The crypto market is extremely volatile and any factor such as inflation or war can greatly affect assets. Degis, the all-in-one protection market built on the Avalanche network, strives to protect users’ assets from all possible risks. 

Degis is the first all-in-one protection protocol built on Avalanche. The ultimate goal is to build a universal crypto protection platform, shaping a decentralized protection ecosystem. Protecting crypto assets is always the mission of Degis, and blockchain technology is going to offer protection to every part of the world.

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. With blockchain infrastructure, these issues can be solved and better performed via smart contracts.

To tackle existing problems, Degis is focusing on wider cover areas, capital liquidity aggregation and instant payouts. Degis is establishing a new paradigm for crypto insurance. 

On Degis, users can  protect themselves from token price volatilities, impermanent loss, wallet risks and even smart-contract insurance. Degis is going to fill the void of the current decentralized finance (DeFi) insurance world.  To provide a better experience for every user, Degis is built with three main characteristics to protect, earn and play. Every contributor, whether buying or selling insurance, will be incentivized by Degis tokens. 

The Naughty Price: Protecting token price volatility

The Naughty Price is the next generation of token price protection. The product covers token price volatility risks by deploying protection pools. Currently, most insurance protocols focus on covering smart contract flaws and protocol hacks. On Degis, the Naughty Price system covers token price fluctuation, which suits a much wider market.

There are three main roles in this system, including creator, provider, buyer and seller. The provider deposits USD Coin (USDC) into the policy pool to provide liquidity and gets liquidity provider tokens as a reward, which can be staked for mining the Degis (DEG) token. Creators deposit USDC into the right policy pool and receive the same amount of naughty tokens. In the graph below, AVAX30L tokens are protection that covers Avalanche (AVAX). After creation, creators can sell naughty tokens to the left policy pool before the expiration date. The left policy pool is an automated market maker (AMM) based capital aggregation pool where trades between buyers and sellers, naughty tokens and USDC, are happening constantly. When a naughty token hits its expiration date, the payout is decided by the price of the token.

Providers can only deposit USDC into the right policy pool, and the protocol will mint a fractional amount of naughty tokens according to the current exchange ratio between naughty tokens and USDC. At any time, providers can redeem their capital based on the current exchange ratio. The Uniswap AMM mechanism is used as a reference.

DEG Token: Specially designed to protect

DEG is an ERC-20 protocol token and its total supply is 100 million. As the native token for the Degis platform, DEG tokens can be staked into the treasury for protection pool premium sharing. Additionally, DEG tokenholders can stake to create veDEG tokens for an initial protection boost. More details will be released later.

The Degis roadmap: Building toward a protection aggregator

The year 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 the crypto space.

It all begins at token price protection — Naught Price — and leads to impermanent loss protection, smart contract protection and eventually the meta market. Degis is going to fill the void of current DeFi insurance and also integrate with protocols to cover risks.

The journey of Degis has just begun. Join the community and help build: