What is DEGO Finance? Sustainable Liquidity Mining
2 min read

What is DEGO Finance? Sustainable Liquidity Mining

What is DEGO Finance? Sustainable Liquidity Mining. DEGO users enjoy a fair yield farming formula, and create unique crypto collectibles.
What is DEGO Finance? Sustainable Liquidity Mining

DEGO Finance is a DeFi farming platform for liquidity mining where users can deposit assets and earn rewards. At first glance, you may label it as another copycat following the food token themed protocols. However, the platform utilizes a different formula for rewarding liquidity providers, one that enables a more decentralized and sustainable ecosystem. Dego finance calls it liquidity mining with algorithmic adjusted.

Why use DEGO finance?

Most of the popular DeFi farming protocols such as SushiSwap or SashimiSwap follow a design that rewards whales. Whales can easily earn huge chunks of liquidity rewards, which they usually dump on the market. For smaller shrimp farmers, this can have a massive negative impact on their DeFi strategy.

Furthermore, smaller portfolios cannot move their funds around easily due to high transaction costs. Overall, the craze has created numerous DeFi protocols that do not have sustainable ecosystems or tokenomics in the long run.

How does DEGO remain sustainable?

The platform uses a set of deterministic algorithms for liquidity mining. When a user stakes LP tokens in the platform, it converts them to POWER to determine how much rewards they will receive. You could compare POWER to hashrate in Bitcoin mining. The formula puts less importance on the staked amount, and more on the total amount of participants. Which is why Dego Finance also has an upcoming referral program.

Hunting DeFi gems is costly… Being an early adopter can be worthwhile, but it is hard to catch the correct timing and you always risk the project being a scam. Dego mitigates this risk by following a modular design where every DeFi protocol (Aave, Uniswap, Yearn etc…) is a lego brick in its ecosystem. As a result, the platform creates a diverse investment portfolio for its users.

  • To add to the sustainability design, the DEGO governance token has a deflationary and profit sharing model. On every transfer, 1% is permanently destroyed through burning and 1% is transferred into the dividends pool.

NFT mining… the platform is forward thinking and has embraced the current market trend around crypto collectibles and art. Token holders can stake their DEGO tokens to yield farm unique non-fungible tokens which they can trade on OpenSea for additional income streams.