dForce Partnership With Deri

Published on: 11.05.2021

dForce announced partnership with Deri protocol to promote the soon-to-be-launched dForce synthetic assets.

USX, an over-collateralized stablecoin minted from dForce Lending & Synthetic Asset Protocol, will be added to Deri’s base token list to be used as deposit for derivatives trading.

Users are able to mint USX against their crypto assets (major crypto assets such as BTC, ETH, UNI, etc) deposited into the lending protocol. The yields on collaterals will effectively reduce capital cost of USX loans. Simultaneously, USX can also be used as collateral to mint other synthetic assets (i.e., xEUR, xBTC, xTSLA, etc), or facilitate payment, lending, trading as dollar-pegged stablecoin.

The partnership with Deri is a solid step forward for USX to expand its business outreach beyond the dForce ecosystem. Deri Protocol is a Uniswap-style pool facilitating trade of derivatives in a decentralized manner. The pool works as liquidity medium and makes base token (i.e., USX) transactions with traders and liquidity providers.

What is dForce?

dForce advocates for building an integrated and interoperable open finance protocol matrix, covering assets (multicurrency stablecoins, synthetic assets, USDx, GOLDx), lending (global liquidity pool) and trading (aggregator and AMM). dForce is currently deployed on Ethereum and Binance Smart Chain (BSC).