DEGO?
Recently, decentralized finance (DeFi) has continued to be popular, attracting the attention of a large number of investors and developers. Many traditional financial practitioners have also begun to pay attention to this field, trying to tap its potential. However, faced with a large number of DeFi projects and opportunities, investors have limited funds and time and cannot make a comprehensive layout.
At this time, the emergence of DEGO provides a brand new solution. DEGO builds products based on the concept of modular design. Simply put, it modularizes multiple products and forms new and more powerful systems through free combination, just like putting different Lego blocks together to form a complex building.
In the DeFi world, DEGO plays a role similar to "Lego blocks". It regards various DeFi protocols (such as stablecoin DAI, lending platforms Aave and Compound, decentralized exchange Uniswap, derivatives platform Synthetix, and insurance protocol Nexus Mutual, etc.) as modules, and creates new decentralized applications (dApps) through innovative combinations and applications, thereby enhancing the overall value of the DeFi ecosystem.
DEGO Tokens: Governance and Distribution
DEGO's governance token is the core of its ecosystem. Holders can participate in community governance, submit proposals, participate in voting, and obtain long-term benefits. Unlike many projects, DEGO adopts a completely transparent and fair distribution mechanism without pre-sales and pre-mining. Its specific distribution is as follows:
Total issuance: 21,000,000 DEGO
Liquidity mining: 80% (16,800,000 DEGO)
Pre-sale and whitelist: 10% (2,100,000 DEGO)
Uniswap liquidity: 5.25% (1,102,500 DEGO)
DEGO DAO：3.75%（787,500 DEGO）
Community airdrop: 1% (210,000 DEGO)
Destruction mechanism and reward mechanism
DEGO adopts a mechanism that combines destruction and dividends. In each DEGO transaction, 2% of the transaction fee will be deducted, 1% of which will be directly destroyed, and the remaining 1% will enter the dividend pool (80% distributed to holders and 20% to the team). This mechanism effectively reduces the market circulation and increases the scarcity and value of tokens.
Referral Rewards
DEGO has designed a unique referral system for early participants. Users can obtain their own referral ID by paying ETH and earn income by inviting new users. The specific rules are as follows:
Users purchase referral IDs with a starting price of 0.1 ETH, and the price increases by 0.1 ETH for every 100 IDs sold.
Invitation mechanism: The inviter can get 7% of the invitee's income, and 3% of the income of other new users invited by the invitee. For example: A invites B, and B invites C, then A can get 7% of B's income and 3% of C's income.
DEGO Decentralized Autonomous Organization (DAO)
DEGO DAO is different from traditional projects such as MakerDAO, Compound and Yearn Finance. It advocates freedom, equality, openness and innovation, and aims to build a project that is fully governed by the community.
At the beginning of the project, the DEGO team will manage governance authority through a multi-signature wallet and elect five representatives to oversee the progress of the project. Each change requires the consent of at least three representatives to ensure fairness and transparency of governance.
Once the project enters the mature stage, the community can re-elect governance representatives through proposals and voting mechanisms. All proposals will be open and transparent, and any community member can participate in the voting to jointly decide the future development direction of DEGO.
DEGO Non-Fungible Token (NFT)
DEGO NFT is an innovative attempt in the GameFi field. NFT (non-fungible token) is usually highly attractive in games and collectibles, and DEGO combines this feature with DeFi to create a new way of investment and mining. Currently, users can trade GEGO (DEGO's NFT token name) on the Opensea platform.
Each NFT has different levels (bronze, silver, gold, platinum, diamond, krypton gold), and each level has different production capacity and mining efficiency, which directly affects the mining income. Users can mine by casting, decomposing, and staking NFTs, and calculate the power according to the following formula:
Power = NFT face value * mining efficiency
In addition, DEGO NFT also includes a “reverse decomposition” mechanism, and users can decompose their NFTs back to the original DEGO tokens at any time.
Liquidity Mining: Fairness and Innovation
In the DEGO ecosystem, liquidity mining uses a distribution algorithm that is different from the traditional model to solve the "whale" effect (large households control most of the profits). By introducing the "power coefficient" mechanism, DEGO divides pledgers into three levels:
Low level (1x coefficient): users with the least number of staked LPs.
Intermediate (3x coefficient): Users with medium stake amount.
Advanced (5x factor): Users with the largest stake.
For example, if a user stakes 10 LP tokens and belongs to the mid-level tier, his power is 10*3=30.
This design protects small investors to a certain extent and prevents whales from manipulating mining returns through a single pledge.
DEGO Ecosystem: Liquidity and NFT Mining Pool
In order to encourage more users to participate, DEGO has designed multiple mining pools, including mainstream assets such as ETH and USDT. The mining income of each mining pool depends on the total amount of LP tokens staked, and is dynamically adjusted according to the stake time and amount of participants.
Major mining pools:
Pool 1: DEGO-ETH LP — 20% of the total pool (4,200,000 DEGO)
Pool 2: DEGO-UNI LP — 2.5% of the total pool (262,500 DEGO)
Pool 3: USDT mining pool — 5% of the total mining pool (1,050,000 DEGO)
Pool 4: WETH mining pool — 5% of the total mining pool (1,050,000 DEGO)
NFT mining pool rules:
Each NFT mining pool holds 0.5% of the total supply, and production is halved every week.
The mining pool with the highest mining power will receive additional rewards.
DEGO's design concept is based on modularity and decentralization, combining the innovative features of DeFi and NFT fields, aiming to bring diversified and sustainable financial services to users through an ever-expanding product ecosystem. Through flexible governance, innovative mining mechanisms and incentive-based NFT systems, DEGO hopes to bring new game rules and value creation models to the DeFi world.
