Update on Price Protection — $BTC will be protected!

As Avalanche has integrated the BTC bridge, $BTC is becoming one of the most important tokens in Avalanche ecosystem. As the native protection protocol on Avalanche, we’re excited to announce that Degis Price Protection will protect Bitcoin in the coming Price Protection! The product design is based on governance voting from Degis community, and the mechanism adopted is the same as the previous Price Protection model.

Degis Price Protection model

Price Protection is the next-generation token price protection designed by Degis in this rapidly changing crypto world. We use a token model in Price Protection, each token represents a protection and can be freely traded in the market. If the insured token price falls below the trigger price when the pool expires, the protection token owner will be compensated. Otherwise, the protection token creator can get the staked collateral back.

Users can choose to become creator, buyer/seller and provider in the protection period based on their understanding and prediction of the token price, and adopt various strategies to maximize their profit. Creators can stake stablecoin to mint protection token, and they can choose to hold or freely trade them in the AMM pool. For providers, they can deposit token pairs into the swap pool and use the LP token earned to mine and harvest juicy rewards.

Check https://degis.medium.com/all-about-naughty-price-protection-9959d3a95189 for more detailed mechanisms, functions and the time cycle.

Mining rate update

For four current covered tokens ($AVAX + $XAVA + $JOE + $BTC):

  • IM mining rate: 1500 (base rate) + 300 (veDEG boost)
  • Normal Mining rate: 1250 (base rate) + 250 (veDEG boost)

Degis will gradually protect more tokens in the crypto world in the future, get your assets protected and stay tuned for coming protections!

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