What is Dego Finance (DEGO)?
Dego Finance is a platform that combines non-fungible tokens (NFTs) and decentralized finance (DeFi) tools in a public and decentralized manner. The project is a secure, independent, and open NFT ecosystem with two major elements - the platform, for attracting users to the blockchain, and the NFT suite. In the NFT suite, you can issue NFTs, take part in auctions, and trade NFTs. It has a vision of supporting decentralization, liberty, openness, and growth of Web3.
Dego Finance's native token, DEGO, is based on the ERC-20 token standard and stored on the Ethereum blockchain. You can check the current DEGO price on the live Dego Finance price chart above.
The developers of the project are also building an NFT mechanism to enable cross-chain layer-2 infrastructures. This mechanism is being designed on different blockchains such as BSC, Polkadot, Ethereum, and many others. Cross-chain activities are important in the Dego finance ecosystem, as it helps in token circulation, getting new users, and the design of future NFT projects.
The Dego Finance crypto project takes into account the full life cycle of NFTs by providing users with such features as NFT foundry, NFT mining, auctions, NFT marketplaces, and scan drop. For people without in-depth knowledge of the processes behind launching and selling NFTs, these tools are particularly important and useful.
Use Cases of DEGO Tokens
Holding DEGO tokens gives you the right to access services in the ecosystem. In the NFT suite, DEGO tokens are used for NFT mining activities, staking, auctions, and trading transactions.
DEGO tokens are also used as a system tax on dividend pools in the Dego ecosystem. However, these dividend pools offer fewer returns and they have statutory deductions.
Moreover, Dego Finance tokens also act as governance tokens, entitling DEGO holders to vote on platform policies, economic decisions, and further growth.
Finally, the tokens are given as rewards for participation in treasure hunts, referrals, and the promotion of the project.
Don't forget to check the aforementioned Dego Finance price chart. Analyzing the DEGO price trends will help you to make better purchasing decisions.
Who Founded Dego Finance?
The team behind the Dego Finance crypto project has decided to remain anonymous. This could be due to the fact that they want the project to remain truly decentralized. The project was launched in 2020.
According to the Dego Finance whitepaper, the total supply of DEGO is 21 million. These tokens can be minted through liquidity mining. From the initial total supply, 80% was reserved for mining activities, 10% was used for presale and whitelist activities, and 5.25% was reserved for Uniswap liquidity. Furthermore, 1% was set aside for AirDrop activities, while the Dego DAO retains 3.75% of the remaining tokens.
When a user makes a transaction with DEGO crypto tokens, certain percentages are deducted, burned, or transferred to the dividend pools. These are the deflationary measures taken to maintain and stabilize the DEGO price.