Why DEGO Finance Should Be Your Next Defi Resort

in #defilast year

Decentralized Finance (DeFi) is the future of cryptocurrency trades. DeFi assets have steadily grown to billions of dollars by market capitalization. And yet the potentials of the DeFi industry aren’t fully tapped because of some challenges.

It is time to nip those issues in the bud via the DEGO Finance protocol, which is touted to usher in a new generation of Decentralized Finance (DeFi) transactions.

Why DEGO Finance?

Understandably, this isn’t the first time you are coming across a DeFi project that wants to address potential issues in the DeFi sector. Yet, if the current challenges are not yet solved, it makes sense that a new platform as DEGO Finance takes a shot at fixing some of the existing issues.

Here are some of the issues in the DeFi industry that triggered the inception of the DEGO Finance protocol:

Economic Freedom is Still Far Away

The first challenge in the traditional DeFi industry is the dominance of whales, as characterized by their preference for specific DeFi assets to be pumped and dumped at will.

That doesn’t uphold the tenets of decentralization because it means that financially-buoyant cryptocurrency investors can always control and manipulate the direction of the DeFi market.

Decentralization is a Hoax

Obviously, the clamour for decentralized transactions wouldn’t make sense as it ought to because the DeFi industry isn’t decentralized when looked into in-depth.

From whales that manipulate the market to DeFi asset team members that retain more governance controls; the DeFi industry is yet to gain full autonomy.

DEGO Finance: The Future of DeFi Transactions?

All hope isn’t lost as far as DeFi transactions are concerned because DEGO Finance presents more opportunities for DeFi investors and traders alike.

In this article, you will learn about the strategies that this project is using to fast-track DeFi transactions.

Community Governance

In line with decentralized transaction principles, DEGO Finance is prepared to return the control of the broader ecosystem to the community members.

As a member of the DEGO Finance Decentralized Autonomous Organization (DAO), you are empowered among many other things to:

Initiate and propose DeFi projects that you are confident will be in the best interests of other DeFi investors.

Voting for or against DeFi projects using your DEGO Governance Token.

Access to important information

I must mention that the unique DEGGO Finance protocol is committed to developing strong communities like that of Bitcoin (BTC). The idea is to create a solid community that will foster the decentralized tendencies of the protocol while being a key participant in the fundamentals that will drive massive adoptions for the protocol.

Use of Deterministic Algorithms for Liquidity Mining

Contributing to the liquidity pool of Decentralized Exchanges (DEXs) is one of the focal points in the cryptocurrency industry. And DEGO Finance protocol is committed to bolstering the growth of liquidity mining by ensuring that fair advantages are availed every miner.

By and large, the DEGO Finance liquidity mining with algorithmic adjustments is patterned to break the monopoly of cryptocurrency whales who tend to earn more liquidity rewards because of the huge volumes of their trades.

The major concept here is to place a threshold, which when attained, prevents investors from placing more buying or selling orders.

Fairness

For every investor to thrive in the cryptocurrency industry, fairness must be prioritized. Transactions will only be fair and open for everyone to see if the DeFi system powering the same is designed to work that way.

When trading via the DEGO Finance decentralized protocol, you are confident that fairness will be at the core of every innovation that the protocol is pushing forward.

In terms of fairness, DEGO Finance entrusts the same to the algorithm because algorithmic functions are highly prioritized in the broader DEGO Finance ecosystem.

Second, the transparency of DeFi transactions is buoyed by the complete transparency of the audit system, as well as the disclosure of every information and transaction via dedicated smart contracts.

Algorithm-Powered Security

The security of the DEGO Finance platform is buoyed by the use of algorithms and Artificial Intelligence. I must mention that most aspects of the DEGO Finance protocol are powered by algorithms because the protocol wants to keep off human inputs as much as possible.

So, in terms of the algorithm-powered security, we are looking at Artificial Intelligence endowed by the code and Ethereum smart contracts to protect the protocol from all security threats.

Conclusion

You should consider the opportunities presented by DEGO Finance protocol because it has some of the missing attributes that will take the Decentralized Finance (DeFi) industry to the next level.

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Nice, will read more about the project

Very nice information, will check it out

DEGO is really changing the DeFi landscape, expanding the opportunities from yield farming to NFTs.

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