Proposal of Liquidity Migration onto Pancake Swap to reduce users’ GAS fee spend

Dear Dego Community members:

I hope this message finds you well. First we would love to express our gratitude for all supporters along the journey. It is your recognition that made Dego what it is today and kept us going till now.

In September 2020 when Dego.finance went live, we injected 700 ETH and 1,050,000 DEGO Tokens to Uniswap as the Initial Liquidity Pool, and we appreciated your participation in DEGO Token trading. Now problem of high GAS fee on Ethereum network has become intolerable and costed all users a fortune to trade, with a single transaction costing over 50USD of GAS.

For this very reason, we also delayed products launch on Ethereum and started development work on Polka Dot Parachain.

As of now, Binance Smart Chain remains as most affordable and suitable choice for building Dapps and token trading and we’re lucky to have made the choice. We’ve deployed multiple Dapps(NFT Foundry, Mining, Auctioning, Treasureland.market, NFTforGood.org and ScanDrop) since migration in last October, which are some of our best efforts.

Given above, we would love to propose that a migration of Initial Liquidity Pool (700 ETH and 1,050,000 DEGO Tokens) to Pancake Swap on Binance Smart Chain. Should this proposal went smoothly among community members during 3 days of voting, we plan to deliver this Liquidity Migration in a few days after the vote.

Liquidity Pool Migration Procedures will be,

1. The chosen percentage of LP token will be removed from Uniswap.
2. DEGO Tokens released from these LP tokens will be burned and equal worth of DEGO Tokens will be minted on Binance Smart Chain. (The Max Supply of DEGO Tokens on all chains is always capped at 21 Million)
3. ETH released from these LP token will be exchange for equal worth of BNB on Binance Smart Chain.
4. DEGO and BNB tokens mentioned above will be injected to DEGO/BNB Liquidity Pool on Pancake Swap.

Please select your preferred percentage of Liquidity to be removed from Uniswap and moved into Pancake Swap. Unchanged 30% 50% 70%

And last but not least, we hope everyone a jolly bullish 2021. May the fortune be with you.

Best regards, Core team Dego.finance