Shibuya-ku, Tokyo, Japan, Japan, Jan 03, 2022, 12:18 /Comserve / -- Udego Finance blockchain, decentralization insinuates the exchange of oversight and decision-making from centralized affiliation (individual, partnership, or gathering of individuals) to a scattered Organization
UDEGO FINANCE is aiming to bring innovations into the crypto market simultaneously with this release of tokens as well as the upcoming token marketplace. An ecosystem of financial applications that are built on top of blockchain networks. An open-source, permissionless, and transparent financial service ecosystem that is available to everyone and operates without any central authority. The users would maintain full control over their assets and interact with this ecosystem through peer-to-peer (P2P). Its P2P platform allows buyers and sellers to execute trades without the need for intermediaries. In some cases, websites may also provide a P2P environment that connects lenders and borrowers. While each node can download files from other nodes or upload files to them. This is what differentiates P2P networks from the more traditional client-server systems, in which client devices download files from a centralized server. Udego Finance uses decentralized applications (dapps). Udego Finance does not rely on institutions such as banks to act as intermediaries, and courts to provide arbitration. Udego Finance blockchain, decentralization insinuates the exchange of oversight and decision-making from centralized affiliation (individual, partnership, or gathering of individuals) to a scattered Organization.
UDEGO FINANCE is set to be released on NOV24, 2021.
Why Choose UDEGO FINANCE?
Udego Finance brings numerous benefits when compared to traditional financial services. Through the use of smart contracts and distributed systems, deploying a financial application or product becomes much less complex and secure.
Decentralized Application (DApp)
Udego Finance runs on a P2P network of computers rather than a central computer.
Digital agreements that intermediate the exchange of cryptocurrencies (or any other digital asset) between two parties.
Distributed ledger containing information about all the activities that have taken place on a blockchain network is shared by everyone.
Safe & Secure
Audited by respected industry professionals like CertiK whose job it is to understand security vulnerabilities of the platform
Udego Finance uses the AMM model to create liquidity pools of tokens that users can access to swap. Users don't trade as makers or takers but instead interact with a smart contract. Anyone can start providing liquidity by depositing a pair of coins in equal value.
In return, the liquidity providers receive LP (liquidity pool) tokens that act as a receipt for their share of the pool. These LP tokens are burnt when reclaiming your tokens. You can also provide them to use in yield farming, where your fees are constantly reinvested in the pool to compound your interest.
Udego Finance's AMM model rewards liquidity providers with a 0.17% fee shared proportionally based on the liquidity provided. The tokens' prices aren't determined via an order book but through a formula known as the Constant Product Market Maker.
Let's use the ETH/DAI liquidity pool as an example. We'll refer to ETH as x and DAI as y. With a Constant Product Market Maker formula, x and y are multiplied together to create a constant, k, that can't change.
x * y = k
The liquidity pool will offer you a conversion rate, in our case, 3,000 DAI (y) for 1 ETH (x). When you supply the 3,000 DAI to the pool and remove 1 ETH, it will have a higher supply of DAI and a smaller supply of ETH. This action causes the price of ETH to rise as k is constant. In other words, you are using your DAI to buy ETH. As more ETH leaves the pool, its price in comparison to DAI rises.
Token Swaps on Udego Finance are a simple way to trade one BEP-20 token for another via automated liquidity pools.
The liquidity provided to the exchange comes from Liquidity Providers ('LPs') who stake their tokens in 'Pools'. In exchange, they get FLIP (Udego Liquidity Provider) tokens, which can also be staked to earn UDEGO tokens in the 'farm'. When you make a token swap (trade) on the exchange you will pay a 0.2% trading fee, which is broken down as follows:
- 0.17% - Returned to liquidity pools in the form of a fee reward for liquidity providers.
- 0.03% - Sent to the Udego Finance Development Treasury.
Yield farming incentive rewards from the AMM, if applicable - i.e. CAKE tokens from PCS. Underlying trading fees of the pool - i.e. trading fees from the PancakeSwap pools. Incentive rewards paid in tokens of platform partners (in featured pools). Initial Liquidity Pools (LPs) for farming UDEGO tokens:
“UDEGO” TOKEN Staking involves the locking up of assets to participate in the validation of transactions on proof-of-stake blockchains, with a financial“reward” provided in terms Of different Tokens. This offers a digital asset alternative for yield generation in today's low or negative interest rate environment. Stake UDEGO to earn new tokens. You can unstake at any time. Rewards are calculated per block. Staking Pools:
- UDEGO POOL
- BNB POOL
- BUSD POOL
LIQUIDITY POOLS AND ADDING LIQUIDITY
Udego Finance liquidity pools allow you to provide liquidity by adding your tokens to liquidity pools or“LPs”. When you add your token to a liquidity pool (LP), you will receive Flip tokens (Udego Finance's version of liquidity provider tokens). As an example, if you deposited $UDEGO and $BNB into a liquidity pool, you would receive UDEGO-BNB FLIP tokens. The number of FLIP tokens you receive represents your portion of the UDEGO-BNB liquidity pool. You can also redeem your funds at any time by removing your liquidity. Providing liquidity is not without risk, as you may be exposed to impermanent loss. It's not all bad for liquidity providers as you will also be given a reward in the form of trading fees. Whenever someone trades UDEGO, the trader pays a 0.2% fee, of which 0.17% is added to the liquidity pool of the swap pair they traded on. For example:
- There are 10 FLIP tokens are representing 10 UDEGO and 10 BNB tokens.
- 1 Flip token = $1 UDEGO + $1 BNB
- Someone trades 10 UDEGO for 10 BNB.
- Someone else trades 10 BNB for 10 UDEGO.
- The UDEGO/BNB liquidity pool now has 10.017 UDEGO and 10.017 BNB.
- Each FLIP token is now worth 1.00017 UDEGO + 1.00017 BNB.
To make being a liquidity provider even more worth your while, you can also put your FLIP tokens to work whipping up some fresh yield on the Udego Finance farms, while still earning your 0.17% trading fee reward.
Udego Finance - Reinventing Decentralised Finance on Binance Smart Chain
- Chain Network: BSC
- Token Name: Udego Finance
- Token Ticker: UDE
- Initial Supply: 110,000,000 UDE
- New Token emissions: 1 UDE per block
- Fair Launch: Yes
Effective Emission is 0.95 UDE as 1440 UDE per day is diverted to the lottery wallet, and burned (It will be burned every week until we start our lottery feature).
Other Deflationary Mechanics
At present, UDE is also burned in the following ways:
- 0.05% of every trade made on Udego Swap.
- 100% of farming and staking pool rewards if unstake, harvest, or compound is done before 168 hours (7 days) after staking.
- 1440 UDE per day is diverted to the lottery wallet and burned (It will be burned every week until we start our lottery feature).
The burning process is currently manual.
Address: Zurich Switzerland
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