Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

DEGO: Your building blocks of financial instruments in the Decentralized Finance (Defi) using the blockchain for the sustainability and community-owned project by frankydoodle

View this thread on steempeak.com
· @frankydoodle ·
DEGO: Your building blocks of financial instruments in the Decentralized Finance (Defi) using the blockchain for the sustainability and community-owned project

Good morning everyone here on Crypto space! Here is your Mr. Decentralized again that is about to tell and explain to you guys another exciting project in the blockchain. As far as we know, there has been a massive DEFI boom here in the crypto space for now. This has made different people earn an insane amount of APY and earn a good amount of money. But with good news, there are also people who took advantage of this craze and deployed fake projects wherein they are like fly-by-night type of projects that just wanted to get the people's money and go away. Many people especially the legitimate developers of the DEFI space and community of course do not want those kinds of people to be around. Now, here is where DEGO team and their trail-blazing project comes in! 

DEGO can be derived from the word 'LEGO'. It means building blocks on the DEFI space. With the innovations on the crypto space from Bitcoin to Ethereum and other financial derivatives built on the blockchain. The first time I saw DEGO, I could say that DEGO is like taking you back to the nostalgic era of operating systems.  It looks like a Windows 98 style of the interface but the programming and the financial products inside it are quite unique if you would ask me! 

Now, let me talk about the different features of the DEGO Finance and how it is different from other defi protocols. Aside from that, I will tell you guys about the different competitive advantages of using DEGO.


# DEGO.FINANCE features and capabilities

## 1. Dego dashboard


---> The DEGO dashboard is where you can see the overall stats and metrics of the DEGO decentralized finance dapp. As you can see in the dashboard above which I took a screenshot at the time of this writing, 1 DEGO=$1.23 USD at the moment. Because we are in defi boom, I am extremely in positive sentiment with DEGO this time that it could appreciate in price from 10x to 20x. That is just my prediction and opinion. Not a financial advice guys! 

The total value locked is how much in the pair of tokens is being supplied as liquidity to the DEGO pool to mine the DEGO through the use of 'liquidity mining' type of yield farming. It also shows the dividends and other stats that are important to know what is currently trending in the DEGO ecosystem. You could also see in the DEGO dashboard the APY  or also called as 'Annual percentage yield' which varies everytime depending on how much liquidity token pool is being supplied to the system. As of this writing, as you can see, the DEGO-UNI has the highest APY. That's an insane gains  right? That is the power of DEGO and its system. You should also be aware of what we call impermanent loss in providing liquidity because if one token of the pair get lowers or higher, the pool balance needs to equalize again and the ratio seeks always the equilibrium so that 1 part always equalize to its pair. But no worries! That is why there is an incentive what we call as DEGO token. I will talk about it later.


## 2. Referral


--> I know what you are thinking. That this is a referral game again? A big NOOO! This is for just the rebates of the DEGO finance for every time your referral buys DEGO and other products surrounding the DEGO Dapp. 10% is the commission as you can see in the screenshot. It only shows that DEGO gives back to the community and you get rewarded for spreading the news about the DEGO finance ecosystem. 


## 3. DEGO NFT



---> If you are into DEFI, I know that you have heard of NFT. When we say NFT, it is called as Non-Fungible Tokens. When we say Non-fungible, these are types of tokens under the Ethereum blockchain that is under ERC-721. which means it is distinguishable from each other and it cannot be have a duplicate. Just like each human being, we are unique to each other regardless you have a twin brothers or sisters, there is a big difference with you two. That is how NFT are made as well. Now, these NFTs can also be auctioned in the near future or sold in the DEGO marketplace. 

By the way, I just claimed yesterday an NFT that is a silver pickaxe. I used it for mining DEGO in the La Rinconanda pool.  I was happy because it is really mining DEGO! Here is the screenshot of my DEGO mining dashboard. 


It was fast! If you are able to claim your NFT, prepare for gas fees as well. Depending on the ETH gas fees and other factors, you need to be prepared to claim the NFT to mine, approve it and then start to stake and mine in the Mining pool. There is a having as well in this DEGO pool. The earlier the better always! Depending on the pickaxe that you got, the more successful and faster your mining of DEGO is.


