dForce is Coming to Avalanche!
Following Ethereum, Arbitrum, Optimism, BSC and Polygon, we’re excited to announce dForce will be deploying its DeFi protocols including lending and stablecoin USX on Avalanche, continuing dForce’s expansion efforts to become multi-chain interoperable DeFi Infrastructure in Web 3.
By introducing dForce Lending and USX to Avalanche, the Avalanche ecosystem will have more choices for end-users and more integration opportunities to facilitate organic growth of the AVAX ecosystem. Below are specifics of the integration.
USX is the first stablecoin which is easily to be integrated with any lending protocol and vaults models, where it could support both pool-based multi-collateral as well as isolated-collateral vaults, making it extremely flexible and efficient to support collaterals of different risk profiles, i.e. major crypto as well as yield-bearing crypto and LP tokens.
USX is also the first decentralized stablecoin that features over-collateralization, highly capital efficient via PDLP (Protocol-Direct-Liquidity-Provision) and cross-chain operation (integrated with c-Bridge). With circulating supply of close to 200m and growing, it is currently deployed and bridged across Ethereum, Arbitrum, Optimism and BSC, making it the few decentralized stablecoins with cross-chain capabilities.
On top of other stablecoins deployed on Avalanche such as USDC, USDT, DAI, and FRAX, onboarding USX to Avalanche will add another decentralized stablecoin to the ecosystem. With current USX market cap near $200mil, this additional liquidity will help expand Avalanche’s DeFi ecosystem.
dForce Lending is currently the largest Lending protocol on Arbitrum in terms of TVL and it’s the very few full-suite lending protocol deployed across Ethereum, Arbitrum, BSC and Optimism.
It is a pool-based multi-sided lending protocol which supports multiple collaterals with a market-driven dynamic interest rate model.
dForce Lending is a battle-tested and comprehensive money-market and lending protocol, it has been deployed for more than a year and has undergone extensive code reviews and security audits by Trail of Bits, ConsenSys Diligence, CertiK, Certora (formal verification), with a bug bounty launched through Immunefi. dForce Lending has successfully withstood a number of market turmoil and drawdowns and battle-tested.
With a target to bring the best of all worlds and connect users of multiple chains with cross-chain liquidity, dForce Bridge will be launched to facilitate the bridging of $DF and $USX across Ethereum, Arbitrum, Optimism, BSC, and Polygon with lower fees and faster transaction speeds.
As a start, dForce partnered with Celer’s cBridge to power cross-chain bridging of $DF and $USX. The liquidity flow will be mainly powered by protocol-controlled liquidity through PDLP, which is highly efficient with zero slippage and low fees. Moving forward, we will look for more collaboration and introduce dForce customized bridges to facilitate cross-chain bridging of more assets in a decentralized manner, serving as general public infrastructure to power the growth of DeFi.
We, at dForce believe cross-chain interoperability is critical to tackle liquidation fragmentation across different blockchains and we look forward to collaborating with all developers and protocols in the Polygon ecosystem! You can reach us via email (firstname.lastname@example.org) at any time.
dForce advocates for building a complete set of DeFi protocols covering assets, lending, trading, serving as DeFi infrastructure in Web 3. dForce is currently deployed on Ethereum, Arbitrum, Optimism, and BSC with a TVL of $306m (Data Source: Defi Llama).
Our core protocols include both pool-based multi-collateral and vault-based single-collateral multi-currency stablecoins (USX and EUX). Implemented with PDLP (Protocol-Direct-Liquidity-Provision) and POO (Protocol-Owned-Operator), we are able to combat liquidity shortage effectively for protocols integrated with USX and EUX and achieve maximized efficiency with protocol controlled treasury.
We also have a pool-based multi-sided lending protocol which supports multiple collaterals with a market-driven dynamic interest rate model.
dForce’s smart contracts are audited by Trail of Bits, ConsenSys Diligence, Certik and Certora, with a bug bounty launched through Immunefi.
Learn more about dForce:
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.