DEGO
Cross-chain NFT and DeFi modular infrastructure platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
$1.8m | Seed | ||
| Total Funding | 000k | ||
Dego Finance is a decentralized ecosystem that merges Non-Fungible Tokens (NFTs) with Decentralized Finance (DeFi), functioning as both an open NFT platform and a Web3 incubator. Launched in September 2020, the project was established by an anonymous team to maintain focus on development over public recognition. While the core team is anonymous, Xavier Lee has been credited as a core contributor.
The platform initially launched on the Ethereum blockchain and became a notable project on the BNB Chain, later expanding to other blockchains like Polkadot and TON to offer a cross-chain infrastructure. Its modular design, inspired by LEGO bricks, allows various product elements to be combined into new applications, fostering a versatile ecosystem. Dego Finance provides a suite of tools covering the entire lifecycle of an NFT, including minting, trading, auctions, and mining. This infrastructure allows blockchain projects to acquire users, distribute tokens, and build diverse NFT-powered applications. In 2021, the project was launched on Binance Launchpad and won an award for Best Innovation and Product Design from Binance.
The business model revolves around its native utility token, DEGO, which is an ERC-20 and BEP-20 token. The token is central to the ecosystem's operations, used for governance votes on platform development, paying transaction fees, and participating in NFT-related activities like minting and auctions. DEGO token holders can also receive dividends from a pool funded by a portion of network transaction fees. The platform's ecosystem includes Delta, a Web3 launchpad that also functions as a staking pool for the DEGO token. After experiencing a hack in 2022, Dego Finance executed a token migration and has since pivoted to focus more on creating NFT use cases and incubating new Web3 projects in areas like GameFi, DeSci, and DePin.
Keywords: NFT, DeFi, cross-chain, decentralized finance, non-fungible token, Web3 incubator, liquidity mining, yield aggregation, modular design, governance token, DEGO, GameFi, NFT marketplace, blockchain infrastructure, crypto, staking, digital assets, ERC-20, BEP-20, Polkadot, Binance Smart Chain