Degis Testnet Competition

Hey Degisons, hope you are doing great in the past few weeks!
During Testnet V1, we received lots of great suggestions from our passionate and innovative community members. So starting from the end of Dec, our team has been dedicated to enhancing user interface. Now, you will be able to enjoy a much more splendid website!
From 00:00 Feb 11, 2022 (UTC) to 23:59 Feb 25, 2022 (UTC), we will hold our second testnet event. Unlike testnet V1, winners will be determined by rank of $DEG amount.

About Competition

In the competition, we will limit the amount of mock USDC each address can get( one address can only mint 10,000 mock USDC during the whole testnet period). Participants can earn $DEG tokens via different strategies on the platform. In the end, the winners will be determined by how many $DEG tokens the participants have in their wallets.
Reminder: Transactions of any token between two addresses are prohibited. Each address will get the same amount of mock USDC tokens for testing. Participants can only earn DEG tokens by interacting with Degis smart contract. The best strategy wins the game.

Tutorial

The tutorial will cover basic introduction about how to use Degis platform.

Add Avalanche Fuji Testnet

There are two common ways:
1. Chainlist

Visit https://chainlist.org and connect your Metamask wallet

  • Search ‘Avalanche Fuji Testnet’, click ‘Add to Metamask’
  • Switch network to Avalanche Fuji testnet

2. Custom RPC in Metamask
- Open Metamask and click to select network

  • Select ‘Custom RPC’
  • Save and switch to ‘Avalanche Fuji Testnet’

Get mock AVAX for gas fee

  1. Switch to ‘Avalanche Fuji Network’ in Metamask

2. Visit https://faucet.avax-test.network/ to get mock AVAX tokens

Basic functions in Degis testnet V2

Visit https://testnet.degis.io/
1. Click the button shown on the page below to get mock USDC tokens at the top of the website.

2. Miserable Flight
The Miserable Flight is the next generation of flight delay protection against flight delays.
2.1 Buy Miserable Flight Protection
To search Flight, input your departure city, arrival city, departure date and the number of flight delay cover to buy. Flight NO. is optional.

To purchase protection, click ‘Buy’.

2.2 Provide in the Miserable Flight Pool
To ‘Provide’ means providing liquidity to the miserable flight pool, in which you will gain shares of premium income and LP tokens.
In the “Provide” part, you can deposit funds into the miserable flight pool, check your balance, and check the time when you can withdraw your funds. Every deposit or withdrawal will be shown in the rectangle part.

3. Naughty Price
The Naughty Price is an innovative price volatility cover to protect your crypto assets.
3.1 Select Token
Select the token you want to protect. (In this part, we will use BTC as an example)

3.2 Select Cover Type
Select the type of cover (upside/downside) by clicking ‘more’

3.3 Operations(Create/Redeem/Buy/Sell/Provide)
Stake 1 USDC to create 1 cover.

By switching this icon, you can redeem the funds you staked when creating cover.

After creating cover, you can sell it into the naughty price pool.
Or you can directly buy cover.

To provide liquidity into the naught price pool, you need to provide both USDC and cover.

4. Mining
4.1 Buyer Pool
Buyers will receive buyer incentive token after purchasing protection on Degis, which can be staked in Buyer Pool to mine $DEG. In this pool, rewards will be distributed periodically and Buyer incentive tokens will be burnt after $DEG is rewarded.

4.2 Miserable Flight Pool
Liquidity providers of Miserable Flight pool will receive LP tokens after providing liquidity in miserable flight pool, which can be staked in Flight Pool to mine $DEG.

4.3 Naught Price Pool:
For Naughty Price pool providers, they will receive LP tokens after providing liquidity in Naughty Price Pool, which can be staked in corresponding pools to mine $DEG

4.4 Harvest
Claim your $DEG rewards by clicking harvest.

4.5 Unstaking
Switch the icon to unstake LP tokens.(Reminding: Buyer Incentive Token can not be unstaked after $DEG Rewards are distributed)

5. Treasury box
The Treasury box is a place where $DEG holders share premium income with fun.
5.1 Buy Ticket
In this part, you can stake 10 $DEG for one entry ticket. Lottery Prize winners will share the profits from miserable flight pool and naught price pool.

5.2 Winning Rules
You can find the details of winning rules here.

5.3 Redeem
Check your tickets in ‘My Ticket’. By clicking Redeem, all of your tickets will be burned and your DEG Tokens will transfer back to your wallet.

6. Dashboard
You can check general information at the Dashboard page.

Join the Competition!

After 7 months of hard work, we are finally about to launch in March. Before officially launching, we would like to call every Degison to join our testnet V2. Any suggestions on the website are welcomed.
Also, we have prepared special rewards for the top-ranked participants. Join the competition and good luck!

Degis official links:

Twitter: https://twitter.com/ProjectDegis
Telegram Announcements Channel: https://t.me/ProjectDegisAnnouncements
Telegram Chat Group: https://t.me/ProjectDegis
Discord: https://discord.gg/ProjectDegis

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