Built for De-Fi Protection🛡️//Follow our updates: http://linktr.ee/ProjectDegis//
Built for De-Fi Protection🛡️//Follow our updates: http://linktr.ee/ProjectDegis//
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We are excited to announce that Degis is deployed on Arbitrum now! By deploying Degis on Arbitrum, Degis can take advantage of the scalability benefits of Arbitrum, improving transaction speed and reducing gas fees for its users. This could make the use of the Degis protocol more attractive to a wider range of users, potentially leading to an increase in adoption. Furthermore, it showcases the compatibility of Degis with Layer 2 solutions, which is crucial as the Ethereum ecosystem continues to evolve and scale.
Now we provide protection for Trader Joe, GMX, Wombat, Gains, Lido, and Arb. We will also collaborate with more protocols in the future. By providing protection for these platforms, Degis is contributing to the overall security and robustness of the DeFi ecosystem. With insurance coverage, users may feel more confident in interacting with these platforms, which could potentially lead to increased adoption of DeFi. On the other hand, it also highlights the value of decentralized insurance in today's rapidly evolving digital asset landscape, where new protocols are constantly being developed and the associated risks are continuously evolving.
Following our Arbitrum support, you can now bridge $DEG tokens seamlessly between Avalanche and Arbitrum on our website degis.io/bridge. With that, soon you will be able to take advantage of Income Sharing on Arbitrum and trade $DEG on a soon-to-be-announced DEX! So keep an eye open for those announcements.
How does Protocol Protection work?
Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. It covers most risks that may appear in the decentralized world, and the innovative mechanism covers some blind spots in the current De-Fi insurance market.
Protection Pool+Priority Pool Double Protection Design
The protection pool is the storage pool of protocol protection funds, this pool will pay all compensations. Users can stake the shield into the protection pool to become the underwriter of all insured projects on the Degis platform. After staking, they will receive protection Pool LP tokens.
Each project has a corresponding Priority Pool, which will be used as compensation first after a claim event occurs in this project. Underwriters can further stake the protection pool LP token to the priority pool and enjoy extra mining rewards generated by each priority pool. But this also means that the user needs to bear higher risks for this project, because when this specific protocol has a claim event, the liquidity providers who stake protection pool LP tokens in the priority pool of this protocol will lose their staked protection pool LP tokens and the shield corresponding to the protection pool LP token in the priority pool will be used for compensation first.
Degis Official Links
Twitter: https://twitter.com/ProjectDegis
Instagram: https://instagram.com/project_degis?igshid=YmMyMTA2M2Y=
Telegram Announcements Channel: https://t.me/ProjectDegisAnnouncements
Telegram Chat Group: https://t.me/ProjectDegis
Discord: https://discord.gg/zGP5aWHYFZ
We are excited to announce that Degis is deployed on Arbitrum now! By deploying Degis on Arbitrum, Degis can take advantage of the scalability benefits of Arbitrum, improving transaction speed and reducing gas fees for its users. This could make the use of the Degis protocol more attractive to a wider range of users, potentially leading to an increase in adoption. Furthermore, it showcases the compatibility of Degis with Layer 2 solutions, which is crucial as the Ethereum ecosystem continues to evolve and scale.
Now we provide protection for Trader Joe, GMX, Wombat, Gains, Lido, and Arb. We will also collaborate with more protocols in the future. By providing protection for these platforms, Degis is contributing to the overall security and robustness of the DeFi ecosystem. With insurance coverage, users may feel more confident in interacting with these platforms, which could potentially lead to increased adoption of DeFi. On the other hand, it also highlights the value of decentralized insurance in today's rapidly evolving digital asset landscape, where new protocols are constantly being developed and the associated risks are continuously evolving.
Following our Arbitrum support, you can now bridge $DEG tokens seamlessly between Avalanche and Arbitrum on our website degis.io/bridge. With that, soon you will be able to take advantage of Income Sharing on Arbitrum and trade $DEG on a soon-to-be-announced DEX! So keep an eye open for those announcements.
How does Protocol Protection work?
Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. It covers most risks that may appear in the decentralized world, and the innovative mechanism covers some blind spots in the current De-Fi insurance market.
Protection Pool+Priority Pool Double Protection Design
The protection pool is the storage pool of protocol protection funds, this pool will pay all compensations. Users can stake the shield into the protection pool to become the underwriter of all insured projects on the Degis platform. After staking, they will receive protection Pool LP tokens.
Each project has a corresponding Priority Pool, which will be used as compensation first after a claim event occurs in this project. Underwriters can further stake the protection pool LP token to the priority pool and enjoy extra mining rewards generated by each priority pool. But this also means that the user needs to bear higher risks for this project, because when this specific protocol has a claim event, the liquidity providers who stake protection pool LP tokens in the priority pool of this protocol will lose their staked protection pool LP tokens and the shield corresponding to the protection pool LP token in the priority pool will be used for compensation first.
Degis Official Links
Twitter: https://twitter.com/ProjectDegis
Instagram: https://instagram.com/project_degis?igshid=YmMyMTA2M2Y=
Telegram Announcements Channel: https://t.me/ProjectDegisAnnouncements
Telegram Chat Group: https://t.me/ProjectDegis
Discord: https://discord.gg/zGP5aWHYFZ
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