dForce

What is dForce?

dForce is a comprehensive DeFi ecosystem, encompassing assets, lending, and trading protocols, positioning itself as a fundamental infrastructure within the Web 3 decentralized financial network. Here's an overview of its key features:

Peer-to-Peer & Decentralized Financial Network

• Permission-less and open to everyone with internet access.
• Non-custodial, ensuring minimal trust costs and user ownership over crypto assets.
• Open-sourced, allowing integration and development on top of dForce protocols.
• Governed by the decentralized dForce (DF) token, empowering network governance.

dForce Lending

dForce Lending is a pool-based multisided lending protocol facilitating decentralized lending and borrowing of ERC20 and BEP20 assets. Users can earn interest on deposited assets or borrow supported assets against supplied collaterals. The protocol operates through smart contracts, eliminating intermediaries and associated costs.

dForce Trade

dForce Trade is a DEX aggregator leveraging Celer's Inter-Chain Messaging framework for cross-chain swaps. It utilizes algorithms to source the best rates and liquidity across multiple platforms and blockchains, minimizing gas fees and slippage. Users can swap tokens across different chains in a single transaction, optimizing user experience and reducing complexity.

dForce Bridge

dForce Bridge facilitates the bridging of assets, particularly the DF and USX tokens, across multiple blockchain ecosystems. It integrates with Celer's cBridge for cross-chain bridging, enabling seamless token exchange with lower fees and faster transaction speeds. The bridge operates in stages, with plans for customized bridges to further decentralize asset bridging.

dForce Token (DF)

dForce Token (DF) plays a pivotal role as the governance token within the dForce ecosystem, granting holders the authority to partake in critical protocol decisions. This governance mechanism ensures that the network's evolution aligns with the interests and preferences of its community members. However, the significance of DF extends beyond governance, as it also serves as a cornerstone for the hybrid staking model implemented within the ecosystem.

Hybrid Staking

The hybrid staking model comprises two distinct approaches: Free Staking and Lock-up Staking. Free Staking allows users to stake and unstake DF tokens at their discretion, providing them with a passive yield while retaining flexibility over their assets. On the other hand, Lock-up Staking introduces a commitment element, requiring participants to lock their DF tokens for specified periods ranging from one week to four years. In return for this commitment, participants receive higher yields and increased voting power proportional to the duration of their lock-up.

This dual staking mechanism not only encourages active engagement within the dForce community but also rewards long-term commitment and loyalty. By incentivizing users to lock up their DF tokens for extended periods, the ecosystem fosters stability and resilience while amplifying the influence of dedicated stakeholders in governance decisions. Ultimately, the hybrid staking model reflects dForce's commitment to decentralization, community empowerment, and the cultivation of a robust and participatory ecosystem.

Governance Process

The governance process involves a warm-up period for proposal discussion, followed by a 72-hour voting period. Proposals require at least 50% of DF votes in favor and a quorum of 2% of total outstanding votes to pass. This transparent and community-driven process ensures inclusive decision-making within the dForce ecosystem.

Investors and Similar Projects

dForced is backed by Multicoin Capital, CMB International, and Huobi Capital.

Some similar projects to dForce: Aave, Extra Finance, Kyber Network Crystal, OpenOcean, Premia, Radiant Capital, Sonne Finance...

Project Development

dForce is actively participating in the ongoing Arbitrum STIP campaign, leveraging the 1 million ARB incentives provided by the Arbitrum Foundation. As part of this initiative, dForce has launched a liquidity mining campaign on Arbitrum, which commenced on January 18th and will extend for 10 weeks until March 28th, 2024. The campaign aims to allocate ARB tokens received from the STIP program across various initiatives.

In line with this effort, dForce has announced the integration of the LSD Vault of Aspida Network into its dApp, commencing on Thursday, February 1st, 2024. This integration will offer rewards in the form of ARB tokens and Aspida Shield points. Users will have the opportunity to deposit ETH or LSTs as wstETH (Lido) into the dForce Vault to earn these incentives.

The campaign will be divided into two phases: the Free Staking Phase and the Lockup Phase. During the Free Staking Phase, participants can freely deposit and withdraw wstETH and ETH, with incentives distributed based on weekly updates. However, users who withdraw during this phase will not be eligible for rewards from the Bonus Pool. The Lockup Phase will follow, lasting for 10 days after the Free Staking Phase concludes, during which deposits or withdrawals are not permitted. Participants in this phase will receive final incentives, including rewards from the Bonus Pool. Details regarding rewards for this phase will be disclosed later.

dForce Price Analysis

As of November 24 2024 dForce has a marketcap of $37M. This is {{percentagefromath}} from its all time high of $1.50. In terms of its tokenomics, there's a total supply of 1B with 100% currently outstanding. Keep in mind dForce has a fully diluted value of $37M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.