Weekly Summary (September 19th)
Hi Degison! Hope you’re having a great week.
Come and check our weekly progress summary to stay tuned! After reading the summary, you can take a questionnaire and we will select 20 Degisons to win 30$DEG reward each!
Highlight of this week
-Protocol Protection public testnet is live!
Degis Protocol Protection is the next-generation product that protects users from all kinds of risks, including smart contract hacks, rug pool events, and even bridge security events.
The public testnet started on September 19th at 8AM UTC and will last for one week. 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.
If you want to know more details about Protocol Protection testnet, please check https://degis.medium.com/protocol-protection-testnet-announcement-5c61899337f9 and https://degis.medium.com/protocol-protection-testnet-goes-live-10665bd97285
· AMA: a Twitter Space AMA to help everyone understand how we build a safe future for Web 3.0
What we’re doing now
· New product: the development team is working on Protocol Protection’s final test to make sure it will work smoothly, and adjusting the product based on community’s feedback
· Degis website: the development team is optimizing the official website in a more user-friendly way
· Materials: more tutorials and market reports will be published
· Events: more AMAs in multi-language for everyone to have a deeper insight into Degis and our products
· Collaborations: more partnerships to cover every risk in the crypto world and make Web3 a safer place for everyone, Web3 Security Hub and Protection is on its way!
What to expect next week
More products are on the way, stay tuned!
More research reports will be published!
What is IDO Price Protection?
The IDO Price Protection is designed to protect newly IDO tokens launched by Avalaunch from the high volatility of the crypto market. Even if the token price falls below the IDO price, you will be compensated for buying IDO Price Protection.
IDO Price Protection is developed on the model of Degis Price Protection, check here for the detailed mechanism and time arrangements for Price Protection >> https://degis.medium.com/all-about-naughty-price-protection-9959d3a95189
The time period of IDO Price Protection is Initial Matching(3 days)+Trading Period(14 days)+Locking Period(1 days).
For the settlement, the trigger price will be set equal to the IDO price, which means that the protection token holders will be compensated if the final token price is lower than the IDO price on the expiry date.
A frequent sampling method will be used to determine the final price on the expiry date. Starting from two days before the expiry date, The sampling process will be conducted every four hours to collect the token price, the final price will be determined according to 12 sampling times in total.
Take the quiz, provide feedback and win rewards now!
Answers of last week:
Both of them can be used to solve flash loan attack
DEG is a ERC-20 token
The proportion of underwriters’ rewards of Protocol Protection is 5%
Winner list of last week:
Congratulations! The winner rewards will be distributed in 24 hours.
Degis Official Links
Telegram Announcements Channel: https://t.me/ProjectDegisAnnouncements
Telegram Chat Group: https://t.me/ProjectDegis