elcome to the January 2024 dForce ecosystem report!
2024 started with a blast: dForce introduced a 1M ARB liquidity mining campaign on Arbitrum as well as its Grants Program and much more! Let’s get to it with the first ecosystem report of the new year!
💥 Highlights
- dForce launches its STIP-powered Liquidity Mining initiative on Arbitrum! dForce is among the projects backfunded by the Arbitrum Foundation with 1M ARB as part of their STIP program! dForce is distributing 100% of the ARB tokens granted through a number of liquidity mining campaigns directly to all Arbitrum users, starting from January 18th for 10 weeks until March 28th. Click here to learn al the details of the program.
- dForce unveils the dForce Grants Program (DGP)! Committed to nurturing creativity and propelling the dForce ecosystem to new heights, the DGP is a community-driven venture that seeks to fund imaginative projects and fortify the bonds within our dynamic community. Keep reading to discover our latest initiative in details! Click here to learn more about the program.
- dForce is hosting and incentivizing the Aspida LSD Vault as part of the ongoing Arbitrum STIP campaign! dForce has integrated the LSD Vault of Aspida to its dApp, with $ARB rewards and points to be distributed starting from February 1st, 2024! Click here to learn more about the program.
🗳 Governance
The proposal to introduce a community-driven initiative aimed at funding creative ideas put forth by the dForce community and fostering the growth of a diverse and dynamic dForce community has passed with 100% of votes in favor!
The proposal to implement a 0.1% fee to facilitate swaps from supported stablecoins (i.e., USDC, USDT, DAI) to USX through the Liquid Stability Reserve (LSR) module passed with 99.99% of the votes in favor! As of today, the change has not been implemented.
📊 Performance
In January, USX had a ciculating supply of over $150.74 M distributed as follows:
- 66.4% (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.
- 1.9% (21.93 m USX) are powering USX-related trades on DEXes.
- 3.6% (5.42 m USX) deposited on Lending.
- 21.7% (33.06 m USX) are currently held by other market participants.
Liquidity by Networks
- 78.3% on Arbitrum
- 11.1% on BSC
- 7.6% on Optimism
- 1.8% on Ethereum
- 1.2% on Polygon
Source of Capital
- 99.4% (144.96 m USX) are protocol-controlled liquidity.
- 0.5% (137k USX) are minted through the vault.
Swap (LSR)
By February 1st 2024, dForce Swap recorded an accumulated volume of $264,4 M for swaps between $USX and $USDC, $USDT, $DAI across all supported blockchains.
January contributed $355 k swap volume, with Arbitrum accounting for $353 k, or 99% of the total.
⛏ Liquidity Mining
dForce is sharing the allocations of the ARB of its STIP-powered campaign on Arbitrum on a weejly basis on its social media channels!
📰 Marketing
dForce held an AMA on the official Arbitrum X account! Listen to the recording of the event here.
dForce organized a campaign on Galxe to celebrate the launch of the Liquidity Mining on Arbitrum with $200 USDT up for grabs!
dForce hosted Aspida for an AMA on its X account! Listen to it here.
