If you read my previous article about DEGO introducing the project and their ambitions then you might remember that they have progressed from an ethereum blockchain DeFi project to a multichain DeFi project now flourishing on BINANCE Smart Chain. For those that haven’t seen my introduction article, you can follow check it out here.
Previously I discussed their unique use of NFT’s for mining their native DEGO token as well as the alluring fact that you can mine DEGO on BSC with an NFT that is extremely limited and increases in value over time. Well, another unorthodox method DEGO emplores is the collaboration with other DeFi projects to give DEGO users a chance to mine another project’s token utilizing their standard DEGO NFT. However, on top of that, they provide the opportunity for users to use the specific tokens they mined in combination with 1 DEGO to cast a “collaboration” NFT. Those that were able to utilize the foundry had the ability to cast these NFT’s which are specifically designed to mine in the mining pool with higher rewards.
Their current collaboration with Bounce Finance seemed to have several problems related to the Bounce development team using their allotted tokens to mint BOT NFT’s which gave them a head start for mining in the higher rewards pool. With that being said I still participated in the standard mining in which I utilized my standard DEGO NFT picks and withdrew all my picks and earnings when I reached 0.026BOT. From my analysis, I spent 0.02BNB to stake my mining picks and 0.03BNB to withdraw everything, at the current price I have earned 0.394394BNB worth of BOT.
**As an added bonus for the really great collaboration between ALPACA and DEGO I have decided to personally fund a ALPACA NFT Giveaway. I will be giving away up to 2 ALPACA NFT’s and all I ask in return is for you to re-tweet this article and leave an engaging comment on this post.**
As you can see in the image above the new DEGO NFT’s that are being created in collaboration with other projects such as ALPACA City and Bounce opens up opportunities to mine in higher yield mines designed to reward users in either ALPA or BOT tokens. As the current Bounce mining campaign is coming to an end the ALPACA campaign began on Dec. 4th with the release of Machu Pichu Temple where standard DEGO picks could be used to mine ALPA tokens. Subsequently, on Dec.5 the DEGO foundry was opened for users to craft limited ALPACA NFT’s that can mine in the Machu Picchu Pyramid reserved only for ALPACA NFT’s.
One of my favorite parts about their collaborations is that you get the opportunity to utilize NFT’s you already own to mine other projects tokens essentially at no cost to you. While the Bounce finance foundry was extremely difficult for most to cast BOT NFT’s the new collaboration with ALPACA has made it far easier for the average user to cast a ALPACA NFT for mining in the higher rewards pool. For example, to be able to cast 1 BOT NFT you would have to either purchase the BSC-based BOT (currently only a placeholder token) or mine 0.1 BOT which is the minimum threshold for casting. To put this in perspective I began mining within 20 minutes of the mine opening about 27 days ago and withdrew everything after 18 days only accumulating 0.025599BOT. While I acknowledge that I was only mining with 2 Gold and 2 Silver Picks, with less than 3 days left the exclusive BOT mining pool is being exclusively mined by large investors.
While this situation that occurred with the Bounce and DEGO collaboration was certainly something that goes against the original intention of DEGO Finance, which is to provide the ability to access Crypto DeFi without having large bags. Fortunately, the ALPACA collaboration has already proven to be far fairer for the average user and the ALPACA team provided 5,000 first come first serve ALPACA NFT’s to be used on their platform to mine the ALPA token. So not only can you mine the ALPA token through the DEGO platform with standard mining picks, but you can mine through the ALPACA.city platform and cast exclusive ALPACA NFT’s in the DEGO foundry. Within the first 24 hours of mining ALPA with my standard mining picks, I had roughly 2.4 ALPA which was enough to go to the foundry and spend a minimum of 1 ALPA to cast the NFT.
While the ALPACA and DEGO collaboration just began on the 5th, the amount of ALPACA cast through the DEGO foundry absolutely eclipses the amount of BOT NFT’s that were cast. Just as an example to compare to my results from the BOT mining I have mined roughly 20 ALPA in the past few days, I have also cast 5 ALPACA NFT’s which I am using 3 for mining and hope to sell the other 2. The unfortunate part about casting is that you receive a random quality which is the reason I am only keeping 3 of the ALPACA NFT’s that I cast. From my point of view, this collaboration has already worked out much better than the one with Bounce finance.
NFT Giveaway Reminder: if you Tweet this article and leave an engaging comment on this PUBLISH0X post you will be entered in a random drawing to win 1 of 2 ALPACA NFT’s that can immediately be used through bsc.dego.finance to mine ALPA tokens. **AS an extra bonus the winner of the ALPACA NFT's will also receive a hand crafter $FARM finance NFT and several other random contributors will also be gifted the NFT created by none other than our very own Publish0x writer PVMihalache.
P.S. DEGO is a great project for earning passive income.
Thank you for taking the time to read my article! I quite enjoy the direction DEGO is going and may write more articles in the future if it is well received.
If you have any questions or suggestions for me engaging comments are encouraged!!!
~ Trever Russell
This article was originally published on Voice.com
