dForce Token Coin Price & Market Data
dForce Token price today is $0.224012 with a 24-hour trading volume of $45,814,529. DF price is up 1.5% in the last 24 hours. It has a circulating supply of 300 Million DF coins and a total supply of 1 Billion. If you are looking to buy or sell dForce Token, Binance is currently the most active exchange.
What is dForce?
dForce is an open finance protocol that supports multiple asset protocols as well as its own yield-bearing stablecoin. dForce also provides lending and exchange services through its own decentralized yield markets, lending protocol, and DEX aggregator.
What is the dForce token?
The dForce token is the platform’s utility token which can be used for several different functions such as:
Governance - Token holders can vote on the direction of the protocol’s future by modifying key features or further expanding utility for the platform’s native token.
Payment - dForce token can be used to pay for services within the dForce ecosystem such as minting fees and interest payments.
Insurance - In the event of smart contract hacks or bad debts accumulated by the protocol, dForce tokens would be issued as compensation.
Incentives - dForce token also functions as a reward for liquidity mining on the dForce protocol.
How does dForce work?
dForce can be mainly divided into three categories - asset protocols, lending protocols and liquidity protocols.
Asset protocols include USDx, dTokens, and GOLDx. The first protocol is a stablecoin protocol where USDx is a synthetic stablecoin pegged to a basket of different stablecoins with different weightages. The allocation of stablecoins to maintain the peg can be altered through governance decisions. USDx can earn interest based on the USDx Savings Rate (USR) by depositing their USDx into the USR contract.
dTokens represent claims on ERC-20 token deposits onto dForce’s Yield Markets which can be transferred to other platforms. The dTokens are interest-bearing since users can receive yield from their token deposits. Finally, GOLDx is a digital token backed by physical gold.
Lending protocols consist of dForce’s own lending protocol and their hybrid lending facility.
The general lending protocol is similar to Aave and Compound’s, with support for multiple sources of capital. On the other hand, their hybrid lending facility caters more to specific users with various needs and risk appetites. Both of these lending protocols have not been launched yet.
Their liquidity protocol, dForce trade, sources and aggregates liquidity from other decentralized exchanges to offer the best prices for large trading positions.
Currently, only the asset protocols and dForce trade are live for user interaction.
• dForce Lending (https://app.dforce.network/), a decentralized lending protocol featured by global liquidity pool, over-collateralized loan and dynamic interest rates, with enhanced risk model and builtin over-collateralized multicurrency stable debt (expected launch in April 2021). Users can mint stablecoins of different currencies against their crypto collaterals to serves as an effective hedge against foreign exchange risk. More features including Public-Private Pool (PPP), Fix-Term/Fix-Rate Borrowing, Unsecured Loans, and Credit-Line Sharing will be progressively released in future upgrades in second quarter of this year.
• Yield Market (dToken) (https://markets.dforce.network/), the most accessible yield aggregator to farm the most attractive risk-adjusted yield across DeFi protocols. Instant withdrawal supported.
• USDx (https://usdx.dforce.network/), the first decentralized and fiat-back stablecoin implementing systematic interest. 1 USDx = 80% USDC +10% PAX + 10% TUSD. USDx holders can earn interest by simply depositing USDx into the USR contract and can withdraw at any time.
• GOLDx (https://goldx.dforce.network/), a gold token 100% backed by physical gold (through constituent gold token PAXG) and is denominated in gram. GOLDx is featured by 0 transaction fee and is 100% compatible with all DeFi protocols, making it easy for DeFi integrations. • dForce Trade (https://trade.dforce.network), aggregate proper liquidity and secure the best available price across multiple platforms to facilitate large-volume trades.