Degis is the next generation insurance protocol designed to disrupt the traditional market, leveraging smart contract and the transparency of a blockchain technology.
Degis seeks to solve the two major problems, excessive operation cause and non transparent claims.
How Degis is differ from Traditional Insurance ?
In the traditional insurance industry, people are often frustrated by cumbersome purchasing procedures and complicated claiming processes. Due to this issue, the insurance market blocks a mass number of potential users outside. With blockchain infrastructures, these issues can be solved and better performed via smart contracts.
To tackle the existing problems. Degis focuses on wider cover areas, capital liquidity aggregation and instant payouts. Degis is establishing a new paradigm for crypto insurance.
On Degis, users are able to protect themselves from token price volatilities, impermanent loss, wallet risks and even smart contract insurance. Basically, Degis is going to fill the gap of the current DeFi insurance world. To provide a better experience for every user, we build Degis with 3 main characteristics: to protect, to earn, to play. Every contributor, no matter if you are buying or selling insurance, will be incentivized by Degis tokens.
Degis offers four forms of future protections.
1) Token Model : Token Model which allows participants to tokenized the protection event and used an Automated Market Maker (AMM) pool to circulated in the secondary model.
For example, say someone of them purchase a protection and in case a bitcoin drops below a certain price at a specific date. The participants would mint a protection token and stake money in the policy pool
If the Bitcoin drops below the set price the protection token holders will be paid out. If the price does not drop, the protection token creator get back the money deposited into the pool. Liquidity providers providing tokens to the pool would provide liquidity in USDTs, protection tokens and 2% of the transaction fees is also given to the Liquidity Providers.
2) NFT Protection Model : The next form of protection is the NFT Protection Model which utilizes the algorithm to predict the price of each protection event and sell to buyers as an NFT. Liquidity providers can stake their money in the pool to share the risk of compensation and enjoy the income of protection. The NFT model will be used for the protection against events such as flight delays.
3) Meta Market : The next form of future protection is the Meta Market, where all existing protection protocol NFTs, tokens can be traded. Users will be able to generate own protection easily and traded on open market.
4) DAO Model : Lastly we have DAO Model which is protocol form of protection. DAO take risk together where one protocol is hacked the proportional of staked funds will be used to compensate the loses.
Tokenomics
DEG is an ERC-20 token and its total supply is 100 million. As the native token for Degis Platform, DEG tokens can be staked into treasury for protection pool premium sharing. Moreover, DEG holders can stake to create veDEG tokens to attend initial protection boosting. Detailed distribution proportion as follow.
Conclusion :-
2022 is the year of the DeFi ecosystem explosion. Degis, as the first all-in-one protection protocol originally built on avalanche, is creating a new path for crypto space.
Starting from token price protection (Naught Price) to impermanent loss protection, smart contract protection, and eventually to the Meta Market, Degis is going to fill the gap of current DeFi insurance and also integrate with protocols to cover their risk.