Protocol Protection testnet announcement

What is Protocol Protection

Degis Protocol Protection is the next-generation product that protects users from all kinds of risks, including smart contract hacks, rug pull events, and even bridge security events. Degis is the first protocol to offer a dynamic premium and native token payment method, providing the best price for protection buyers. Protocol Protection adopts the “Protection Pool + Priority Pool” design to maximize capital utilization rate, which is also a first in the on-chain protection market. With protocol protection, users can easily protect themselves from crypto security events with our customized protection!

For detailed introduction:

Protocol Protection announcement: click here

Protocol Protection reinsurance mechanism: click here

Protocol Protection compensation mechanism: click here

Why do we need Protocol Protection: click here

The innovation of Protocol Protection: click here

Why are we Hosting a Testnet Event?

Testnet is open to every user, providing an opportunity for Degisons to go through all procedures in the coming product and get familiar with the product design. It also serves as a means for the Degis team to receive feedback from the community and further optimize the product.

Time and Task Settings

The public testnet will start on September 19th at 8AM UTC and will last for one week. During the testnet, participants will go through every step of Protocol Protection, and act as underwriters or buyers to experience the whole workflow. Testnet will also simulate all situations possible so that participants can have a clear understanding of what will happen and how to react in different circumstances when the product officially goes live.

The detailed task will be released soon!

Mission and Reward

Every time participants complete all tasks for a single mock project, they will receive entry tickets for the prize pool. The final prize will be distributed according to the proportion of tickets in the pool. Up to 1,000,000 $DEG is waiting for you!

Apart from the completion rewards, we would also love to reward participants who provided technical and user experience feedback. Those rewards will be decided case by case, and winners may receive up to 10000 USDT rewards!

Protocol Protection is a game-changer in the current De-Fi protection market. We encourage everyone to participate in the testnet and try it to see how it can protect your assets. More details will be released soon, stay tuned!



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Project Degis

Project Degis

The 1st DeFi insurance protocol on Avalanche