dForce offers a variety of features, including lending, borrowing, trading, and staking, all of which are designed to be interoperable with other DeFi protocols. The platform is built on Ethereum and leverages the security and transparency of blockchain technology to provide users with a decentralized and trustless financial ecosystem.

One of the unique aspects of dForce is its focus on integrating with other DeFi protocols. This means that users can access a wide range of financial services and products in one place, without having to navigate different platforms and protocols. dForce also has a decentralize governance system, where users can vote on proposals and changes to the protocol, ensuring that the platform is controlled by its users and not a central authority.

How Does dForce Work

dForce is a decentralized finance (DeFi) protocol that aims to provide users with a wide range of financial services and products on the blockchain. The platform offers a variety of features, including lending, borrowing, trading, and staking.

Here’s how dForce works:

1. Lending and borrowing
   dForce allows users to lend and borrow cryptocurrencies. Users can deposit their assets into a pool and earn interest on their holdings. The interest rate determines by the supply and demand of the asset, with higher demand leading to higher interest rates. Borrowers can take out loans from the pool by depositing collateral in the form of cryptocurrencies.
2. Trading
   dForce enables users to trade cryptocurrencies on its decentralized exchange (DEX). The DEX is built on the Ethereum blockchain and allows users to trade directly with each other without the need for an intermediary.
3. Staking
   Users can also stake their cryptocurrencies on dForce to earn rewards. Staking involves locking up tokens in a smart contract for a set period, which helps secure the network and maintain its integrity.
4. Integration
   dForce design is interoperable with other DeFi protocols, allowing users to access a wide range of financial services and products in one place. The platform is open standards, making it easy for developers to build on top of the protocol.
5. Governance
   dForce has a decentralized governance system, where users can vote on proposals and changes to the protocol. This ensures that the platform controls by its users and not a central authority.

Overall, dForce aims to provide a comprehensive DeFi ecosystem. This is where users can access a range of financial services and products on the blockchain.

Product of dForce Network

dForce offers several products and services to its users in the decentralized finance (DeFi) space. Here are some of the main products of dForce:

1. Lending
   dForce offers lending services, allowing users to deposit their cryptocurrency assets in pools and earn interest on their holdings. The dForce’s lending protocol is Lendf.Me, which supports several different cryptocurrencies such as Ethereum, USDT, and others.
2. Trading
   dForce has a decentralized exchange (DEX) that allows users to trade cryptocurrencies with each other directly without the need for an intermediary. The DEX is dForce Swap and it supports various tokens and trading pairs.
3. Yield farming
   It is a process in which users lock up their cryptocurrency assets in a smart contract to earn rewards. Additionally, dForce offers yield farming services. It also allows users to stake their tokens and earn rewards in the form of additional tokens or fees from the protocol.
4. Staking
   dForce allows users to stake their tokens, which involves locking them up in a smart contract to help secure the network and maintain its integrity. Staking also allows users to earn rewards for their contributions to the network.
5. Governance
   dForce has a decentralized governance system where users can vote on proposals and changes to the protocol. This ensures that the platform controls by its users and not a central authority.

Therefore, dForce offers a comprehensive suite of DeFi products and services that allow users to manage their digital assets, earn interest, trade, and participate in the governance of the protocol.

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In October, dForce recorded a TVL of $197.7m, with 60.2% parked on Arbitrum, 20.6% on Binance Smart Chain, 7.0% on Ethereum, 5.9% on Optimism, 2.2% on Polygon, 2.0% on Avalanche, and 2.0% on Kava.

USX

As of 31st October 2022, the total circulating supply of USX is $159m, with 70.4% of liquidity currently parked on Arbitrum, 10.7% on BSC, 6.4% on Optimism, 6.2% on Ethereum, 2.5% on Kava, 2.5% on Avalanche, and 1.3% on Polygon.

Lending

In October, dForce Lending recorded a total supply of $95.3m, with 54.1% on Binance Smart Chain, Arbitrum 15.7%, Ethereum 13.2%, Polygon 9.8%, and Optimism 7%.

Revenue

dForce recorded an Annualized Platform Revenue of $949K in October, with 35.2% generated on Binance Smart Chain, 26.7% on Polygon, 17.3% on Optimism, 14.5% on Arbitrum, and 6.4% on Ethereum.

Liquidity Mining

dForce has ongoing liquidity mining initiatives on Ethereum, Arbitrum, Polygon, Optimism, and Binance Smart Chain. Please visit dForce Forum to view the gauge (update on a weekly basis) and click here to see related tutorials.

Product Development

• The core developer team completed debugging of dForce’s multi-chain liquidity aggregation transaction interface.
• dForce Lending Deposits and Borrows were disabled for GOLDx, FEI, xETH Assets.

DForce Community October Update – There are also some exciting developments in progress. Namely:

• Multi-chain liquidity aggregation transaction to support cross-chain transaction and liquidity aggregation of assets.
• Utilizing POO to provide EUX liquidity on the protocol level.
• dAPP multi-module optimization in a unified style with interactive optimization.

