[Temperature check] Deploy dForce on Polygon zkEVM

Summary:

This Temperature Check is seeking our community’s opinion for the opportunity to deploy dForce protocols on Polygon zkEVM.

Background:

Polygon zkEVM is aiming to become a decentralized Ethereum Layer 2 scalability solution that uses cryptographic zero-knowledge proofs to offer validity and finality of off-chain transactions.

Polygon PoS (previously MATIC) is a side chain that is EVM-compatible. It runs parallel to the Ethereum mainnet and is secured by a Proof-of-Stake consensus mechanism. Gas fees on the network are paid in MATIC, the native token of the Polygon ecosystem.

Not only does Polygon PoS support a full fledge of blockchain solutions, but they have also partnered with some of the biggest companies in the world, such as Starbucks, Disney, Reddit, and Meta to offer decentralized products such as NFTs, the Metaverse and an accelerator program to further web3 innovation.

Polygon PoS ranks #5 on DeFiLlama with a TVL of $987m, 426 protocols, and 323k active users at the date of writing.

Polygon zkEVM is an Ethereum Layer 2 solution, using zero-knowledge proofs to inherit Ethereum’s core security. ZK-Rollups validate and finalize transaction computations off-chain, before the data is confirmed on Ethereum. This setup enables faster transaction processing and greater scalability for Ethereum. Gas fees are paid in ETH, not MATIC.

Motivation:

There are many benefits for dForce’s deployment on Polygon zkEVM:

  • Developer friendly environment

Polygon zkEVM uses zero-knowledge architecture to speed up processing times while benefitting from the security of Ethereum’s consensus. Because it is EVM-equivalent, our developers can build on it and use it like Ethereum itself, without changing languages or tooling.

  • Solidify dForce’s place as a leading DeFi platform and a thought leader

Polygon zkEVM mainnet beta went live from March 2023, with 21 protocols including Sushiswap, Quickswap, etc already deployed on their mainnet. As an early mover, we expect dForce will further improve brand recognition, increase consumer loyalty, and capture a large market share through all sorts of collaborations and integrations.

  • Greater flexibility and efficiency

With a multi-chain strategy, it allows users to access dForce and transfer assets across different blockchain networks seamlessly. dForce can leverage the unique features and capabilities of different blockchain networks to enable a wider range of functionalities and benefits for users.

  • Cross promotion to build a stronger community and improved brand recognition.

dForce can partner with Polygon Labs and other eco-partners to expand our reach through different marketing campaigns.

Specification

This temperature check presents an opportunity to deploy a complete set of dForce protocols on Polygon zkEVM, with USX and Lending as a start:

  • USX will be enabled on LSR (for minting & redeeming), lending, and trading.
  • dForce Lending will start with a limited deployment of initial assets: USX, USDC, ETH, etc, subject to governance voting result.
  • dForce Trade will include aggregator and AMM.
  • dForce Bridge will support the bridging of USX and DF across all supported L1/L2s, powered by Celer’s IM framework.