## 4. DEGO staking


This is the staking dashboard guys. This is where you could supply your liquidity pool tokens or 'LP tokens' to be able to earn DEGO which is called as liquidity mining. This is different from the NFT mining above that I showed to you. 
Take a look at this screenshot. 


For this example, UNI-DEGO pair, you need to have a 50/50 share of both tokens. So, if you have funds, this is an easy step to remember. Just split it into two or use Uniswap so that you could see how many of a token of another pair you need to match the UNI-DEGO pair to be supplied to the liquidity pool. You should always have a sufficient amount of eth to pay for gas fees always! It is also better to have a big chunk of money so your returns can easily take away what you have spend for gas and other approvals. 


## 5. Auction--> This is where your NFTs can be sold or you can also buy in here. It is as simple as that. You can buy pickaxes to mine DEGO in the auction pool as well. Whether you are an investor to buy NFTs for the future appreciation in price, or for fun and investing as well, this is good venue to experience. 

## 6. HUNTER


---> As I checked the DEGO documentation, it says in the documents that it 'captures' defi gems and will reward it to all DEGO holders. In my understanding, it seems this is a type of algorithm wherein the 'DEGO hunter' system will be able to farm for us holders of DEGO and allocate the funds into whatever that has the highest yield and rewards in the crypto space. Which is great! Because you do not need to research for a protocol that has the highest yield. All automated!

## 7. Dividends


--> What I saw in the DEGO documentation, that for everytime you are transferring DEGO, the total trading fees has some allocations and will be deducted which will be sent back to the DEGO holders as dividends. The 5% of the total trading fees will be divided into two: The 2.5% will be used to buyback DEGO tokens and those tokens will be burned. When we say burning of tokens, it will be lost forever and making the supply of DEGO less. Making the price appreciate more. While the other half 2.5% will be used to give as dividends to the DEGO holders. Now that is where the whales are made! Because DEGO has a DAO!

## 8. DEGO DAO

-- > During the initial start-up of the DEGO finance, especially from the genesis block, The DEGO team has a multi-sig wallet wherein these governance wallets is at first by the DEGO founding team. But as the time goes by, these multi-sig wallets will be decentralized and will go to the hands of the community governance. Wherein DEGO token holders has the power to vote for the future of the DEGO community. This is where the 'empowering the community' takes place. I am a proud DEGO holder as well! 

This is a snapshot of the DEGO DAO interface wherein you could vote:


You can go to the DEGO DAO page by going here: https://snapshot.page/#/dego/all


# Upcoming and exciting features for the decentralized community

A. DEGOChain


---> DEGO Chain is an upcoming feature wherein I think this will be a cross-chained one because when I see the below portion of the 'ABOUT' of DEGO, I see the Polkadot chain. Which means inter-operability of the blockchain! Amazing!

B. DEGO SWAP---> This is where you can swap tokens to be able to exchange one token to another without going to a centralized exchange. Just connect your wallet and start swapping!

C. DEGO Lending and insurance--> Ah, the meat of the DEFI. You can lend your DEGO and earn rewards. Use other tokens and earn rewards as well. For any smart contract risks, you can also buy coverage of insurance to protect you if you are doing other defi protocols that are still unaudited.

Extra feature: Minesweeper! The classic Windows game!

To summarize, I have a huge recommendation to use DEGO and buy DEGO tokens. Why? Because first of all, the founding team members seems experts in the defi technology, smart contracts and blockchain. I also read that they are becoming a cross-chained project wherein different chains can inter-operate for the cross-chain asset transfer and cross-chaining smart contracts. This project is on a whole new level! An innovation indeed unlike the 1st generation defi platforms.

For more information regarding DEGO finance, you can check out the information below and visit their social media channels as well:

Website: https://dego.finance/home

DEGO Documentation: https://docs.dego.finance/

Telegram: https://t.me/dego_finance

Discord: https://discord.com/invite/xJjSJrd

Twitter: https://twitter.com/dego_finance

Medium: https://medium.com/@dego_finance

Github: https://github.com/dego-labs

About the author

Proof of authentication: https://bitcointalk.org/index.php?topic=5272474.msg55115617#msg55115617

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properties (23)
created2020-09-30 18:14:54
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root_title"DEGO: Your building blocks of financial instruments in the Decentralized Finance (Defi) using the blockchain for the sustainability and community-owned project"
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