DeFi Integrations

Tinnetwork now supports dForce on BSC, Ethereum, Polygon, Arbitrum Optimism & Kava.

Marketing

dForce attended Devcon in Bogota, Colombia, between Oct 11–14. Mindao Yang, dForce’s core contributor, attended to meet and discuss the next generation of DeFi with developers and researchers.

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USX’s full collateralization will remain intact. It is designed to help USX maintain its dollar peg in a more efficient manner.

All stablecoins collected from LSR will be deposited into lending protocols (with dForce Lending as a start) to earn yield, unlocking a new revenue stream for dForce Treasury. This feature aims to further enhance the flexibility and capital efficiency of USX, i.e., via POO and PDLP which power USX’s liquidity in the secondary market.

LSR will support different assets on different blockchains

• On BSC, BUSD, USDC, and DAI will be supported.
• On Optimism and Polygon, USDC and DAI will be supported.

How to use LSR on dForce?

1. Please navigate to the dForce app and make sure you are connected to BSC, Polygon, or Optimism (more networks will be supported soon), and click on ‘Mint’ from the menu to continue.
2. Choose the stable asset you’d like to mint USX against (vice versa) from the drag-down list.
3. Enter the number of stable assets and you will be able to receive USX at a 1:1 rate. For first-time users, please click on ‘Approve’ and confirm the transaction from your wallet.
4. Click on ‘Swap’ and confirm the transaction from your wallet.
5. Congratulations! Now you should be able to see newly minted USX in your wallet.
6.  As a reminder, minting or redeeming USX will be subject to pool liquidity which can be viewed on the same page (same as Curve pool). In the event of a liquidity shortage, you can still buy or sell USX on supported DEXes.

 Here are two links readers to look at to further read up on LSR

• DIP027 — Proposal to Launch the LSR (Liquid Stability Reserve) Module for USX
• Proposal to Introduce Liquid Stability Reserve to USX

dForce core developer team is constantly trying to improve its protocols.

ABOUT dForce

dForce is a complete set of decentralized finance protocols covering assets, lending, and trading, serving as DeFi infrastructure in Web3.

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Loopfi Pre-Launch, a general liquidity solution for escrowed DeFi governance tokens (i.e., veDF, a tokenized version of dForce governance token participating in lock-up staking) holders. It Allows liquidity providers to earn various protocol fees and claim boosted rewards, without the need to lock up their DeFi governance tokens. In short, liquidity providers can receive boosted staking rewards and fee accruals, and LPF liquidity mining rewards.

As an open protocol endeavoring to help DeFi users access liquidity with boosted rewards, we welcome any DeFi projects with staking models to partner with Loopfi. A number of protocols have expressed their strong interests in participation, with the first confirmed anchor partner — dForce Network, who has just launched their $DF staking module.

For Anchor Partners

• Loopfi is featuring a multi-chain setup. With many protocols building their veToken model on Ethereum, Loopfi is able to power them with multichain infrastructure support, that being said, users can access their veToken staking from Arbitrum or BSC with much lower gas fee experiences.
• Participants who stake through Loopfi will be incentivized with LPF tokens. Allocation of LPF token to each anchor partner will be capped at 10% of the total LPF supply.
• Anchor partners need to provide bootstrapping liquidity, integration, and co-marketing support. In our partnership with dForce, they will provide USX liquidity to bootstrap the LPF/USX pool.

For DF holders

Stake through Loopfi is currently available on Arbitrum only.

Loopfi enables DF holders to stake from Arbitrum and receive max boost on DF staking rewards as it pools DF tokens together and periodically extends to maximum lock-up period (4 years).

There will be a 15% fee charge on DF staking rewards plus a small fee which will be used to incentivize 3rd parties to trigger the rewards claim (a compensation for gas costs pertaining to the distribution of rewards to stakers). More details will be provided in our documentation.

DF stakers will also receive liquidity mining rewards in the form of LPF token.

Loopfi for DF Stakers

Loopfi users will receive LPF rewards on top of DF staking rewards, making Loopfi an ideal destination for those who wish to stake DF whilst remaining liquid:

• Receive max boost on DF staking rewards and dForce platform fees in the form of DF tokens.
• Receive pDF token (liquid version of veDF) that allows you to exit your staked veDF position at any time.
• Earn more governance voting weights through pDF.

pDF (Tokenized veDF)

pPF the tokenized version of veDF (time-locked DF participating in dForce Lock-up Staking).

• 1:1 minted for each DF locked through Loopfi.
• Stake pDF to receive DF staking rewards and LPF rewards.

LPF (Loopfi Token)

• Stake pDF or provide liquidity to receive LPF.
• In the future, LPF will be use for voting, such as gauge weights.
• Currently, LPF distributed mainly via two approaches:

Stake pDF to receive LPF

○ 136,986 LPF/day in the 1st year

Liquidity Mining:

○ LPF/USX — 24,657 LPF/day

○ pDF/DF — 16,438/LPF/day

About Loopfi

Loopfi a general liquidity solution for escrowed DeFi governance tokens (i.e., veDF, a tokenized version of dForce governance token participating in lock-up staking) holders.

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