Degen Protocol offers integration for liquidity providers (LPs), traders looking to earn profits from pairs, and customization developers.
Although it is still in its beta phase, popular exchanges already list the coin, chronicling its trends alongside other tokens.
What’s the deal here? You can access a reliable community for totally decentralized trading as a trader. The word is AMM.
Do you know what it means? Here is a crunch.
An AMM (Automated Market Maker) ensures that the whole business of order, sale, and liquidity does not happen outside the DeFi spectrum. It also guarantees security, given that its underlying math framework tethers the sold and available tokens in the pool to one value.
For example, you get values like P and Q always tethering on R.
So that P x Q = R.
AMMs self-regulate the process involving cryptocurrencies on any supported DeFi network, with LPs (Liquidity Providers) raising the liquidity for the in-platform smart contract.
In this way, traders can bid against the entrenched contract running on the supported AMMs (Uniswap and PanCakeSwap, for e.g.).
Are you a newbie (not so taken with the stats and analytics aspect)? If yes, know that Degen Protocol is available on Coinmarketcap, Sushiswap, Uniswap, etc. Impliedly, you can join the range of staking and swap activities on the site.
A statement on the official site preempts traders attempting to use DGN as an asset. The token is still beta software, meaning that it cannot provide fungibility at this stage. Ensure you grasp what’s at odds before throwing in with the coin.
You can learn more about DGN prices in this article. Read on below for details.
Degen Protocol Price: What the Stats Say
The overall daily record averages zero (0) as of current DGN Price Stats, with the coin tallying $0.6885 paired off to the USD.
Also, the stated figure is the all-time high and low for DGN, at least on CoinMarketCap.
The designated primary traffic for the cryptocurrency is PanCakeSwap, which records marginal shifts from the DGN CoinMarketCap stats. Perhaps, beta phase heuristics is impacting the 24hourly traded volumes, with zero (0) records to show.
Regardless, Degen Protocol remains one of the best for multipurpose crypto coin leverage.
Despite its in-platform thrust currently, DGN has recorded an impressive $84.84 All-Time High on the lists, losing only $0.5588 in the same timeline. The cumulative losses over last year dump the coin nearly below the $0.5 mark, though, removing up to 99% of the valuation from DGN in one year.
Currently, the maximum supply peaks at one million DGN, offering enough liquidity for mostly in-platform transactions.
If you are part of the trading/staking community on the providers’ site, you can engage in any of these activities.
LP Staking _ Pays returns from transaction fees realized from the staking pool.
NFT Farming _ steadies the DeFi monetary flow within the platform
Moreover, it also caters to Web3 utility and deflationary spaces. Thus, you can expect Degen Protocol to proffer explorative avenues in the future, although the current iteration records zero market caps.
So, what can I do with the DGN Coin?
For now, you can only do so much with Degen Protocol, especially as it provides very constricted windows for people looking to trade it on DEXs.
You can expect more use cases in the coming months.
However, PanCakeSwap offers a broad range of options for transacting with the coin on different strata, out of which NFTs, LP staking, and swaps remain dominant features.
Whatever plays out in the long run, this caveat from the official website should always guide the DGN trader.
NOTICE: This project is beta software and experimental in nature. Do not invest what you cannot afford to lose. You are the only party responsible for your transactions.
So, if you are hoping to earn a huge pile from the margin trade options, peruse the appended figures for a background check.
NFT Payout Fund _ 0.00
SH33P on the Barbie _ 0.00
Sh33P Staked _ 0.00
Party Fund _ 0.00
Degen Protocol Liquidity Providers will have to wait for props since Free Splitter records 0.00 on the site. As it happens, only a threefold avenue is open to members. They are:
How Can I Buy Degen Protocol?
Please, note that you cannot buy the token with fiat.
Is there a non-fiat way to purchase it then? Yes
You can follow a relatively valued crypto exchange to swap ETH and BTC for DGN. If you want the range of purchase options available, go to PanCakeSwap and check the buyers’ guide.
Generally, Degen Protocol is primarily a deflationary token, with less than par trade analytics on all exchanges.