dForce is coming to Evmos and will be deploying a full set of DeFi protocols including lending and stablecoin USX, continuing dForce’s expansion efforts to become multi-chain interoperable DeFi Infrastructure in Web 3.
Evmos will act as the port of entry to the greater Cosmos ecosystem for dForce users and vice-versa. This integration will allow developers developing Evmos DeFi protocols to integrate USX, dForce’s native decentralized stablecoin, enable end-users to generate attractive yield from lending, and give users the freedom of choice to hunt for the highest return between blockchains and access to liquidity across different chains. dForce also brings its highly flexible and battle-tested lending protocol, which is a foundational protocol that could help EVMOS build its base layer DeFi protocols.
USX is the first stablecoin which is easily to be integrated with any lending protocol and vaults models, where it could support both pool-based multi-collateral as well as isolated-collateral vaults, makes it extremely flexible and efficient to support collaterals of different risk profiles, i.e major crypto as well as yield-bearing crypto and LP tokens.
USX is also the first decentralized stablecoin that features over-collateralization, highly capital efficient via PDLP (Protocol-Direct-Liquidity-Provision) and cross-chain operation (integrated with c-Bridge). With circulating supply of close to 200m and growing, it is currently deployed and bridged across Ethereum, Arbitrum, Optimism and BSC, making it the few decentralized stablecoins with cross-chain capabilities.
Onboarding USX to Evmos will bring more decentralized stablecoins to the Cosmos ecosystem and help to bridge liquidity from other chains to EVMOS and the broader Cosmos ecosystem.
dForce Lending is currently the largest Lending protocol on Arbitrum in terms of TVL and it’s the very few full-suite lending protocol deployed across Ethereum, Arbitrum, BSC and Optimism.
It is a pool-based multi-sided lending protocol which supports multiple collaterals with a market-driven dynamic interest rate model.
dForce Lending is a battle-tested and comprehensive money-market and lending protocol, it has been deployed for more than a year and has undergone extensive code reviews and security audits by Trail of Bits, ConsenSys Diligence, CertiK, Certora (formal verification), with a bug bounty launched through Immunefi. dForce Lending has successfully withstood a number of market turmoil and drawdowns and battle-tested.
With a target to bring the best of all worlds and connect users of multiple chains with cross-chain liquidity, dForce Bridge will be launched to facilitate the bridging of $DF and $USX across Ethereum, Arbitrum, Optimism, BSC, and EVMOS with lower fees and faster transaction speeds.
As a start, dForce partnered with Celer’s cBridge to power cross-chain bridging of $DF and $USX. The liquidity flow will be mainly powered by protocol-controlled liquidity through PDLP, which is highly efficient with zero slippage and low fees. Moving forward, we will look for more collaboration and introduce dForce customized bridges to facilitate cross-chain bridging of more assets in a decentralized manner, serving as general public infrastructure to power the growth of DeFi.
Open Staking Initiative
dForce is aiming to build DeFi infrastructure in Web3, which network validation in PoS networks is a critical part of the infrastructure. dForce is to launch Open Staking Initiative, which will provide validation service with lower fees and broader access to staking across the blockchains we operate on. We already secured validators for Cosmos, Osmosis, Juno and we also look forward to becoming a validator for EVMOS. Our initiative will further align our interests with the chains we deployed on by not just providing open staking service to token holders of respective chains but also will actively participate in the governance.
dForce advocates for building a complete set of DeFi protocols covering assets, lending, trading, serving as DeFi infrastructure in Web 3. dForce is currently deployed on Ethereum, Arbitrum, Optimism, and BSC.
Evmos is an application-agnostic chain that will be interoperable with the Ethereum mainnet, EVM-compatible environments, and other BFT chains via IBC, making it easy for users and developers to interact seamlessly between chains. Evmos aims to be the EVM Hub of Cosmos, making it easy for smart contracts to deploy and communicate within the Cosmos ecosystem.