We've just deployed our utility to the Ethereum chain! The first tranche of insurance deposits is also now live, so make sure to get in before it's depleted!
GM fam! It's time for that big Monday announcement you've been waiting for!
Behind the scenes, our devs have been going hard at it, developing our fully insured app suite to usher in a new era to DegenInsure: Revenue sharing! Details in the 🧵 below
We experienced a token approval exploit from our new router and have paused our router to contain the issue.
Any funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.
We will release a detailed response after investigations conclude.
Our token data just got updated on
@zerion
and
@Uniswap
! You can now see our token logo on both platforms! This not only increases our legitimacy, but is also a much better look!
GM Degen fam! Today, we're releasing a new initiative: DegenTales! Here's a 🧵 on how it would work, and how you could win yourself something from a $1000 pot!
DegenDEX, the world’s first FULLY insured DEX platform, as well as our policies have generated about $3154.20 for the protocol so far. Although this figure is low, we will be putting it ALL back into the insurance fund to further bolster it.
We've been away building, so we couldn't celebrate our wins immediately, but we have been winning!
This is only day one, and our numbers are through the roof already! Thank you all for your immense support!
This is only the beginning!
Reminder: $DGNS will soon start supporting revenue sharing! Here’s a 🧵breakdown of when that’s coming, how it would work and everything you’d need to know about it.
Hey there fam! We’ve worked over the weekend to provide you with a new concept: DegenInsure Watchdog!
Read on to understand what we’ve built and how it can help your project! A 🧵
This morning, I bought a scam project. Dev hard rugged me and friends.
I lost around 0.5E, and my friend experienced a similar loss. I really wish I had used $DGNS insurance, It would have helped me recover some of the losses.
Next time,
@DegenInsure
, I will use your services.
@BananaGunBot
users! We've made a plan specially for you to secure ALL trades made through BananaGunBot and get up to 95% refund in the case of a hack. It happened to Unibot, an industry leader, so better safe than sorry!
Get started 👉
Hey there fam! As we inch closer to our eventual plan of offering a fully insured suite of DeFi apps, we have yet another release for you guys! Find out more in this 🧵, as well as a special deal for
@TeamUnibot
users!
The $DGNS community has been ripping of late. No better time to announce our upcoming updates to our fully insured app suite! Correct guess for the number of days below wins $200 worth of $DGNS. Ends in 24 hours!
We're pleased to announce a new addition to the world's first-ever fully insured DEX platform - failed swap guardian! Failed swap guardian will eliminate that annoying thing that happens on Uniswap where your swap fails and you still pay gas! Open the 🧵 for more 👉
If you read this thread, you’d probably have seen that we use 50% of revenues to reward users. But you’re probably wondering: “Where does the other 50% go? To the team?”
Nope! To buy back and burn $DGNS and make it more deflationary! We’ll release more details soon!
GM fam! It's time for that big Monday announcement you've been waiting for!
Behind the scenes, our devs have been going hard at it, developing our fully insured app suite to usher in a new era to DegenInsure: Revenue sharing! Details in the 🧵 below
Hi there fam! We're pleased to release comprehensive cover for projects assured by
@AssureDefi
! Check out our website at to pick up a plan for yourself and read more on how this particular cover works!
DegenDEX was released a few days ago, and it's a rather big deal for the crypto industry (we might be biased😁). In this 🧵, we will explain why it's such a big deal, and how you can benefit from it as a project, or as a trader.
GM fam! It's time for that big Monday announcement you've been waiting for!
Behind the scenes, our devs have been going hard at it, developing our fully insured app suite to usher in a new era to DegenInsure: Revenue sharing! Details in the 🧵 below
Revenue sharing is coming soon! For the first round of rewards, only holders that held before the pre-revenue sharing snapshot will be eligible to claim.
We will bootstrap the first month with 1% of taxes collected from trading $DGNS. NO SNAPSHOT HAS BEEN TAKEN YET.
