Date: June 4, 2025
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1. What is DEGO Finance?
DEGO Finance is a hybrid DeFi + NFT project designed to let users mint, stake, auction, and trade NFTs across multiple blockchains like Ethereum, BNB Chain, and Polkadot.
Core features:
NFT Foundry – Mint NFTs with DEGO or other tokens.
NFT Mining – Stake NFTs to earn rewards.
Treasureland – Native NFT marketplace.
ScanDrop – Claim airdrop NFTs via QR code.
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2. Past Security Incident (Feb 2022)
DEGO was hacked, and over $10 million in liquidity was drained from Uniswap and PancakeSwap pools.
The attacker minted fake DEGO tokens and dumped them.
Major exchanges like Binance assisted with a token contract migration.
The project survived, but community trust took a serious hit.
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3. What Happened Today (June 4, 2025)?
DEGO announced it's purchasing USD1, a token by World Liberty Financial (WLFI), to use as a liquidity reserve on BNB Chain.
They called this a strategic move to support a “stronger DeFi ecosystem.”
However, just 15 minutes after the tweet (9:00 UTC), the price crashed from $2.646 to $1.375, triggering concerns about a pump-and-dump or exit liquidity scenario.
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4. DEGO Token Overview
Total Supply: 21 million
Standards: ERC-20 & BEP-20 (updated after the 2022 hack)
Utilities: Governance, staking, NFT minting, ecosystem rewards
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5. Should You Catch the Dip?
DEGO has a history of security risks and questionable recovery.
The price reaction today contradicts the positive news, which is a red flag.
If you're entering now, understand it’s highly speculative — only use funds you’re willing to lose.
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TL;DR
DEGO is an experimental DeFi/NFT project with real tech but a damaged reputation. The latest move with USD1 caused more fear than confidence. Unless you’re a high-risk trader, it’s best to observe rather than rush in.
