NFTeGG vs. “Degen” DeFi Projects
why i should Invest in NFTeGG ? and where is the different to “Degen” DeFi X ?
At this moment one DeFi project after the other appears as fast as it comes and disappears again.
- what are the differences ?
- why is an ecosystem important ?
- and what should I look out for ?
This post should give you a small overview what makes NFTeGG so special, and where exactly the differences to other “FOMO” DeFI projects are.
What are the differences in DeFi, Staking and Token Projects and System’s ?
- Total Supply
Most projects have no supply limit, they just keep on mining if they need it for a Reward or Payment 💸.
NFTeGG started with 10.000.000 eFAME and different burn mechanism as there is NO WAY ! to mine future eFAME the Value will grow steady and allows us to ensure a stable chart.
Many projects have a big Presale where they like to collect 100’s ETH upfront as Product or Service. They spend just 10ETH on advertisements and collect 100’s ETH in revenue. NFTeGG selected 20 different Presale Investors who were able to buy 1 Chunk of 50k eFAME for 1 ETH per person. This Presale was about 10% from the total Supply but ensures a long and stable running time and was also Provided to the Uniswap Pool.
- Airdrops and Free Token
Other projects often simply drop simple coins or nfts to interested people to generate attention through the ETH Fee as Fee Burner on Etherscan.
“Grab a “free” NFT just pay our 5–10$ mining Fee” or “Here you get 100 Coins as Airdrop” but the allowance and Trading Fee will be x10 as its worth in this moment.
NFTeGG just have one product, this costs 0.1 ETH and each eGG has the chance to draw an iClops that reflects at least 3–8 times the value in resale.
- Whoever comes first collects the most
Most farms have a total pool of coins which is output per block. The more people participate in the system, the less the individual user gets paid. This makes it almost impossible for late entrants to get a good payout rate.
NFTeGG works with one multiplier per Series. Each eGG has a power value which is calculated with a global multiplier. So the payout value remains the same no matter if there are 1 or 1000 items in the whole farm.
- Token1, Token2, Token3
It is common practice for a “Degen” Defi project to have 2, 3 or even 4 different ERC20 Reward or Function Token. None of these tokens has a correct value and is often represented as utility tokens. But its a systems which burn or use another value to create something “worthless”.
NFTeGG use 2 different Types Token NFTeGG ERC721 and eFAME ERC20.
- and NFT1, NFT2, NFT3…
In the same way that tokens are multiplied and created from the air, new NFT’s are constantly being brought out, which are expensive, rare or better. So you are always forced to follow the trend or you fall by the wayside.
NFTeGG has a strict plan that there will be 7000 items per series and 10 series in total. Each series starts one after the other and it will not be possible to buy 2 different eggs at the same time.
- Values decoupling Items and Token
As in the points already described, most attempts are made to create a decoupling of the values. Free Items, many different Tokens or any other way to find a way or hole to flood the Supply or empty the Market. NFTeGG works works in a different way. Every sale of eGG’s stabilizes our eFAME token, and every eFAME sale increases the return to our investors. We decided to go for a cycle because everything else leads to a worthlessness of a couple.
- Backdoors, non verified Contracts or 20 Proxy Contract
Many people just use some contracts they downloaded from Github and in the end don’t even know how deep they are.Whether money disappears or not is usually planned or covered up as a silly coincidence.
NFTeGG uses 3 contracts and all are open source and verified. These contracts were made directly for our purpose and are no copy cats or other “findings”.
Why is an ecosystem for a DeFi Project important ?
For a Defi project, the heart of the whole thing is its ecosystem and tokennomics. As soon as worthless or dead couples appear in an ecosystem, this part of the ecosystem pulls the whole system down in the long run or reflects a false value to the customer.
This is exactly the reason why we at NFTeGG decided against letting anyone participate in our ecosystem for free. of course, from a marketing point of view, it is not a smart move to demand money from your “investors” and supporters, but it is the only way to build a stable base for an ecosystem.
Continuous burning, not giving away large sums of tokens, and not endless supply are just some of the advantages that the NFTeGG project offers your supporters and invetors. At least we are a funny and crazy crew and happy about any new Face in Cloptopia 😎.
What should I look out for as i like to invest in a DeFi Project ?
If you consider all 8 points of the above list, you should be able to quickly see if a Degen DeFi project can develop a value or if it is a previously defined downward loop.
Go into the social media of your desired investment and see what they report about themselves or get in contact with the community in telegram or discord. If you meet people with whom you have fun on a project, you should also make your choice there.
But if you are impatient and only want to make a dull profit, maybe no community project is right for you, especially since there is always a give and take side on community projects ✌️.