dForce Ecosystem Report — June 2020

In June, we have received plenty of attention and support from our community.

dForce Swap trading volume reached an all-time one-day high (about 1.86 million US dollars) on June 20. It is currently ranked 14th globally by the one-day trading volume of decentralized exchanges on the Ethereum.

dForce published a whitepaper that had publicly disclosed our product matrix, token economy, token distribution and other details. Click here to view the whitepaper.

Product Developments

Yield Market

Yield Market is the newly introduced interest-generating token pool launched by dForce. Each dToken represents a pro rata claim of a specific ERC20 token plus yields earned. Users will receive dToken according to their shares of the whole when they deposit a specific ERC20 token into the smart contract (i.e. deposit USDT to receive pro rata dUSDT). Users can use the protocol to mint or destroy dToken and get back their principal plus interest earned at any time. dToken can also be transferred to other users, platform or smart contract.
The interest income of the Yield Market mainly comes from multiple mainstreamed DeFi protocols. We will perform in-depth assessments prior to fund allocation including the level of security robustness, interest rate, asset liquidity, etc. It creates a pool of capital to farm attractive risk-adjusted yield on capital by supplying them to a variety of DeFi protocols including lending protocols, dedicated pools (i.e. hybrid pools) for high-yield assets, etc.

· Code audit in process by Trail of Bits, a leading global blockchain security company, which is expected to be completed in early July.

· Version 1.0 is expected to be released in mid-July

· Version 2.0 will add support to dForce hybrid lending platform with expected launch by end of July

dForce Hybrid Lending

dForce will partner with CeFi to launch lending facilities catering to the needs of different users. The hybrid model allows dForce’s lending protocols to address the widest possibility while maintaining great flexibility. The hybrid lending protocol itself still operates in a fully verifiable, on-chain, automatical and open manner.

· Product development in progress

· Expected launch by end of July

USR (USDx Saving Rate)

USR(USDx Saving Rate) is the systematic interest saving rate of USDx. USDx will become the first fiat-back stablecoin implementing saving yields. Users can earn interest income on their USDx holdings by simply depositing USDx into the USR contract (aka DSR to DAI). Users shall expect additional interest contributed by DeFi protocols integrated with USR.
· Security audit completed by PeckShield (Please view full report here)

· Expected launch in July

dForce Decentralized Lending

dForce Lending is a fully permissionless and open DeFi lending protocol with more built-in risk parameters (i.e. debt ceiling for each of its collaterals) and diversified sources of capital supply (dToken pool and other sources).

· Architecture review and assessment in progress

· Expected launch in Q4

dForce Trading (Version 2.0)

With dForce Swap (Trading v1.0) focusing on exchanges between mainstreamed stablecoins that follow the ERC-20 standard. The v2.0 upgrade will add exchange support to more types of cryptoassets.

· Architecture review and assessment in progress

· Version 2.0 is expected to be released in the fourth quarter

dForce Governance System

dForce token (DF) is platform utility token that enable protocol governance, fee payment, staking, incentive and insurance pool. Users can participate in governance proposal by on-chain voting and claim for airdrop rewards through the dForce governance system.

· The platform airdrop system is now alive.

· Version 1.0 of the governance voting system will be launched in Q3

dForce Forum

dForce Forum is a platform where the dForce community and open finance enthusiasts can voice their opinions, suggestions on the development of dForce, and share the latest DeFi trends and open finance related topics.

· Expected launch in early July


On June 8, dForce was invited to share our DeFi matrix model and core protocols in developments with the DappPocket community.

On June 12, at a DeFi panel hosted by ZT Global, Jeff Zhang, the community manager of dForce, shared his view on “DeFi Composability and Network Effects”.

On June 18th, Mindao Yang, founder of dForce, has been invited to share his views on “DeFi yield farming and value capture mechanism” in an AMA session hosted by Lili and Daidai, two famous Chinese KOLs in the DeFi space.

On June 24, Mindao was invited by 8btc, the oldest and most influential independent platform to bitcoin, blockchain and cryptocurrency news in China, to participate in a live podcast event together with Robert Leshner (founder & CEO of Compound), Yin (MD of DRF) and Helen (8btc) and share his views on ‘DeFi yield farming’.
On June 24th, during a panel hosted by Huobi Group, Mindao talked about future potentials of open finance, DeFi business models and platform token economy.

DF Platform Token

Currently, there are multiple exchanges supporting DF trading, including:

· MXC Exchange (https://www.mxc.com/trade/easy#DF_USDT)

· HBTC Exchange (https://www.hbtc.com/exchange/DF/USDT)

· Hotbit (https://www.hotbit.io/exchange?symbol=DF_USDT)

· Biki (https://www.biki.cc/zh_CN/trade/DF_USDT)

· Whale Exchange (https://www.whaleex.com/trade/DF_USDT)

· Newdex (https://newdex.io/trade/df_usdt)

· ZT Exchange (http://www.zt.com/)

· TAC Exchange (https://www.tac.top/exchange/DF/USDT)
· DeerDex (https://www.deerdex.com/exchange/DF/USDT)

· Coinlead Exchange (https://www.coinlead.cc/exchange/DF/USDT)

· BeexExchange (https://www.beex.one/exchange/665/DF/USDT)

IMPORTANT REMINDER: The dForce Ecosystem Update aims to help our community catch up on the latest progress and product developments of dForce. Information provided does not constitute, and should not be construed as, investment advice or a recommendation to buy and sell cryptocurrency. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Welcome to join our community to participate in related discussions:

dForce official website: https://dforce.network/

Twitter: https://twitter.com/dForcenet

Telegram: https://t.me/dforcenet

Medium: https://medium.com/lendf-me