Degis Protocol Protection for Trader Joe
Degis Protocol Protection for Trader Joe, In addition to $JOE Price Protection
Degis collaboration with Trader Joe into their cross-generational Protocol Protection solution to deliver game-changing insurance coverage. The agreement should safeguard Trader Joe users from on-chain dangers and make crypto safer.
How does Protocol Protection work?
Protocol Protection, the next-generation protection solution, covers all on-chain threats. Degis protects users against smart contract hacks, cross-chain bridge thefts, and rug pulls.
“Protection Pool + Priority Pool” Design
There are two Degis Protocol Protection Pools: the Protection Pool and the Priority Pool. The Protection Pool is a pool that protects all insured procedures on the Degis platform. There are separate priority pools for each insured procedure under Protection Pool (i.e. Priority Pool A is the specific insurance pool for Protocol A).
The “Protection Pool + Priority Pool” architecture allows underwriters to deposit their monies into the protection pool and underwrite any protocols guaranteed by Degis protocol. As a consequence, underwriters may generate premium revenue from all platform protocols, improving capital usage.
For Trader Joe, underwriters may stake Protection Pool LP tokens into the Trader Joe Priority Pool and earn additional premium income.
Degis’ “Protection Pool + Priority Pool” enables customers to underwrite numerous projects at once, improving fund use and underwriter benefits.
Community vote will determine the insured protocol’s base premium on Degis. All veDEG holders determine Trader Joe’s initial base premium, which is the first 7 days’ annualized premium. After 7 days, the market will set the premium. Each protocol Priority Pool’s Protection Pool LP tokens may also affect pricing.
About Degis
Degis, the all-in-one protection market built on Avalanche, aims to protect your asset from every possible risk. The ultimate goal is to build an universal crypto protection platform and shape decentralized protection ecosystem.
