Dego Finance (DEGO) news

What is Dego Finance (DEGO)?

DEGO Finance is a decentralized platform that combines NFT and DeFi tools. Its whitepaper describes the protocol as an open and independent NFT ecosystem that attracts users to the blockchain space. The NFT suite offers services covering the NFT lifecycle, allowing anyone to issue, auction, and trade NFTs. DEGO Finance supports the spirit of decentralization, openness, liberty, and growth.

How does Dego Finance (DEGO) Work?

It's worth noting that DEGO Finance is also working on an NFT protocol that aims to provide a cross-chain second-layer infrastructure. By building on multiple blockchains such as Binance Smart Chain (BSC), Ethereum, and Polkadot, the platform allows its blockchain projects to attract users, distribute tokens, and create more NFT applications in the future. Additionally, DEGO Finance offers a comprehensive suite of products to cover the entire lifecycle of NFTs:

- NFT Foundry: NFTs are generated by depositing tokens during the minting process and are burned to release the deposited tokens.

- NFT Mining: Users can stake NFTs and earn rewards.

- Auctions: Items are auctioned off using ETH bids.

- NFT Marketplace: DEGO Finance users can trade NFTs on Treasureland, a multi-chain NFT collection protocol that facilitates NFT minting, auctions, and more.

- ScanDrop: A Dapp for DEGO Finance users that involves scanning QR codes for NFTs.

What is the DEGO Token?

The DEGO Finance Token is a utility token based on the ERC-20 standard and is issued on the Ethereum platform. DEGO token holders can participate in platform management by voting on economic and growth-related matters. The tokens are also used for NFT minting, staking, auction, and trading. Transactions with DEGO tokens contribute to a dividend pool, which is the total amount of money set aside for bets on a specific pool, minus refunds and statutory deductions. Additionally, the tokens incentivize user participation in reward hunting, referrals, and other activities.