Degis will offer protection for Platypus via 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 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.

Protocols to Provide Protection & Premium, the maximum coverage ratio

veDEG holders can propose and vote on whether Degis platform will cover a protocol and its Base Annualized Premium as well as Maximum Coverage Ratio. If over 50% veDEG votes in favor, Degis will provide Protocol Protection to that protocol with the initial Annualized Premium and Maximum Coverage Ratio.

About Platypus

The Platypus Finance protocol is a single-side AMM (decentralized exchange) designed for exchanging stable cryptocurrencies (ERC20 tokens) on the Avalanche blockchain. The protocol is implemented as a set of smart contracts designed to prioritize censorship resistance, security, self-custody, and maximum capital efficiency. Platypus features single-token provision, eliminating impermanent loss risk for liquidity providers, and minimizing slippage for traders.

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.

Degis Official Links:

Twitter: https://twitter.com/ProjectDegis

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