Trader Joe Integrates Degis
Degis announced a new collaboration with Trader Joe to offer protection for Trader Joe via Protocol Protection.
In addition to $JOE Price Protection, Degis will offer game-changing insurance coverage to Trader Joe users by integrating Trader Joe into cross-generational Protocol Protection product. They hope the collaboration can protect Trader Joe users from on-chain risks, and provide them with a safer crypto environment.
Trader Joe Integrates Degis – How does Protocol Protection work?
Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. Whether it is a smart contract hack, a cross-chain bridge theft, or a series of protocol security events such as rug pull, Degis will provide users with corresponding protection.
“Protection Pool + Priority Pool” Design
Degis Protocol Protection pools consist of two parts: Protection Pool and Priority Pool. The Protection Pool is the pool that provides protection to all insured protocols on Degis platform. Under Protection Pool, there are specific priority pools for every insured protocol (i.e. Priority Pool A is the specific insurance pool for Protocol A).
Degis is the first protocol to propose dual protection pools model. By the “Protection Pool + Priority Pool” design, underwriters can put their funds into the protection pool and underwrite all protocols that are insured by Degis protocol. As a result, underwriters can earn premium income from all protocols that exist on the platform, which greatly improved the capital utilization for underwriters.
In the meantime, for Trader Joe, underwriters can stake the Protection Pool LP tokens into the specific Trader Joe Priority Pool and enjoy extra premium income.
The design of Degis “Protection Pool + Priority Pool” allows users to underwrite multiple projects at the same time. Trader Joe Integrates Degis, which greatly improves the utilization of funds while ensuring full compensation, and also brings more generous rewards to underwriters.
About Trader Joe
Trader Joe is a one-stop decentralized trading platform on the Avalanche network. Since its launch, the platform has attracted over $1.5bn in assets and has gained backing from some of the most widely recognized investors in the industry.
About Degis
Degis is the next-generation all-in-one protection protocol, the first on Avalanche. Degis will offer exhaustive protection to users and traders. Offer a decentralized protection market and ultimately bring scalable risk management to the crypto world.
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