What Is DUST?

Have you heard of the DeGods NFT collection? In this article, we will discuss the DUST protocol, DeGods NFT collection, and use cases of DeGods.

What Is the DUST Protocol?

DUST Protocol is a multi-chain protocol that operates decentralized on Solana Polygon and Ethereum networks. 

The NFT project known as DeGods built the DUST Protocol. This "experimental collection" of brightly colored profile images was produced on the Solana blockchain and is being referred to as a "collection." Utility tokens for the DeGods NFT collection are represented via the DUST protocol. Holders of the DUST tokens can earn DUST by staking their DeGods NFTs. 

DUST is a protocol developed to protect against an attacker who uses Deep Packet Inspection (DPI) to fingerprint protocols to block or rate-limiting connections. To ensure that the protocol cannot be observed, every packet is made up entirely of bytes that are either randomly generated or encrypted. This makes it impossible to tell one packet apart from another or random packets.

What Is DUST Utility Token?

The DeGods NFT collection was created with functionalities as a primary focus, and DUST is required to access its functionalities. Every DeGods NFT has the potential to yield DUST via NFT staking.

DeGods holders have the staking opportunity to earn 2.5 DUST per day. That equates to a daily rate of $2.01 at its current price of $1.009 (as of August 15), so be sure to factor that into your budget.

On the other hand, the team has only lately made public an upgrade for DeGods that will be known as DeadGods. The price of upgrading from the first NFT is 1356.31 DUST. After that, you can stake these DeadGods to receive a daily dividend.

Current trading price: $1.009 

Market capitalization: 130.89 million

Total supply: 134.87 million

What Is DeGods?

Discussing the DUST Protocol or the DUST token is impossible without first explaining what DeGods is. It was this NFT project that brought international attention to DUST Labs. 

DeGods is an NFT collection that DUST Labs developed on the Solana blockchain in October 2021 with 10,000 NFTs.

This NFT project was on a roller coaster ride of emotions during the previous bull market. As soon as the bear market began, the value of the NFTs on Solana decreased significantly. As a result, many traders started to believe that the project was a rug pull. Despite this, the community was able to persist despite the difficult circumstances. The DeGods NFTs have become synonymous with "exclusivity" and are currently regarded as one of the most successful NFT initiatives. 

Use Cases of DUST Token

The following are some examples of noteworthy projects on the Solana Ecosystem that make use of the DUST function when it is integrated:

Following DeGod's goal for integration, player-versus-player (PvP) and play-to-earn (P2E) NFT games will accept currency from many marketplaces.

This benefit is completely predicated on the fact that DeGods is constructing an ecosystem in which DUST will be utilized as the currency of the space, making it possible to buy, sell, and mint NFTs.

In addition, the documentation for the project emphasized that deadgods is only the beginning of the process. The subsequent iteration is anticipated to include a unique and distinct NFT that can only be mintable with DUST tokens. These plans have been formulated.

DUST is a utility token used with the DUST Protocol. Therefore, the goal is to make community governance easier. Holders of DUST can propose suggestions and vote on matters on the DUST DAO and its treasury, which is the goal of this initiative. 

Tokenomics

DUST’s maximum supply is 33,300,000 There were three halving periods for DUST. Each halving resulted in a reduction of DUST staking payouts by 50%.

The first halving resulting in 16,650,000 DUST coins, occurred on June 4, 2022. The second halving resulted in 24,975,000 DUST coins on August 6, 2022. Mining totaled 29,137,500 DUST tokens on the third and final halving, which took place on October 10, 2022.

The total supply of DUST has been successfully extracted and released into circulation.