Egg.fi: DeFi finally accessible to all (+Airdrop)

Ah! If you have searched for a long time for an opinion on Egg.fi and you haven't found what you wanted, you will be served in this article. Even if the platform was designed in 2017, it is especially at the start of 2021 that we are hearing a lot about it. This is certainly due to the fact that DeFi has experienced new growth recently.

We're going to tell you everything on the platform Egg.fi which promises us generous returns! We -curiously- received many messages asking if it was worth it. Of course, with returns like this, you have every right to be skeptical.

Besides, it's good to be dubious in general with cryptocurrency sites. Always do your own research and above all make your decisions for yourself, eh.

Finally, after this brief introduction, it is time to dissect the Egg.fi project, not to be confused with the singular site which is French marketplace software!

You will see that this platform has been designed to be simple to understand and use. It combines ease and attractive performance. You understand: these are the two criteria for a platform that will be a hit.

But then what is it? Egg.fi?

To summarize, we can say that Egg.fi is a site with several DeFi financial services. Yes, you can do several things on the site such as staking, Liquidity Mining and in general, you guessed it, these are services to make your money grow.

The ultimate mission of Egg.fi is to allow you to generate passive income in different ways by simplifying the process. Reducing gas costs, simplifying access to farming and being multi-chain are just some of the specificities of Egg.fi

If the platform makes so much noise and so many followers, it is certainly because you can earn a lot of money there but also and above all because the platform is very simple to use.

Honestly, have you tried it? It's really ideal for a novice and it's also very pleasant for people who are used to DeFi protocols (it must be admitted that it's a very simple interface in general). In short, its ease of use is, most certainly, a huge advantage compared to other platforms.

The clear objective of Egg.fi is to make DeFi accessible to everyone. If you thought DeFi protocols were complicated to use, then Cocoricos will please you.

Yes, many people have not taken the plunge into DeFi protocols for the simple reason that they found it complicated at first glance. Yes, and when we go to the Cocoricos.io platform, we are surprised to see such a clear interface.

Okay, so it's a semi-centralized site on the one hand. Why semi? In fact, you can register with an email address but you can still connect your MetaMask wallet.

Also, regarding the founding members, it is not specified on the site but it was easy (?) to assume that the team was French….Do you understand why it was called “Cocoricos” before, hum?

You will find on Linkedin, the members of the team whose Mehdi Radi, the co-founder with Pierre Notton:

Methods for generating passive income on Egg.fi

What makes the Egg.fi platform very interesting is that it provides a greater return because it also offers EGG tokens. This therefore adds additional tokens to all services. If we assume that the EGG token will increase in value as the platform grows, then this remains twice as interesting.

Generally, you earn a single token when you participate in staking or Liquidity Mining, well, with Egg.fi, you also earn Egg tokens.

So, critics will say that the EGG token is not worth much, but we will respond that DeFi protocol tokens have shown us – through experience and history – that they tend to increase in value as the platform gains users.

Similarly, the Egg token will also subsequently be used to pay fees, which is where we have the “certainty” that the Egg token will be able to gain in value.

There are three main ways to earn cryptocurrencies on Egg.fi

• Staking
• Liquidity Mining
• Airdrops

We will see in detail what exactly this consists of.

Staking:

It must be said that it is very tempting to participate in staking on cocoricos. For example, if you choose to stake the equivalent of $100 of DODO token for 180 days (i.e. today 27 DODO), you earn 191.5% APY also paid out with EGG token and DODO.

For our part, as fervent defenders of Ethereum, we participated in the staking of DODO and that of Ethereum, for example. We will give you an assessment in 180 days.

Liquidity Mining

On Cocoricos, you will also have the possibility of becoming “ liquidity provider  » in pools. This means that you will have to deposit cryptos of a pair of your choice (for example an equal amount of LINK and ETH). Also, the period is 180 days of locking; you will not be able to withdraw your invested capital. Likewise, you will also be rewarded in EGG token.

At the time of writing this article, it is still in beta. So maybe it would be wise to wait until this is updated. You can never be too careful. Otherwise, it must be admitted that the yields offered are very interesting, such as 94% for the Curve 3 pool.

Having tested the platform, not all peers are yet available and we have seen that sometimes transactions have difficulty being validated on the network (see our conclusion).

In principle, this remains very attractive because you can earn commissions on transaction fees on the one hand and additional income via the EGG tokens that you also receive.

By the way, when you click on the peers, you will see how many Egg tokens you will receive.

Earn tokens with airdrops

Well, you normally know airdrops, right? These are tokens that are offered for free in exchange for a few simple actions. Usually, you are asked to register or share a post on social networks. To thank you, we offer you free tokens as was the case with the application chainge for example.

So on Egg.fi, you have the opportunity to have brought together on the same platform the best airdrops from the moment.

However, not all platforms will offer you rewards. Very often, these are simply registration links.

That said, you can discover interesting platforms like DefiChain (we are preparing an article on the subject for you) or Pancakeswap.

So here are the 3 main ways to earn cryptocurrencies on the platform.

How to get Egg Tokens

Egg.fi's token is the Egg token, naturally. Yes, it's a good balance between the chicken and the egg. So, to have some, since the platform is new, you will have in the aidrop, tokens obtained for free. All you have to do is connect your account to social networks, for example, to earn Egg tokens for free.

Why refuse free tokens? Tokens, which, if the company proves to be solid and reliable, could increase in value.

There is also the direct purchase method to buy Egg Token:

To do this, after registration, you can purchase them through unitedwap directly. So, you will of course have to have ETH to pay the fees. Also, the ideal would be to have a little more than 1000 ego tokens (the equivalent as of March 21 of 0.024 ETH, or approximately 45 dollars).

With the 1000 Egg Tokens, you will be able to make them grow by staking.

Please still read our final word before investing in Egg Token and the Cocoricos protocol in general.

Finally, the Egg token will also be a token to pay platform fees but also a governance token. Holders will then be able to participate in major decisions on the platform.

Final word on the Egg.fi platform

As we have seen, the platform is very intuitive and indeed for someone unfamiliar with DeFi protocols, it can be an excellent alternative.

Also, we remind you that on the one hand, it is a platform in beta version; which means that flaws may appear. Basically, your capital can suffer if technical issues break the code or hacks occur.

While caution is advised for all DeFi protocols in general, this is especially true for new platforms.

Another thing, this is certainly in beta but it's also a completely new platform. We have no information on the members of the team for example….Even if the company is based in Sweden (and not in France obviously) and not in a tax haven either, this can still help us. reassure about the legitimacy of the company. That said, the team seems French with an international view.

Finally, the platform has everything to please and most certainly, it will attract more and more users. On the one hand, it allows you to generate interesting cryptos with very high returns which are highlighted and its navigation remains much simpler than on other platforms. This could even be the ultimate way to attract DeFi beginners.

The potential is therefore enormous.

We invested in the EGG Token and also participated in staking. We will keep you informed of our investments going forward.

***We are also very excited to see the platform open up to Binance Smart Chain and other chains to obtain lower fees than on Ethereum.

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Disclaimer : This article is provided for informational purposes only. This is not financial, legal, tax or investment advice. Always do your own research before investing in any crypto.