DEGA Token and Vault
Last updated
Last updated
DEGA is a utility token, the fiches that allows you to make bets on platforms that use DeGa technology.
DEGA is an acronym that stands for Decentralized Gambling Chips. In fact, using a token rather than a coin to carry out bets allow players to utilize a better unit of account and not have to deal with awkward decimal units.
DEGA is not a common token but flaunts some elements of uniqueness with regards to traditional tokens. The token is, in fact, backed to bitcoin, meaning that its price is anchored to the price of bitcoin.
The DEGA token is managed by a smart contract that acts as a Vault by issuing the token only against a BTC deposit, guaranteeing its fixed exchange. Utilizing the Binance Smart Chain network, the bitcoins deposited as collateral will be under BTCB form, the BEP20 token that has a fixed, synchronized and BTC verifiable exchange.
In this manner the DEGA token, and consequently the deposits and winnings of players, benefit from Bitcoin’s monetary deflationary politics. This allows players to bet on the platform and contemporarily bet on the growth of the cryptocurrency par excellence.
The Vault is the automatic mechanism based on a smart contract and therefore irrevocable and completely decentralized.
The automation and incorruptibility of Vault guarantees the transparency and certainty of the value of the DEGAs, always allowing the BTCB - DEGA exchange. None of the operators of the DeGa ecosystems can escape compliance with the rules of the Vault, and in order to have the DEGA in the portfolio, the same DeGa company will have to own and send BTCB to the Vault.
The Vault represents the system of maximum transparency that DeGa offers to the ecosystem and that allows DEGA to be a universal fiches accepted by anyone.
The Vault’s smart contract allows users of de.ga to receive 991000 DEGA for a deposit of 1 BTC and viceversa to receive 0.991 BTCB for sending 1.000.000 DEGA.
The spread of only 0.9% is the fee that is paid by users of the de.ga ecosystem to maintain the management infrastructure of payments. Obviously it is possible to deposit and withdraw fractions of BTCB.
Thanks to this mechanism, de.ga can guarantee the certainty of withdrawal. Being decentralized, the smart contract guarantees the security and coverage of made deposits.
