dForce Kicks off Liquidity Mining — starting from 22:00 UTC+8, August 3, 2020

**dForce liquidity mining will start from 22:00 UTC+8, August 3, 2020**

IMPORTANT: Please do NOT directly transfer any digital assets to the contracts, which will cause a permanent loss and we cannot help reverse transactions or retrieve assets from the contract. Please access from dForce Staking Portal for staking and mining of DF.

The frenzy liquidity mining in DeFi has triggered strong interest from users beyond DeFi. We’ve been thinking about liquidity mining for bootstrapping for a while, but without a full suite of protocols, incentivized liquidity mining won’t carry much benefits and merits as advertised.

With the recent launch of GOLDx and dToken, along with USDx, we are well prepared to kick start some experiments of liquidity mining.

What we are waiting is the Champagne Tower moment, where our dForce Legos are interconnected, composable enough to allow incentivized liquidity to tickling down tiers of our Legos.

The following protocols are major components of our Champagne Tower for liquidity:

· USDx: the synthetic stablecoin protocol (introduction) that will soon be connected to our dToken pool. Audited by PeckShields and SlowMist.
· GOLDx: a synthetic gold token (introduction) that we will incentivize to pair against USDx. Audited by SlowMist.
· dToken (dUSDT, dUSDC, dDAI): general stable-asset yield protocol (introduction), which harvest the best risk-adjusted yields in the market (currently, USDT is yielding 14% APR). Audited by Trail of Bits.

Our liquidity mining initiative aims to maximize liquidity incentive so that the Champagne can be tickling down the tiers, so these are trial and pilot initiatives and are not meant to be in-protocol liquidity mining initiative run into its perpetuity.

They are structured as different staged pivot initiatives to bootstrap different combination of protocols, the DeFi mining is still very experimental and we don’t know the most effective leverage just yet.

The source of DF token for liquidity mining, comes from our Gravity Pool (25% of total DF outstanding). Different pools will have different terms and conditions, the tenor is typically 1~4 weeks. Protocols that eligible for the first stage liquidity mining incentives, including USDx, dToken, GOLDx.

Here are the proposed stage 1 (starting from 22:00 UTC+8, 3 August, 2020) liquidity mining incentives:

The mining initiative will involve mintage of eligible assets, provide liquidity on Uniswap and stake through dForce Staking Portal, which is built on the codes of the most widely used Synthetix staking module.

There will be three pools for mining, namely:

· Champagne Tower Pool (Pool 1) for dTokens
· $GOLDx Rush Pool (Pool 2) for GOLDx/USDx
· Singularity Pool (Pool 3) for DF/USDx

Pool 1: Champagne Tower Pool (for dToken)

Assets required: dUSDT/dUSDC/dDAI

Steps to mine:

Deposit USDT/USDC/DAI to dForce Yield Markets to mint dUSDT/dUSDC/dDAI
Stake dUSDT/dUSDC/dDAI through dForce Staking Portal to mine DF
DF rewards distribution per week:

· dUSDT: 64,500 DF
· dUSDC: 64,500 DF
· dDAI: 64,500 DF

4. Lock-up period: No lock-up requirement. dTokens supplied are redeemable at any time, with DF rewards claimable per block.

5. Tenor: Aug 3, 2020~Aug 24, 2020

Pool 2: $GOLDx Rush Pool (for providing GOLDx/USDx liquidity on Uniswap)

Assets required: GOLDx + USDx

Steps to mine:

Provide GOLDx/USDx liquidity on Uniswap V2
Stake GOLDx Uniswap LP Share Token in $GOLDx Rush pool through dForce Staking Portal to earn DF
DF rewards distribution: 76,000 DF per week
Lock-up period: No lock-up requirement. Uniswap LP Share Token supplied are redeemable at any time, with DF rewards claimable per block.
Tenor: Aug 3, 2020~Aug 24, 2020

P.S: Please be mindful of market risk of GOLDx (it is pegged to gold price) and all risks associated with providing liquidity on Uniswap.

Pool 3: Singularity Pool (for providing DF/USDx liquidity on Uniswap)

Assets required: DF + USDx

Steps to mine:

Provide DF/USDx liquidity on Uniswap V2.
Stake Uniswap LP Share Token in the Singularity Pool through dForce Staking Portal to earn DF.
DF rewards distribution: 255,000 DF for the first week and is adjustable on weekly basis.
Lock-up period: The Uniswap LP Share will be locked up for one week, you can only unstake your Uniswap LP share token when lock-up expires, however, you can claim DF rewards per block.
Tenor: Aug 3, 2020~Aug 24, 2020.

P.S: Please be mindful of market risk of DF and all risks associated with providing liquidity on Uniswap.

Please click here to view the mining guides.

History Changes of Reward Distribution

dForce Singularity Pool (Pool 3) Rewards Adjustment

dForce Singularity Pool (Pool 3) Rewards Adjustment — Week 3

dForce (DF) Liquidity Mining — Week 4

dForce (DF) Liquidity Mining — Week 5

dForce (DF) Liquidity Mining — Week 6

dForce (DF) Liquidity Mining — Week 7

dForce (DF) Liquidity Mining — Week 8

dForce (DF) Liquidity Mining (Singularity Pool) — Week 9

dForce (DF) Liquidity Mining (Singularity Pool) — Week 10