dForce included in the second phase of Pyth’s Retrospective Airdrop!
Introduction and Pyth Integration
With a legacy dating back to 2019, dForce stands as the protocol behind the decentralized stablecoin $USX, which in turn is powered by its DeFi ecosystem. Backed by prominent investors including Multicoin Capital, CMBI, and Huobi Capital, our ecosystem proudly hosts approximately $200 million in total assets. Notably, our trading platform, dForce Swap, has facilitated a remarkable $264 million in accumulated trading volume.
dForce’s transition to an ecosystem protocol, marked by the unanimous support for the dForce X Plan in October 2023, signifies a pivotal moment in its evolution. The X Plan introduces new value-accrual features to $DF and enables dForce to spin off derivatives, creating specialized protocols with unique tokens and tokenomics.
The first example of a spin off is Unitus, a Lending protocol launched in November 2023 that inherited the code of dForce Lending. Collaborating with Pyth, Unitus was able to deploy its money market on the Conflux eSpace chain upon launch.
With seamless integration spanning 50+ blockchains, Pyth’s versatility and permissionless architecture have positioned it as Unitus’s preferred source for price data on Conflux eSpace.
Pyth’s emphasis on high-frequency, low-latency, and transparent data updates significantly enhances user experience, particularly for applications like Unitus that rely on real-time data for swift decision-making, such as liquidation processes.
Employing a ‘Pull model,’ the Pyth Oracle ensures a user-friendly interface and enhances security for both users and liquidators. This model allows pushers to update prices strategically, maximizing profit potential at the opportune moment.
The Retrospective Airdrop
In recognition of integrating Pyth price feeds for the Lending protocol, now rebranded as Unitus, on Conflux eSpace, dForce is proudly among the over 160 protocols receiving rewards in the second phase of the retrospective airdrop of $PYTH tokens!
dForce has received 250,000 PYTH tokens, which will be allocated for future integration developments with the Pyth network, subject to governance vote.
Conclusion
The dForce team is flattered for the recogniztion demonstrated by Pyth through this second phase of the retrospective airdrop. If you want to test Pyth yourself, head to unitus.finance and use its its innovative Lending protocol on Conflux eSpace!
About Pyth
Pyth is an oracle delivering real-time market data for crypto, equities, FX, and commodities to 50+ blockchains. Pyth brags 95+ major market participants contributing data to the network, including Jane Street, CBOE, Binance, OKX, and Bybit.
Join the Pyth Community: Website | Price Feeds | Docs | Twitter | Discord
About dForce
dForce is the main protocol of its own multichain ecosystem, at the heart of which lies USX, a decentralized stablecoin. With a rich history dating back to 2019 and investors as Multicoin Capital, CMBI, Huobi Capital, the dForce ecosystem brags today around 200 million dollars of total assets.
Try the dForce App: https://app.dforce.network/
Join the dForce Community: Website | Forum | Twitter | Telegram | Medium
