With Degis’ complete insurance and Hexagate’s cutting-edge security API and extension, this alliance will be a game-changer for the crypto community.

Degis Partrnership with Hexagate will benefit the crypto community and make it safer. Hexagate is a decentralized exchange (DEX) that operates on the Ethereum blockchain. It allows users to trade various ERC-20 tokens in a permissionless and trustless environment. Hexagate utilizes smart contracts to execute trades, and users retain control of their private keys and assets at all times. As a result, Hexagate eliminates many of the risks associated with centralized exchanges, such as hacking, fraud, and theft.

Degis aims to provide users with a fast, secure, and decentralized trading experience with low fees and high liquidity.

About Hexagate

Hexagate browser extension analyzes transactions before users sign them, flagging for cybersecurity and financial risks, including phishing, front-end hacks, and counterparty risks. scam projects and rug pulls, market manipulation, NFT fair price, permanence, and authenticity.
Hexagate recently included Avalanche as a supported blockchain.

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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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SOURCE: https://degis.medium.com/degis-x-hexagate-partnership-announcement-434eb0ac1a9f

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Degis will provide optional insurance to the BTC Bridge and LayerZero’s BTC.b bridges on February 14th. By adding greater security, it enables more BTC users and institutions to use BTC.b on Avalanche and other chains and take advantage of DeFi’s composability. Degis New Collaboration with Ava Labs, A significant accomplishment for Degis is the inclusion of the BTC bridge under the Degis Protocol Protection.

How does Protocol Protection work?

Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. It covers most risks that may appear in the decentralized world, and the innovative mechanism covers some blind spots in the current De-Fi insurance market.

Protection Pool + Priority Pool Double Protection Design

The protection pool is the storage pool of protocol protection funds, this pool will pay all compensations. Users can stake the USDC into the protection pool to become the underwriter of all insured projects on the Degis platform. After staking, they will receive protection Pool LP tokens.

Degis platform will cover a protocol’s Base Annualized Premium and Maximum Coverage Ratio if veDEG holders vote for it. Underwriters may stake the protection pool LP token to the priority pool to get more mining rewards.

Protocols to Provide Protection & Premium, the maximum coverage ratio

Degis platform coverage may be proposed and voted on by veDEG holders. If over 50% veDEG votes in favor, Degis will provide Protocol Protection to that protocol with the initial Annualized Premium and Maximum Coverage Ratio.

• Initial Annualized Premium

Represents the base premium amount required to purchase protection for a project.

• Maximum Coverage Ratio (Quota)

Maximum Coverage determines how much coverage the platform can provide.

About Ava Labs

Ava Labs makes it simple to launch decentralized applications on Avalanche, the fastest smart contracts platform in the blockchain industry. Empowering people to easily and freely digitize all the world’s assets on one open, programmable blockchain platform.

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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.

Website | Twitter

SOURCE: https://degis.medium.com/degis-will-offer-protection-to-ava-labs-btc-bridge-via-protocol-protection-94ce2f9e5e54

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Degis will switch to using USDC, a more dependable, reputable, and widely used stablecoin, as their underwriting asset as soon as the procedure is complete. Through the use of their aggregated pool flash loan capabilities, this change simplifies the process of using their products, takes away a layer of complexity, and increases capital efficiency.

Background and Benefits of the Discontinuation

Degis Announce SHIELD Discontinuation was initially proposed to handle all ecosystem transactions and present a safe way to expose yourself to Degis. It now offers an extra complexity layer that also appears to users as a risk layer. Meanwhile, it has a single underlying token (USDC) with no added benefit to utilizing Shield. So we would like to Change smart contracts to accept USDC only and perform swaps from other stablecoins to USDC on the front end.

They believe it can also increase trust in Degis contracts and increase APR for underwriters. Degis is always trying to develop their products through users’ feedback.

What Now?

Burning your Shield (SHD) to claim the underlying USDC is not urgent, however they do suggest you to do so before the end of January 2023 since they will keep the Shield component of their dApp operational for around a month. Users may utilize their preferred chain explorer to finish the previous levels after that. Their team is ready to answer questions and help users get their money back.

