Dear community, welcome to the June 2024 dForce ecosystem report!
June has been an incredible month for the dForce ecosystem, highlighted by the launch of sUSX, the savings version of the decentralized stablecoin USX, as well as the beginning of the “”Arbitrum Summer Vibes” campaign!
If you missed any of our developments, keep reading for a quick overview!
💥 Highlights
- sUSX is LIVE! USX holders can already mint it and obtain 15% APY, with strategies to maximize the yield coming soon with more sUSX usecases in DeFi! sUSX is the only stablecoin offering the possibility for users to mint it and start earning native yield on ANY supported chain. The yield is synchronized across all chains, giving users complete flexibility to choose where to adopt sUSX! Click here to learn more.
- dForce has been awarded 500k $ARB by Arbitrum for the STIP Bridge initiative and launches “Arbitrum Summer Vibes” campaign! This campaign aims to boost the adoption of USX, sUSX, Unitus Lending and BLP, and LSD vaults on the Arbitrum network. With incentives already flowing since June 27th, the initiative will last until September 19th, 2024. Click here to learn more about the campaign.
- Introducing the saETH Vault: A New Era for Liquid Staking and USX! With the Vault, users can deposit their assets, in this case saETH, to mint USX against them at a fixed interest rate. The saETH Vault is accessible in the Vault section at app.usx.finance on Arbitrum. Click here to learn more.
🗳 Governance
The proposal to gain support from dForce community for adding saETH as collateral for minting USX on Arbitrum has passed with 100% votes in support.
The proposal to introduce Savings USX (sUSX) as a tokenized version of yield-bearing USX, which redistributes revenue from dForce DAO back to USX holders, has passed with 100% votes in favor.
📊 Performance
In June, USX had a circulating supply of over $134.15 M distributed as follows:
- 74.6% (100.1 m USX) used as Liquidity for the bridge.
- 6.9% (9.23 m USX) on Celer to power the cross-chain bridging of USX.
- 1.8% (2.42 m USX) are powering USX-related trades on DEXes.
- 4% (5.31 m USX) deposited on Lending.
- 12.7% (17.09 m USX) are currently held by other market participants.
Liquidity by Networks
- 88.2% on Arbitrum
- 0.6% on BSC
- 8.4% on Optimism
- 1.3% on Ethereum
- 1.4% on Polygon
USX and sUSX
With the launch of savings $USX ($sUSX), we’ve introduced a new dashboard to track its yield, performance, and adoption. Check it out here: https://alpha.usx.finance/#/Dashboard. Here are some of the highlights of the first days since the launch of sUSX:
Swap (LSR)
By July 1st 2024, dForce Swap recorded an accumulated volume of $274,4 M for swaps between $USX and $USDC, $USDT, $DAI across all supported blockchains.
And that was all for this month! Join our community to catch up on the latest of dForce and participate in related discussions!
