dForce is coming to Polygon!
dForce will be deploying a full set of DeFi protocols including lending and stablecoin USX on Polygon, continuing dForce’s expansion efforts to become multi-chain interoperable DeFi Infrastructure in Web3.
By introducing dForce Lending and USX to Polygon, the Polygon ecosystem will have more choices for end-users and more integration opportunities to facilitate organic growth of the Polygon ecosystem. Below are specifics of the integration.
Stablecoin USX
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, making 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.
On top of other stablecoins deployed on Polygon such as USDC, USDT, DAI, and FRAX, onboarding USX to Polygon will add another decentralized stablecoin to the Polygon ecosystem. With current USX market cap near $200mil, this additional liquidity will help to scale Polygon’s DeFi ecosystem and liquidity between other blockchains and Polygon.
dForce Lending
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.
dForce Bridge
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 Polygon 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.
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 they operate on. They have already secured validators for Cosmos, Osmosis, Juno and also look forward to becoming a validator for Polygon. Their initiative will further align their interests with the chains they deployed on by not just providing open staking service to token holders of respective chains but also will actively participate in the governance.
About dForce
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 with a TVL of $495m (Data Source: Defi Llama).
Their 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.
dForce also have a pool-based multi-sided lending protocol which supports multiple collaterals with a market-driven dynamic interest rate model.
dForce’s smart contracts are audited by Trail of Bits, ConsenSys Diligence, Certik and Certora, with a bug bounty launched through Immunefi.
About Polygon
Polygon 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. Polygon aims to be the EVM Hub of Cosmos, making it easy for smart contracts to deploy and communicate within the Cosmos ecosystem.
SOURCE: https://medium.com/dforcenet/dforce-is-coming-to-polygon-a6cb7a134573
