DEGO Finance — The LEGO Of DeFi World

Crypto Ecosystem down to the DeFi — The Journey to DEGO Finance Protocol

The Blockchain/Cryptocurrency ecosystem ushers in new and different innovative concept from time to time, not limiting its use-case to only as means of payment or as store of value. At every point in time, this ecosystem which is expanding into a global industry experiences new waves of innovations, technologies, ideas and concepts, addressing and solving the problems of human sectors; either medical, agriculture or financial. Specifically, we have seen the ICO wave, followed by the Security Token era. The Dapps, which is still very much in waves. The Exchange season where all forms of cryptotrading platforms sprung up, and the quest to make DEX a reality. And this year, we are in era of DeFi (Decentralized Finance) with Yield Farming being the focus of interest. Gradually, the NFT, a concept that has been on lowkey but been worked on by developers is gaining more attention. This article focus on DeFi and a bit on NFT in respect to DEGO Finance. DEGO Finance is an open source finance platform with a modular design.

DEGO Finance, a DeFi Protocol with a Modular Design

The DeFi ecosystem is booming and growing really fast, attracting new crypto developers, investors and players from conventional financial world. We have seen the underlying concepts for each DeFi Protocol, after being put together resulted to a spontaneous growth of this ecosystem. DEGO Finance on the other hand, stands out among other protocols with its modular design. This concept/design is entirely new and different, similar to the LEGO bricks.

Modular Design Explained

This modular design adopted by DEGO as described in the document is “the combination of various elements of a product to form a subsystem with specific functions. These subsystems are further combine with other subsystems forming a new system with multiple functions and performance.”

Using the idea of LEGO bricks (being the inspiration for this project) for better understanding of this modularity. Each plain and ordinary LEGO brick represents each element of a product. These bricks/elements of a product with specific functions combine to form a functional structure and in DEGO, a subsystem/module. And these modules are then permutated and combined in endless possible ways to form new systems with superior functions.

Modules/Subsystems that formed the Backbone of DEGO Protocol

Modules are the subsystems created to function on this protocol. They are the combined elements designed for specific functions and performance. Each module contributes to the development of the ecosystem and also allows users to perform various functions which are beneficial to them and to the platform. Below are some of the modules within the ecosystem.

• STAKE: Liquidity Mining with algorithmic adjusted

This module is coined from the popular Yield Farming protocol, a new initiative known as liquidity mining. DEGO, however, made a tweak to this LM concept in that it gives every participant leveled field to farm without fearing any predatory whale. The team designed the protocol Liquidity Mining with algorithmic adjustment by using the Mining Power instead of the LP token staked by users to determine the Daily output per user.

• DEGO DAO GOVERNANCE

This module outlines the governance mechanism of DEGO, which is community driven. It is not so different from the decentralized governance already known in crypto space. In simple term, proposals and decisions are made by the community. Every DEGO token holder can be part of the decision making body.

• DEGO NFT

Endless possibilities are embedded in this module. It is described as an exploration to the GameFi for a reason. Here, we have submodules which are; Genesis NFT Airdrop, NFT Auction, NFT staking, NFT Mint and NFT gameplay open source.

• Other modules include; Divdends, Binance Smart Chain, DEGO Chain, Hunter, Dandy, DEGO Lending, DEGO Insurance, etc.

DEGO TOKEN

DEGO Token forms the fuel that enhance the smooth operation of the ecosystem governing body. It gives holders equal right to participate in community proposals and decisions. Holders also receive dividends continuously as long as they are holding DEGO. The Token Specification is as seen below;

Name: DEGO Finance Token

Symbol: DEGO

Network: Ethereum

Spec: ERC20

Precision: 18

Smart Contract Address: 0x88ef27e69108b2633f8e1c184cc37940a075cc02

Token Allocation

Total Supply: 21,000,000 DEGO

Liquidity Mining: 16,800,000 DEGO

Conclusion

DEGO Protocol is platform of endless possibilities where new and different functioning systems can be created from diverse subsystems for greater performance. Being an open source platform gives the governance of the ecosystem to the community. DEGO is a great project with enormous potentials. Check the useful links below for further information.

Useful Links

Website: https://dego.finance

Document: https://docs.dego.finance/

Twitter: https://twitter.com/dego_finance

Medium: https://medium.com/@dego_finance

Telegram group: https://t.me/dego_finance

Proof of Authentication: https://bitcointalk.org/index.php?topic=5272474.msg55103086#msg55103086