DEG Token and Tokenomics
The native cryptographically-secured fungible protocol token of the Degis platform (ticker symbol DEG) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the Degis platform, and which is designed to be used solely as an interoperable utility token thereon.
DEG provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on the Degis platform, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. DEG is an integral and indispensable part of the Degis platform, because without DEG, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the Degis platform. Given that additional DEG will be awarded to a user based only on its actual usage, activity and efforts made on the Degis platform and/or proportionate to the frequency and volume of transactions, users of the Degis platform and/or holders of DEG which did not actively participate will not receive any DEG incentives.
DEG is a functional multi-utility token which will be used as the medium of exchange between participants on the Degis platform in a decentralised manner. The goal of introducing DEG is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Degis platform without any intermediaries such as centralised third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. DEG does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will DEG entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. DEG may only be utilised on the Degis platform, and ownership of DEG carries no rights, express or implied, other than the right to use DEG as a means to enable usage of and interaction within the Degis platform. The secondary market pricing of DEG is not dependent on the effort of the Degis team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.