Naughty Price Tutorial

Naughty Price Protection is the inital product of Degis which will be released when Degis launch on mainnet on April 1st.

The naughty price protection aims to protect users from highly fluctuated token prices. The market is volatile all the time. Meanwhile, black swan events are also ruining people’s assets. As a result, the protection of prices is especially essential to crypto space.

For more introduction about Naughty Price>>https://degis.medium.com/naughty-price-intro-db957c77e772

The article will introduce how to use the naughty price function to better protect your crypto asserts in detail.

Add Avalanche C-Chain

There are two common ways:
- Chainlist:Visit https://chainlist.org and connect your Metamask wallet

Search ‘Avalanche C-Chain’, click ‘Add to Metamask’

Switch network to ‘Avalanche Mainnet C-Chain’

  • Custom RPC in Metamask
    Open Metamask and click to select network

Select ‘Custom RPC’

Fill in the following information:
Network Name: Avalanche C-Chain
New RPC URL: https://api.avax.network/ext/bc/C/rpc
Chain ID: 43114
Currency Symbol: AVAX
Block Explorer URL: https://snowtrace.io/

2. Visit https://degis.io

2.1 Enter DApp
Click “Explore” to enter Degis DApp

2.2 Dashboard

Then you will enter the dashboard which will display the basic information for the naughty price and also the mining pool. By clicking “Show”, the dashboard will display your current insurance/deposit amount.

3. Naughty Price

The Naughty Price is an innovative price volatility cover to protect your crypto assets.

During the trading period, there are 15 days for users to create/redeem protection token, buy/sell protection token in swap pool and provide/withdraw in liquidity pool. The last 5 days before the expiry date are called locking period, in which only liquidity providers can provide/withdraw their position in liquidity pools.

3.1 Select Token
Select the token you want to protect. (In the initial launch, AVAX will be the first token we cover, more tokens will come soon)

3.2 Select Protection
Select the protection within the validity period by clicking “more”

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

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

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

Also, you can directly buy the cover here.

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

3.4 Settle

When the expiry day comes, if the event doesn’t happen(i.e. The price of AVAX is higher than trigger price), creators can go to settle to redeem the protection tokens that you create

If the event happened(i.e. The price of AVAX is lower than trigger price): protection token holders can go to settle to claim compensation.

4. Mining

4.1 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

4.2 Harvest
Claim your $DEG rewards by clicking harvest.

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

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

--

--

--

The 1st DeFi insurance protocol on Avalanche https://degis.io/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Oh no! My WordPress site got hacked!

{UPDATE} Battle Of Ninja Hack Free Resources Generator

Information Doesn’t Have To Be Classified or Secret To Be Valuable

Cybersecurity lessons for 2020 and beyond

{UPDATE} 戲谷麻將HD Hack Free Resources Generator

https://t.me/TitanGiveawayBot?start=r0675122317

ORR uses private email server, shares IP address with Christian nonprofit

Part 2: Would a Detection by Any Other Name Detect as Well?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Project Degis

Project Degis

The 1st DeFi insurance protocol on Avalanche https://degis.io/

More from Medium

Naughty Price Intro

SuperPool Opening Ceremony: 3X Staking Reward!

Colony x Deliq Partnership termination

IDO Details