In this article, we will give you the answer to the question of What is Dego Finance (DEGO) and focus on the project.
In this article, we will give you the answer to the question of What is Dego Finance (DEGO) and focus on the project.
What is Dego Finance (DEGO)?
Dego Finance (Dego) is a cross-chain NFT + DeFi protocol and infrastructure and an open NFT ecosystem where anyone can print NFTs, initiate NFT mining, auctions, and trade.
Dego also offers a cross-chain infrastructure to enable blockchain projects to grow their user base, distribute their tokens, and develop more diverse NFT-powered applications. The project is also building a parachain through Substrate, enabling cross-chain NFT asset transfers, combining applications and basic protocols.
DEGO is the utility token of the Dego platform and has the following use cases:
Governance: DEGO token holders will vote on platform parameters to navigate the project’s economy and developments.
Incentives: DEGO tokens are used to encourage user participation in future bounty hunting, referrals, and other programs.
NFT Suite: DEGO tokens are required for NFT issuance, staking, auction, trading and more.
System Tax: Users trading with DEGO tokens will contribute to a dividend pool.
The platform includes DEGO NFT Suite, which offers a complete suite of products to manage the life cycle of NFTs:
NFT Foundry: There are Mint NFTs with unique properties and rare ratings by depositing DEGO, ERC-20 or BEP-20 tokens. DEGO Finance’s NFTs are backed by token deposits during the issuing process and can be parsed to release deposited tokens.
NFT Mining: Betting NFTs and mining rewards.
Auctions: NFT auctions are held as FOMO3D auctions.
NFT Marketplace: Users can buy and sell NFTs in the Treasury Zone.
ScanDrop: A dApp for users to participate in NFT airdrops by scanning QR codes.
What is Dego Finance?
Dego Finance is an NFT + DeFi protocol and infrastructure with two functions: The project acts as an independent and open NFT ecosystem that attracts users to the blockchain space. NFT Suite offers services that cover the entire NFT lifecycle, allowing anyone to publish NFT, participate in auctions and trade NFT.
Dego Finance is also creating an NFT protocol to provide a cross-chain Layer 2 infrastructure. Building on multiple blockchains such as Dego Finance, Binance Smart Chain, Ethereum, and Polkadot, it allows blockchain projects to acquire users, distribute tokens, and develop more diverse NFT applications.
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