dForce Liquidity Mining Program On Arbitrum
dForce Launches $50M Liquidity Mining Program on Arbitrum
dForce Liquidity Mining Program on Arbitrum. The initiative will accelerate the onboarding of dForce’s full suite of DeFi services onto Arbitrum — lending, native multicurrency stablecoin (USX, EUX) as well as synthetic assets (stock, commodity synthetics).
I-Still-Feel-Summer
The “I-Still-Feel-Summer” liquidity mining program will kick off with DF, dForce’s native token, as liquidity mining incentives for its lending protocol. At later stages, the offering will be extended to dForce’s native stablecoins (USX, EUX) and synthetic pairs in DEX.
dForce started out as a suite of DeFi protocol matrix on Ethereum, founded by early Ethereum participants and evangelists. The core developers behind dForce protocol have always considered Ethereum a core architecture and platform.
However, skyrocketing gas fees driven by exponential increase in the number of DeFi and NFT protocols made Ethereum layer 1 unsustainable for most DeFi protocols. Despite various EKs and sidechains, layer 2 remains the most promising hope for Ethereum scalability, with calculated tradeoffs.
Layer 2
Layer 2 can be imagined to be an underground city expand on existing metropolis, where most of the public infrastructure is shared with the upper Ethereum Metropolis (security, decentralization, immutability, global settlement etc). Significant vertical scalability is possible through layer 2 solutions.
dForce has been an early advocator of Arbitrum (as well as other scalability solutions). We have selected a multichain strategy in parallel to layer2s for Ethereum alignment as a core of our strategy.
dForce is the most comprehensive protocol in DeFi. With lending at its core, we also have multicurrency native stablecoins (USX, EUX, etc) and synthetic asset protocols (stocks, commodity synthetics, etc). So dForce is bringing a full suite of core DeFi services to Arbitrum, efficiently filling the gap of DeFi services that does not yet exist on Arbitrum.
The liquidity mining program covers lending liquidity (i.e to incentivize deposit, borrowing of major cryptos, and minting of USX/EUX stablecoins) as well as incentivizing liquid USX or EUX and other synthetics pairs in DEX. The liquidity mining will be phased out in several stages, first with lending, then DEX trading liquidity mining.
Stage 1
Mostly incentivizing lending protocol, predominantly on USDC, USDT, ETH, and WBTC, with full details on the liquidity mining schedule starting from September 14, 2021.
Stage 2
Expand to cover liquidity mining incentives for USX liquidity pairs in dForce trade (DEX), which is highly capital efficient. Pairs such as DF/USX, USX/USDC, and USX/EUX will be include.
Both stage 1 and stage 2 liquidity mining may involve a third-party protocol. An example is the current trio-liquidity mining initiative between dForce, StaFi, and Liqee on BSC. There are a number of partners who are passionate to join our liquidity mining program.
About Arbitrum
Arbitrum’s architecture uses Optimistic Rollups to bundle all transactions done on the Arbitrum chain, and subsequently posts it on Ethereum. Arbitrum an optimistic rollup which enables anyone to verify transactions on Arbitrum not fraudulent before posted on Ethereum through interactive proving. Interactive proving is a method that allows a dispute between two parties, the proposer and the challenger, to solve their dispute off-chain so that it’s more efficient & not as costly to post on Ethereum.
About dForce
dForce advocates for building a complete set of DeFi protocols covering assets, lending, trading, serving as DeFi infrastructure in Web 3. dForce currently deployed on Ethereum, Arbitrum, Optimism, and BSC.
The core protocols include both pool-based multi-collateral and vault-based single-collateral multi-currency stablecoins (USX and EUX). Implemented with PDLP (Protocol-Direct-Liquidity-Provision) and POO (Protocol-Owned-Operator), we are able to combat liquidity shortage effectively for protocols integrated with USX and EUX.
