dForce is a blockchain project built on Ethereum. The project aims to create an open financial protocol that is scalable and interoperable in an integrated way. The project keeps the system open source and transparent so that it can work in integration with other DeFi protocols. The native cryptocurrency of the platform is the DF coin. The platform features integration, interoperability, and extensibility. The project is in a fully functional state for interoperability and integration with other protocols.
In this article, we will discuss:
What is dForce (DF)?
dForce is a multi-chain platform built for the development of integrated open financial platforms that fully cover various stablecoins, digital and synthetic assets, and also allow lending and lending. dForce is an open and permissioned development that is non-restrictive and allows everyone to access and participate.
It requires little or no trust cost and every user is entitled to own their cryptocurrency assets. Furthermore, developers can easily integrate dForce into their projects and build their products on top of the platform.
How does dForce (DF) work?
dForce is backed by a number of trusted and popular investors such as CMBI (China Merchants Bank International), Multicoin Capital and Huobi Capital (the investment arm of Huobi Group). They have also developed several by-products that help the platform progress and day-to-day.
dForce safe
dForce has a wide range of features or digital products designed to improve user experience and decentralized service provided and one of them is dForce vault. The dForce vault is designed to host various digital assets as collateral and therefore allows the USX stablecoin to be set against isolated collateral assets with a completely different risk model.
The vault is customizable and supports a wide range of standalone collateral including interest-earning tokens (i.e. iTokens, yvUSDC, etc), LP tokens, PoS liquid staking assets (wstETH, rETH, raTOM, etc), DeFi staking tokens (i.e. vDF, xSUSHI, etc) and other long tail tokens.
dForce loan
dForce lending, another decentralized feature, is a pool-dependent lending protocol in which interest rates are driven by market demand. In addition, any funds sent to dForce Lending will automatically be converted into iToken, which serves as a receipt for your deposit. dForce Lending is a money market protocol that allows instant accessibility and liquidity by combining the provisioning and lending of any ERC20 (Ethereum/Arbitrum/Optimism) or BEP20 (BSC) compliant assets worldwide.
dForce trading
dForce trading is a DEX aggregator that uses an algorithm to look for the best trade price and aggregate adequate liquidity across multiple platforms to offer optimized trading. It is also integrated with various DEXs like BSC and Ethereum. The dForce bridge is a cross-chain bridging tool that performs a low-cost transfer of USX and DF on all supported L2s and blockchains. It aims to bring out the best and connect users from multiple networks with the earning potential of dForce.
dForce use cases
- Contribute – Developers can create and integrate their new projects and protocols alongside dForce.
- Borrowing – Cryptocurrency enthusiasts can borrow assets, use them to trade and pay them back after some time.
- Borrow – Users can be providers of liquidity and grow their assets for those who need them urgently. They have a chance to earn interest on the deposited token.
- Voting – The token, DF, allows players to wager dForce Tokens (DF) and vote on things related to the platform.
DF token and USX stablecoin
dForce has a circulating supply of 414.536.981 DF coins and a maximum of 999.934.977 DF coins. The DF cryptocurrency is the official utility and governance token of dForce and gives voting power to holders, allowing them to make decisions about the progress of dForce. These decisions can range from the filing, entry and exit of new assets and collateral, transaction fees and other charges, accrual of fees and interest earned.
USX stablecoin
dForce also has its unique stablecoin in addition to the DF token, which serves as a governance token. The USX stablecoin helps with global access and provides interoperability and composition while being decentralized. The stablecoin was developed in late 2019 from the ground up and not from the structure of existing coins and the developers have ensured that the USX stablecoin has a price that can be easily defended. In addition, the guarantee operates at regular 1:1 redemption capacity and the use case is self-incentive.
The USX token is the flagship product of the dForce platform and is designed to address the current issues facing most stablecoins in today's decentralized world. The USX token stands out from other stablecoins because it is highly flexible and efficient enough and can be minted through a vault or by borrowing from other supported lending protocols.
The token copies a hybrid interest rate policy; in the vault module, it operates on a fixed interest policy, while in the secondary decentralized foreign exchange markets it operates on a range-bound market interest rate. The token is also fully decentralized, with no affiliation with a centralized body, as it is hosted in multiple decentralized ecosystems.
Where to buy the DF token?
DF cryptocurrency can be traded on the following exchanges:
- Binance
- BingX
- phemex
- Huobi Global
dForce Token Price Forecast (DF)
The price of dForce Token is predicted to reach a maximum level of $0.1808 throughout 2022. As early as 2023 according to our crypto price prediction index, dForce Token (DF) may reach a maximum level of $0.3479, with the price trading average of $0.2587.
In 2025 according to our crypto price prediction index, DF is expected to cross an average price level of $0.4194. The minimum expected value of the dForce Token price at the end of the current year should be $0.3873. Furthermore, DF can reach a maximum price level of $0.4274.
Conclusion
dForce advocates building an integrated, interoperable and scalable open financial protocol network that increases intranet liquidity and effects while remaining fully open to interoperability and integration. compatible with other protocols. dForce is one of the few DeFi projects that offers an incentive plan for an extended period of time. It serves as a strategic means of compensation to drive long-term retention and community engagement.