$DGNS holders! You can now create and vote on proposals right in the DegenInsure app! This is the first step we are taking in building our fully insured suite of apps. Holders of 20k $DGNS or greater can now create and vote on proposals that shape the future of DegenInsure!
Hi Degens! We have a couple of releases for you in the latest version of DegenInsure! Let's discover what we've done to ensure you are even more protected in the 🧵
Today just started and there’s already been over $50k in rugs. We get that degening is fun, but protection is always required. Get cover NOW and get a safer crypto experience for yourself! Get started 👉
#SAFEREUM
SCAMMED ⚠️
Actually I used to regret ignoring their offer at first, but after all it was a correct opinion and did not put my followers in danger.
Although the chart has grown very steadily, this is still a sophisticated scam. They can still locksell after renounced
You asked, and we listened! You can now track live insurance details as we progress on the website! As we start out and as the market is slow, these numbers might increase slowly, but as more people find out about DegenInsure, they'll surely pick up!
GM Degen fam! Today, we're releasing a new initiative: DegenTales! Here's a 🧵 on how it would work, and how you could win yourself something from a $1000 pot!
We've just deployed our utility to the Ethereum chain! The first tranche of insurance deposits is also now live, so make sure to get in before it's depleted!
🚨🚨🚨 RED ALERT 🚨🚨🚨:
Do not interact with ANY dApps until further notice. It appears that a commonly used web3 connector has been compromised which allows for injection of malicious code affecting numerous dApps.
If you're using
#unibot
or any other sniping tool to trade, be sure to get some cover to protect your precious investments! It's a dangerous world out there!
Hey there fam! As we inch closer to our eventual plan of offering a fully insured suite of DeFi apps, we have yet another release for you guys! Find out more in this 🧵, as well as a special deal for
@TeamUnibot
users!
We've just locked liquidity for 3 months! As we continue to grow in size, we will continue to extend our liquidity lock duration. Here's the proof of the lock:
Remember, 1% of all trading volume coming through DegenInsure goes to the treasury to pay out victims of bad actors. Now we’ll also be funneling DEX and premium payments back into the pool to ensure we can serve a wider audience.
DegenInsure is coming to
#Solana
! Solana has been popping off recently and we’ve decided to support Solana insurance! We can’t say much for now, but $DGNS holders will be very much rewarded once we are done. Anticipate!
Now that we've given the power back to the community, we will start building out the full suite of apps. Expect a lot from us in the coming days! We're only just getting started!
$DGNS holders! You can now create and vote on proposals right in the DegenInsure app! This is the first step we are taking in building our fully insured suite of apps. Holders of 20k $DGNS or greater can now create and vote on proposals that shape the future of DegenInsure!
Equally, this feature can help in preventing rugpulls, as transactions are simulated first before they are executed. Hence, if a token you're about to buy rugs during the simulation, you are protected!
Soon, we will release two major dev products that are integral for our project’s success
- a dev update blog: so that regular users can keep up with what is being built and how far we’ve gone in building it
- governance platform: for top holders to create and vote on proposals
For the first 5 users or the next 24 hours, ALL bot plans hold a 0% premium! All you need to do is hold the required amount of $DGNS for the plan of your choice! Get started 👉
We're proud to release Protocol Cover, our first step to complete cover of the DeFi ecosystem. Rather than having general cover with strict rules, users can now opt for more specific protocol cover with lighter rules. You can demo it here:
And as for
@TeamUnibot
users, you can now ensure that your trades are protected as you jump the line in the mempool and snipe new coins! Cover premiums start from 2% (variable +- 0.15% depending on market conditions, calculated by the contract).
We have some huge news coming for ALL $DGNS holders in 24 hours that will blow your socks off. $50 will go to 5 people that are able to guess what it is in the comments below. Retweet and like to be eligible!
Be sure to use the hashtags
#DegenInsure
#SavedbyDegenInsure
#DGNS
to ensure that your entry is valid. Your entries must also be in form of a thread (like this one!)
The competition will last for a week from today, and will end 2nd November. Good luck!
