dForce Lending is a global-pool based lending protocol with built-in multicurrency stablecoins (USX and EUX). Users can mint USX and EUX against a variety of yield-carrying collaterals (BTC, ETH, BNB, USDC, etc) which effectively reduce the cost of capital (minting fee) for users. dForce Lending was audited by 4 top audit firms including Trail of Bits, ConsenSys Diligence, CertiK and Certora, click here to view full reports.
dForce is currently deployed on Ethereum, Arbitrum and BSC with a TVL of over $300m. We are now the #2 lending protocol on BSC in terms of borrowing volume, and #1 lending protocol on Arbitrum in terms of TVL.
Proposal Summary, Motivation and Key Details
dForce is proposing a joint liquidity mining program with Kyber on BSC and Ethereum to further improve dForce-backed assets, including:
USX-BUSD
USX-DF
USX-EUX
USX is an overcollateralized stablecoin launched by dForce, featuring by yield-carrying collaterals which greatly improve capital efficiency for users. All supported assets on dForce Lending and Liqee Lending can be used as collateral to mint USX. It is widely adopted across dForce system and supported by our eco-partners including Liqee, MCDEX, DODO, etc, with a total supply of approximately 20m USX.
With this proposal, we plan to migrate most liquidity currently parked on other DEXes to KyberDMM, so that LPs can earn KNC rewards on top of trading fee and DF liquidity mining rewards.
dForce protocol is really good, I really love their protocol, it is clear and easy to use.
Support this proposal, KyberDMM is good, it has lower slippage when swaps.
Liquidity Mining on KyberDMM is good for both sides.
You mean KyberDMM right? Cos I have also done some research, and dForce is not a good investment. To quote, " Our Ai cryptocurrency analyst implies that there will be a negative trend in the future and the DF are not a good investment for making money. Since this virtual currency has a negative outlook we recommend looking for other projects instead to build a portfolio. Trading in bear markets is always harder so you might want to avoid this curremcy if you are not a veteran."
Source: dForce Price Prediction: down to $0.112? - DF to USD Forecast 2021, Long-Term & Short-Term Price Prognosis
Objectively speaking, I think the amount dForce is requesting is too much. 41,000 KNC per week for a 3 mths campaign would come up to about ~492,000 KNC. This is way more than any other project requested for a joint LM (not counting networks). I don’t get why they’re requesting such a high amount. I think they could consider downscaling a little? Reduce the amount requested/contributed and see how the performance goes. If the response is good we can always consider increasing the amount and extending the campaign.
The dForce team does seem stronger on Abitrum. Kyber isn’t deployed there yet but it’s been brought up before within the community and I think it’s something the team should consider. Maybe dForce could reduce the size of this campaign and allocate some rewards to some pools on Arbitrum if/when Kyber deploys there?
Just saw this new proposal. I think it’s good to have regular joint yield farming but kyber needs to improve the dmm with more features first before running a big campaign. dforce seems to be a known project so it’s still gd to partner! the asking amount is very high though. better to reduce, start small and kyber should think about a long term plan to add more knc gradually based on milestones
