Dear community, welcome to the February 2024 dForce ecosystem report!
As the STIP campaign continues to unfold on Arbitrum and dForce becomes the beneficiary of a fresh retroactive airdrop, alongside the introduction of a new product and several protocol proposals, February seemed to pass in the blink of an eye. If you happened to miss any of these developments, fret not, as our ecosystem update has you covered!
💥 Highlights
- dForce introduced the Peg Stability Vault (PSV), a campaign to incentivize $USX minting using USDT, USDC, and DAI on the Liquidity Stability Reserve (LSR) protocol! Learn more.
- dForce was included in the second phase of Pyth Network’s Retrospective Airdrop, receiving 250,000 PYTH tokens, which will be dedicated to future integration developments with their oracle, subject to governance vote. Learn more.
- The USX-USDC pool on Velodrome, Optimism, was migrated to USX-USDC native. If you haven’t done so already, migrate your liquidity to the upgraded pool now and start collecting the boosted rewards!
📊 Performance
In February, USX had a ciculating supply of over $151.38 M distributed as follows:
- 66.1% (100.1 m USX) used as Liquidity for the bridge.
- 6.1% (9.23 m USX) on Celer to power the cross-chain bridging of USX.
- 2% (2.96 m USX) are powering USX-related trades on DEXes.
- 3.4% (5.2 m USX) deposited on Lending.
- 22.4% (33.88 m USX) are currently held by other market participants.
Liquidity by Networks
- 78.4% on Arbitrum
- 11.1% on BSC
- 7.6% on Optimism
- 1.8% on Ethereum
- 1.2% on Polygon
Swap (LSR)
By March 1st 2024, dForce Swap recorded an accumulated volume of $273,7 M for swaps between $USX and $USDC, $USDT, $DAI across all supported blockchains.
January contributed $9.2 M swap volume, with Arbitrum accounting for $9.2 M, or 99% of the total.
⛏ Liquidity Mining
dForce is sharing the allocations of the ARB of its STIP-powered campaign on Arbitrum on a weekly basis on its forum and social media channels!