So here's how you can help and potentially win from a $1000 pot (this pot may increase in the coming days as well).
1. Make a post detailing a recent rug/scam you or a friend were part of
2. Tell us how the rug worked
3. Relate DegenInsure's plans to the rug
@TeamUnibot
We’ve had Unibot insurance cover for a while! All users that had bought cover for Unibot on our platform can claim a FULL refund now. Check it out at
DegenInsure fam! We're pleased to announce that revenue sharing is now LIVE!
2% of ALL collected taxes will be distributed to $DGNS holders once a week on Saturdays by 11:59pm UTC. The distribution will be automatic! Thank you for sticking with us!
DegenInsure fam! We're pleased to announce that revenue sharing is now LIVE!
2% of ALL collected taxes will be distributed to $DGNS holders once a week on Saturdays by 11:59pm UTC. The distribution will be automatic! Thank you for sticking with us!
As we progress, more platforms will be added, either by the DegenInsure core team or governance votes. Slowly, as our insurance pot increases as well, we will eventually cover the entirety of DeFi! Check out the docs here:
As we've always said, the eventual aim of DegenInsure is to create a fully insured suite of high-quality, mainstream apps that serve the community. The first instalment into this suite, DegenDEX, is now live at . You can also access it as in the video:
DegenInsure Watchdog is a concept designed to protect investors at a project level. This means that ALL investors that get burnt on a Watchdog insured project will get refunds ranging from 50% - 90% of lost funds depending on the range of the projects Watchdog cover.
To celebrate the holidays, ALL DegenInsure plans that are purchased between now and 1st January 2024 will be auto-renewed when we open up plans on Solana. Protect your assets on Ethereum now, and get a FREE plan on Solana as well! Get started 👉
As we stated earlier, the first step will be giving our community power. Now, we will begin to build the ecosystem itself, as well as the apps within it.
If you hold 20k $DGNS or greater, you can go to and create a proposal now!
But where does the money for watchdog cover come from?
Projects that wish to get Watchdog cover will have to pay a small premium to DegenInsure, and all users that wish to claim in the future will have to hold an amount of $DGNS proportional to 20% of their cover amount.
To that end, we have begun developing the DegenInsure suite of apps. This will include apps like
- DegenSwap (insured swaps)
- DegenBridge (insured bridge)
- DegenLend (insured lending)
- DegenYield (insured farming)
and so much more!
What makes DegenDEX special? (aside from the fact that all trades taken through it are 100% insured)
- 50% of all generated revenue is shared with ALL users
- Industry-leading routing
- front-run protection
- tax refund for no' 1 $DGNS trader
- gas refund for top 20 traders
Watchdog cover is now live and projects can begin to get it by sending an email to watchdog
@degeninsure
.com. Once contacted and terms are agreed on, we will create a watchdog page for users to get covered on. We hope this initiative will help secure the space even more!
This leads to trades that never fail due to the system always having optimal settings applied for an instantly executed trade. it also cuts down on trading time.
The effects this would have on the time taken to fetch rates are negligible.
To celebrate the holidays, ALL DegenInsure plans that are purchased between now and 1st January 2024 will be auto-renewed when we open up plans on Solana. Protect your assets on Ethereum now, and get a FREE plan on Solana as well! Get started 👉
2. Industry-leading routing
Powered by
@EnsoFinance
, DegenDEX is able to search for the best routes for any trades you could possibly make across numerous DEXs. The routing algorithm is one of the most sophisticated in the space.
1. Revenue sharing
50% of all revenue generated from the DEX usage will be shared with $DGNS holders. You can find out more details in the revenue sharing section of our docs here:
We’re now LIVE on Uniswap! We can now proceed to build the world’s first fully insured ecosystem, bringing safety to the crypto industry! You can purchase some tokens here: …We’ll be releasing the first few apps in our ecosystem soon, so stay tuned!
WayFinder API routes are also covered under DegenInsure plans, so this is huge for the industry, as we can make DeFi safer for everyone, even people that don't want to use our (awesome) UI. WayFinder docs will be released soon, so keep an eye out.
