In July, dForce successively launched GOLDx (a digital token backed by physical gold), and dForce Yield Markets (dToken).
On July 21, we proposed a USDx weighting adjustment in an attempt to improve yielding opportunity of USDx’s underlying constituent stablecoins, which ended with 97.4% in favor of the proposed new weighting (80% USDC, 10% PAX, 10% TUSD) and was activated on July 30 consequently.
On August 1, dForce kicked off the first round of liquidity mining of governance token (DF), which triggered strong interest from the community marked by spikes in network participation, trading volume, total value locked, and market cap of governance token.
Product Launch
GOLDx (Digital Gold Token)
GOLDx is the first gold protocol built upon Open Gold Protocol by dForce. It is a digital token backed by physical gold and is denominated in gram (1 GOLDx = 1 gram of gold). Zero fees associated with GOLDx’s on-chain transactions enables a full compatibility with all DeFi protocols and easy for DeFi integrations (noted that there will be fee levied by PAXG issuer, i.e Paxos for conversions to PAXG and vice versa).
dForce Trade immediately supports GOLDx swap against all major stablecoin pairs, including USDx, USDT, USDC, DAI, PAX, BUSD, HUSD, TUSD. Users can also use the protocol to mint or disaggregate GOLDx at any time.
Presently, GOLDx holders can participate in dForce’s yield farming by providing GOLDx/USDx liquidity on Uniswap, and staking Uniswap LP Share Token in $GOLDx Rush Pool through dForce staking portal to earn DF. The current APY is approximately 84.8%.
GOLDx is now listed on DigiFinex for spot trading and contract trading.
More about GOLDx through:
· GOLDx Security Audit Report (by Slow Mist)
· dForce to introduce digital gold token GOLDx
· How to Participate in dForce Governance Token (DF) Liquidity Mining
dToken Yield Market (dToken)
Yield Markets is the second core asset protocol across dForce Network following USDx. The Yield Markets aim to become the most accessible yield aggregator to farm the most attractive risk-adjusted yield across DeFi protocols. It now supports USDT, USDC, and DAI. Depositing supported tokens into the Yield Markets, users will receive dToken automatically on a pro rata basis (i.e. depositing USDT to receive dUSDT). Each dToken represents a pro rata claim of the underlying token plus yields generated.
As a general assets protocol, dToken pools yield across DeFi stacks, with the flexibility to serve customized pools with different assets. dToken supports a variety of stable asset tokens, each token owns an independent pool. We will allocate pooled capital based on on-chain and off-chain strategies.
Presently, users can participate dForce yield farming by depositing USDT, USDC, or DAI through dForce Yield Markets, then stake the dToken received through dForce Staking Portal into the Champagne Tower Pool to earn DF. The current APY of Champagne Tower Pool is approximately 46.3–52.5% (depends on different assets).
Read more about dToken through:
· Security Audit Report for dToken (by Trail of Bits)
· dForce Yield Markets (dToken)
· dForce to launch the Yield Markets
· How to Participate in dForce Governance Token (DF) Liquidity Mining
Product Development
Governance
With a target to improve yielding opportunity of USDx’ underlying constituent stablecoins, we launched dForce Governance Poll №3 on Jul 21, 2020, proposing to adjust the weighting of underlying reserve of USDx to 1 USDx = 80% USDC +10% PAX + 10% TUSD.
3.1% (Quorum: >2%) of dForce Token (DF) participated with 97.42% (threshold: >50%) in favor of the proposed new weighting, 1 USDx = 80% USDC +10% PAX + 10% TUSD. Therefore, the proposal is passed and will be activated on Jul 30 accordingly.
Read more through:
· dForce Governance Poll №3: USDx Reserve Adjustment Proposal
· [dForce Governance Poll Result: USDx Reserve Adjustment Proposal]
Marketing Campaigns
On Jul 1, in the first episode of ‘The Exchange’ presented by ChainNews and Winkrypto, Mindao Yang, Founder and CEO of dForce shared his views on the competitiveness and user retention of DeFi, as well as an introduction to dForce’s protocol matrix.
On Jul 2, Mindao was invited to share his views on user attraction and compatibility of DeFi products with Mars Finance.
On Jul 10, in the broadcast hosted by 499 Block, Mindao talked about DeFi mining and governance token distribution.
On Jul 16, Mindao discussed about the influence of DeFi liquidity mining on decentralized governance in a broadcast hosted by Jinse Finance.
On Jul 16, dForce was rewarded as one of the best DeFi projects in a competition hosted by Moon DEX, Conflux, and DappBirds.
On Jul 17, at a broadcast hosted by ZT Club, Jeff Chang, the community manager of dForce, shared his views on “Value of a Successful and Long-Lasting DeFi Project”.
On Jul 21, Jeff Chang, the community manager of dForce shared his views on dForce’s strategy of protocol matrix with the community of HBTC.
On Jul 29, Mindao Yang, Founder of dForce, was invited to HBTC Elsa Show to talk about how retail investors can participate in DeFi farm yielding, dForce protocol matrix and dForce yield aggregator dToken.
On Jul 30, invited by PANews, Mindao talked about DeFi and how retail investors can participate to mine DeFi governance tokens.
On Jul 31, Mindao was invited to ‘HOT TALK: DeFi’ hosted by HOTBIT exchange, and shared his views on the importance of asset protocols and how they contribute to the protocol matrix of dForce.
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/) TAB 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)
· Beex Exchange (https://www.beex.one/exchange/665/DF/USDT)
· BKEX (https://www.bkex.com/trade/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.
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