Price Protection will begin utilizing USDC on the next round, January 7. Protocol Protection will need a new deployment and the date is to be decided. Keep an eye open for announcements. They will let their community know as soon as possible.

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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SOURCE: https://degis.medium.com/shield-discontinuation-annoucement-831a2acb0d91

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Protection Pool + Priority Pool Double Protection Design

The protection pool is the storage pool of protocol protection funds, this pool will pay all compensations. Degis Collaboration with Vector Finance, users can stake the shield into the protection pool to become the underwriter of all insured projects on the Degis platform. After staking, they will receive protection Pool LP tokens.

Each project has a Priority Pool that will be used first to compensate claim events. Underwriters can stake the protection pool LP token to the priority pool to get more mining rewards. This protocol’s priority pool’s protection pool LP tokens will reward claims before other pools’ tokens, increasing user risk. Liquidity providers who stake protection pool LP tokens in the priority pool of this protocol will lose them.

About Vector Finance

Vector Finance is the number one yield booster on Avalanche. They incentivize conversion of JOE and PTP on their platform, accrue ve-token boosts on those protocols, and pass that on to their users. Vector is the top owner of vePTP and veJOE on Avalanche.

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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.

Website | Twitter

SOURCE: https://degis.medium.com/degis-will-offer-protection-for-vector-finance-via-protocol-protection-baf97a48e8e

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Price Protection is a revolutionary technology that helps consumers reduce the loss caused by high volatility in this fast changing market.

Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. The innovative mechanism covers some De-Fi insurance market blind spots and most decentralized risks.

RoboVault’s goal is to become a market leader in the development of advanced algorithmic strategies for DeFi users, through advanced automation & risk management tools, with the ability to execute quantitative strategies on-chain, giving users access to strategies which are typically only accessible to institutions within traditional finance markets.

About Robovault

RoboVault utilizes Delta Neutral Strategies and Off-Chain Automation to earn users safe and secure Real Yield on their assets. RoboVault’s mission is to offer their customers secure above market yields on blue chip assets, through the use of advanced automation and risk management tools. All without requiring any active management from users, so they can sit back while they earn safely!

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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.

Website | Twitter

SOURCE: https://degis.medium.com/degis-x-robovault-partnership-announcement-79bf98a1e16a

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Through this collaboration, Degis Collaboration with Defrost Finance users will be able to position their capital efficiently and have some extra peace of mind. Altogether, they will create a safer Web3 environment!

Introduction to Protocol Protection

Protocol Protection is the next-generation protection product that offers exhaustive protection for all kinds of on-chain risks. It covers most risks that may appear in the decentralized world, and the innovative mechanism covers some blind spots in the current De-Fi insurance market.

“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 introduces dual protection pools. Underwriters can put their funds into the protection pool and underwrite all Degis protocol-insured protocols. Underwriters can earn premium income from all platform protocols, improving capital utilization.

In the meantime, for Defrost, underwriters can stake the Protection Pool LP tokens into the specific Defrost Priority Pool and enjoy extra premium income.

Dynamic premium design

In order to make the premium better reflect the real market conditions and the risk of the project, Degis’s dynamic pricing model will adjust the premium price based on the supply and demand relationship of protections. Degis’s premium model includes two parts: base premium + dynamic premium.

The insured protocol’s base premium will be decided by community vote on Degis. All veDEG holders decide the first base premium for Defrost, and the annualized price for the first 7 days is the basic premium. The market will set the premium after 7 days. The number of Protection Pool LP tokens in each protocol Priority Pool affects pricing.

About Defrost

The Defrost V2 is Avalanche’s premier native leverage trading platform. They provide users with the opportunity to trade futures on mainstream crypto assets using a completely decentralized, permissionless platform.

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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.

Website | Twitter

SOURCE: Medium

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How does Protocol Protection work?

