As the staggering GAS fee problem of the Ethereum Network remained unsolved for many projects including DEGO Finance, the core team has proposed the “Proposal of Liquidity Migration onto Pancake Swap to reduce users’ GAS fee spend” on the 10th of March. 78.46% of participants voted for migrating 50% of the liquidity to Pancake Swap, and we shall heed your wish.
We will start the liquidity migration at 12:00 PM (UTC) on the 25th of March by removing the corresponding portion of core’s team liquidity from DEGO/ETH pair on Uniswap then inject equal worth of liquidity onto Pancake Swap, DEGO/BNB pair will be enhanced, honoring our commitment to user experience and BSC network. Liquidity provided by users will not be affected whatsoever.
We are using 0x00….0000 as the address for receiving burned DEGO tokens, please refer to our GitHub page for burning records.
Liquidity Migration Process
1. We will withdraw approx. 50% of the DEGO/ETH LP tokens from address of 0x20….D735 and these portion of liquidity is currently valued at $5,924,123 USD. [Check Out]
2. After removing approx. 50% of the DEGO/ETH LP tokens, the corresponding number of DEGO tokens unlocked will be transferred to the address below for burning: 0x00….0000
3. ETH tokens unlocked from above will be transferred to a centralized Exchange and exchanged for BNB tokens.
4. The corresponding amount of DEGO tokens(BEP20) will be minted on BSC.
5. Equal worth of DEGO/BNB Liquidity will be added to the existing pair on Pancake Swap.
6. The max supply of DEGO tokens will remain the same as 21 million, relevant on-chain records will be made public.
Dividend Pool Asset Migration Process
DEGO tokens on Dividend Pool address of 0xEA….7722 at Ethereum will be migrated the to BSC too.
1. Transfer the ERC20 DEGO tokens from 0xEA….7722 to the address below for burning: 0x00….0000.
2. The Corresponding amount of BEP20 DEGO tokens will be issued on BSC
These asset migration plans above will be completed before the 8th of April and all on-chain records will be made public.
Binance has already supported the exchange between ERC20 and BEP20 DEGO tokens. Users can enjoy lower fees on the BSC network. We will soon initiate campaigns with Pancake Swap and launch Dividend Pool event, please stay tuned.
About DEGO
DEGO created the cross-chain NFT + DeFi Protocol and infrastructure, exploring the implementation of the financial functionality of NFT, including NFT creation, trading, auction and DeFi applications.
DEGO provides Superstructure Empowering Blockchain Project, supports user acquisition, and releases scenarios like NFT customization and NFT mining. DEGO is using Substrate to build parallel blockchains to enable NFT assets to cross chains and consolidate applications and underlying protocols.
