Welcome back to the Ecosystem Update of dForce Network, where we will recap the month of December and what’s next to come in the first quarter of 2021.
dForce now ranks #22 globally with $46.4M TVL (Total Value Locked) as of December 28, 2020, up 40% since the launch of dForce Yield Market (dToken) in early August 2020. dToken constitutes 90% of dForce’s TVL with $41.7M, followed by USDx with a TVL of $4.3M, accounting for 9.0% of the TVL.
Among dToken assets, dUSDT still dominates with $32.5M TVL, accounting for 76% of the total pie, followed by dUSDC with $4.9M TVL accounting for 12%. dDAI represents 5% of the pool with a TVL of $2.1M.
As a blockchain-agnostic DeFi platform, we deployed dToken on Binance Smart Chain in December 2020 to further grow the ecosystem. At the time of writing, dToken on BSC boasts an APY of 18.7%. Users can opt in easily from both the website or DApp in a number of wallets that support Binance Smart Chain (TokenPocket, MATH, BitKeep, and Ontology).
USDx is now traded on various platforms including dForce Trade, Uniswap, S.Finance, and Unisave. USDx holders can earn interest (APY 10.69 % at the time of writing) by simply depositing USDx into USR (aka USDx Saving Rate). Instant withdrawal is also supported.
GOLDx, a digital gold token featuring zero on-chain transaction fee denominated in grams, is currently traded on dForce Trade, Uniswap, SENBit and DigiFinex. The soon-to-be-launched dForce Lending will support GOLDx with yield.
Sushiswap was the most recent addition to dForce Trade. dForce Trade is now connected to 8 mostly used DEXes including Uniswap, Balancer, Curve, Sushiswap, Unisave, etc., and covers more than 95% of ERC20 token swaps by aggregating proper liquidity and best available price across multiple platforms to facilitate large-volume trades.
dForce is one of the very few DeFi protocols that offer incentivized plans over an extended time horizon, serving as a strategic incentivization to promote long-term retention and community engagement. Among all yield-farming DeFi projects (Uniswap, Curve, Yearn, etc), dForce Liquidity Mining ranks #9 globally in terms of TVL, according to CoinMarketCap, with Champagne Tower Pool accounting for the biggest slice of the pie.