The concept behind the launch is part of a new wave of innovation in DeFi sectors.
The INO
The first INO from DEGO Finance is fast approaching, with Treasureland.market the project which is earmarked for launch. The marketplace is being described as ‘an adventurous yet successful social experiment’ and will be supported by its own native token $TRSR. DEGO Finance supports both Ethereum and Binance Smart Chain NFTs, making this INO event a doubly interesting proposition for investors.
Non-Fungible Contracts (NFC)
Non-Fungible contracts offer decentralized contract issuance. Tokens can be locked within NFCs before the NFCs are sold on. The tokens locked within the NFC can be released by the contract owner after purchase, but only according to the rules of that specific contract. The specific rules of each NFC may vary.
Non-Fungible Contracts can also be bought and sold between independent third parties allowing the NFCs to trade hands. The Initial NFC Offering (INO) is the initial primary sale of that non-fungible contract.
DEGO Finance
DEGO Finance is a DeFi platform which aims to drive the NFT industry forward, combining more power, flexibility, greater utility and ease of use for NFTs. The platform is designed to allow anyone, with minimal technical understanding, to easily create and issue NFTs.
DEGO Finance is supported by its own governance and equity token, $DEGO. The token is used for voting in community governance proposals and directing the future direction of the protocol. Token holders also receive dividends from transaction fees on the network.
DEGO is similar to LEGO, but for NFT-based applications, with each application becoming an NFT LEGO/DEGO that can be assemble increasingly complex and interesting products.
Concluding Thoughts
The INO concept is not exactly straightforward, adding additional layers of complexity and utility to the NFT sector. This presents challenges as well as opportunities, as the sector is very bare-bones at the moment. From a technology and innovation standpoint DEGO certainly appear to be doing something worthwhile. The challenge they face, however, is communicating exactly what that something is.
In their ‘Proclamation of Non-fungible Contract’ DEGO Finance describe the NFC concept thusly:
“Non-Fungible Contract is a Decentralized Contract Issuance Protocol that executes complex structure of spot and future investments contracts. Through the issuance and offering of Non-Fungible Contracts, blockchain entrepreneurs will have flexible access to funding while investors and all stakeholders enjoy better liquidity in an optimised mezzanine market for Blockchain. Every participant’s rights and interests are guaranteed, protected and governed by Law of Codes.”
With the TRSR launch coming soon, it will be interesting to see if the INO product, combined with DEGO’s unique communication style, successfully piques the interest of investors. The team has taken great pains to convey the benefits of the NFC concept, and could be the sparking point for future NFC protocols to begin building.
Source : bsc.news
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