Failed swap guardian works by first simulating the swap on a local blockchain hosted on our server before fetching the rate. If the swap fails with our pre-loaded settings, we will generate new settings and re-try the swap to ensure it would work without failing.
Firstly, DegenDEX is fully insured on all swaps, meaning that any swaps where you don't get any value at all will lead to a full refund of your traded funds. We're able to offer this kind of guarantee because of our superior router algorithm.
3. Front-run protection
We were able to beat front-running by using a combination of
- a sophisticated order-matching algorithm that significantly reduces the time window for transaction execution, making it extremely difficult for frontrunners to exploit price discrepancies.
We’re here for the very very long run. We want to build a long lasting, thriving ecosystem of high quality apps that are not only safe to use but also share revenue with users.
All this will only be possible with the community’s support, so I’m asking for that here on day one!
But that's for traders. What about projects?
DegenDEX's WayFinder API is available for projects to implement into their products. You'll be able to call the WayFinder API and receive an unsigned transaction for your users to sign using their wallets.
Degens everywhere are getting scammed left, right and center, and it really sucks to watch, especially when they could be protected using DegenInsure. We want to make sure they know about our services so they can be protected next time!
But wait, there's more!
You can also earn DegenPoints by trading on DegenDEX! DegenPoints are a digital collectible in the DegenInsure ecosystem. Currently, they're just collectibles, but users can vote on what they want their DegenPoints to be used for,
In the coming days, we will release each of these apps one by one. They will all be amazingly designed with clean UIs and above all, completely safe with insurance at the core.
Thank you for your support so far!
DegenInsure has re-locked the liquidity pool for another 3 months to show its commitment to the project and provide consistent and safe liquidity for traders!
These competitions will drive volume through the DEX, bridge and other apps, 50% of the revenue from which will be used to reward users. The other 50% of the remaining revenue will be used to buy back and 🔥 $DGNS, reducing its supply!
- a decentralized oracle network that provides real-time, tamper-proof data feeds to the DEX, ensuring accurate and timely information for traders. This eliminates the need for users to rely on external sources, which can be manipulated by frontrunners.
Our algorithm not only prioritizes the safest routes, but also is able to prevent your funds from being stolen in a rugpull while you're swapping. We do this by continuously monitoring the liquidity pools we route your tokens through.
4. Tax refund for number 1 $DGNS trader
Every month, the number 1 trader of $DGNS on DegenDEX will be rewarded their taxes back in full in $ETH. Read our Ts & Cs for more explicit info on how this works.
“SO WEN REV SHARE?!” you ask. Well dear degen, rev share will be released immediately after we release the entirety of our fully insured suite, which is almost done being developed! In other words, really, really SOON!
Demo video showing how to purchase cover on DegenInsure. You are NOT ready for what’s coming.
- clean, minimal design
- ultra fast transactions
- actually affordable premiums
- actual coverage with a cover pool
Get your body ready!
If we sense that the deployer has made any form of approvals on the pool itself, we will pause the swap, essentially putting it in 'limbo' and funds will be returned back to your wallet (minus gas). This makes DegenDEX possibly the safest DEX ever created with active rug cover.
First off, where would the 💰come from? Primarily from our insured ecosystem apps! You can read our docs to find out more about these apps, but they will be the primary source of the revenue payout.
5. Gas refund for top 20 traders
Also, every month, we will give back the total gas cost spent on DegenDEX to the top 20 traders on the DEX. The gas will be paid in full, in $ETH. Read our Ts & Cs for more explicit info on how this works.
To celebrate the holidays, ALL DegenInsure plans that are purchased between now and 1st January 2024 will be auto-renewed when we open up plans on Solana. Protect your assets on Ethereum now, and get a FREE plan on Solana as well! Get started 👉
DegenInsure's aim is to build a suite of fully-fledged crypto apps that are all completely insured. We believe that crypto is currently the Wild West, and there are many scammers looking to make a quick buck off of unsuspecting victims.