dForce Ecosystem Update | May 2021
Integrated and interoperable open finance protocol matrix, dForce introduced ecosystem update for May 2021.
dForce Lending & Synthetic Asset Protocol is officially live on both Ethereum mainnet and Binance Smart Chain (BSC). As a combo offering thatThis 3-in-1 DeFi protocol brings the best out of generaltogether lending, native stablecoins and synthetic protocols, it is: assets. Highlight features include:
A global pool-based general lending protocol, with instant lending and borrowing of crypto assets from the pool managed by smart contracts in an open, permission-less, and decentralized manner.
With built-in multisided lending support, users are able to mint synthetic assets, including stablecoins and other synthetic asset, against yield-on collaterals, which effectively improve capital efficiency and robustness of the system with unlimited collateral and synthetic capabilities.
In other words, this combo3-in-1 protocol allows users to retain the flexibility and asset scalability of a lending protocol, significantly expand the funding source of the synthetic assets, and give yougives users unlimited, uncensored, and instant access to any asset imaginable, subject to governance approval by DF holders.
dForce’s Summer Vibe Liquidity Mining Initiative
The Summer Vibes initiative will include rewards on lending and borrowing activities, minting synthetic stablecoins, as well as providing liquidity for dForce synthetic assets. The revamped DF liquidity mining will be carried out on both Ethereum and BSC, however, for Ethereum, liquidity mining will only be activated for lending activities and minting synthetic stablecoins.
DF liquidity mining will be carried out in three forms, namely:
- For lending: DF rewards will be distributed evenly between lending (50%) and borrowing activities (50%), with a fixed amount for respective asset.
- For minting: minting synthetic stablecoins (USX, EUX) will get rewarded. Please note that minting USX and EUX, require to pay interest rate accrued on an annual basis (aka an over-collateralized loan, borrowers need to pay the protocol for the opportunity to mint synthetic stablecoins).
- For liquidity providing (only on BSC): Pancake LPs will receive DF rewards by providing liquidity for supported pairs on Pancake.
The first phase of Summer Vibes liquidity mining initiative will start on 4th June and end on 18th June.
dForce Announces Partnership with Deri to Promote USX
dForce is now partner with Deri protocol, a decentralized derivative 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.
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 is an integrated and interoperable platform of opening finance protocols, building a full stack DeFi protocols and creating an interconnected, interdependent protocol ecosystem.
📰 INFO:
https://medium.com/dforcenet/dforce-ecosystem-update-may-2021-a54e2abb1e9f