Protocol Protection is a next-generation protection device that provides comprehensive protection against all types of on-chain threats. It covers the majority of dangers that may arise in a decentralized environment, and the new approach fills several gaps in the present De-Fi insurance market. Degis Integration with Platypus

Protection Pool + Priority Pool Double Protection Design

The protection pool is the storage pool for protocol protection monies, and it is responsible for paying all compensations. Users can stake the shield in the protection pool to underwrite all insured Degis projects. They will get Pool LP tokens as a reward for staking.

Each project has a Priority Pool that will be utilized first to compensate claim events. Underwriters may stake the protection pool LP token to the priority pool to get more mining rewards. If this protocol has a claim event, liquidity providers will lose protection pool LP tokens and the shield.

Protocols to Provide Protection & Premium, the maximum coverage ratio

Degis will give Protocol Protection with the first Annualized Premium and Maximum Coverage Ratio if over 50% veDEG votes in favor.

About Platypus

Platypus Finance is a stable cryptocurrency single-side AMM on the Avalanche blockchain (ERC20 tokens).The protocol’s smart contracts promote security, self-custody, censorship resistance, and capital efficiency.

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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.

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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.

Website | Twitter

About Trader JOE

SOURCE:

https://degis.medium.com/degis-will-offer-protection-for-trader-joe-via-protocol-protection-dc1a8c0d8c7a

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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.

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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.

Website | Twitter

SOURCE:

https://degis.medium.com/degis-will-offer-protection-for-trader-joe-via-protocol-protection-dc1a8c0d8c7a

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It will be offering exhaustive insurance coverage to GMX users by incorporating GMX in our novel Protocol Protection product. Degis Collaborates with GMX, They believe that under this protection, users are guaranteed sufficient compensation in case any unforeseen. Undesirable situation were to present itself on-chain.

How does Protocol Protection work?

Protocol Protection is a next-generation protection product that offers exhaustive protection against all kinds of on-chain risks. Degis Collaborates with GMX, In Protocol Protection, they adopt both a unique pricing model and aggregate liquidity.

Unique Pricing Model: Base Premium + Dynamic premium

Premium for the Degis Protocol Protection is determining by a base premium p% and the dynamic pricing model. For GMX, the initial base premium is set by all the veDEG holders, and the annualized premium in the first 7 days will be fixing at the base premium. After 7 days, the premium price will be determined by the market. The amount of Protection Pool LP tokens in each protocol Priority Pool can also influence the price.

In the meantime, both the community and third-party auditing companies can propose repricing the base premium (i.e. Repricing a%). The approval of the repricing proposal will be deciding by veDEG holders.

By applying Degis dynamic pricing model, Protocol Protection can provide users with more accurate and preferential premiums, according to the risk of the insured item and changes in market supply and demand.

Aggregate liquidity: Protection Pool + Priority Pool model

In contrast to the current insurance market protocols, Degis Protocol Protection has set up a Protection Pool on top of the Priority Pool. Users can provide protection for all insured projects on the platform by providing liquidity to the Protection Pool. This ensures that the platform reserves are sufficient. The utilization rate of funds is greatly improving. At the same time, liquidity providers can also obtain premium income from all insured projects.

About GMX

GMX is a leading decentralized exchange for perpetual futures and swaps, available on the Arbitrum and Avalanche blockchains. The protocol allows traders to long or short BTC, ETH, AVAX and other top cryptocurrencies with up to 30x leverage directly from their own wallet.

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About Degis

Degis is the next-generation all-in-one protection protocol, the first on Avalanche. We offer exhaustive protection to users and traders, offer a decentralized protection market and will ultimately bring scalable risk management to the crypto world. We’ve already launched Price Protection with the initial matching mechanism, and the coming product will be Protocol Protection, which covers the risks regarding smart contracts, rug pulls, etc. More amazing features and functions will be developing in the future.

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SOURCE:

https://degis.medium.com/degis-will-offer-insurance-for-gmx-via-protocol-protection-afde70f4db19

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