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dForce, an integrated and interoperable DeFi platform, is the utility token of the dForce network. According to announcements, DF will be used for transaction services, community governance, system balancing, incentives, and validator deposits.
What is dForce (DF)?
dForce (DF) aims to create an integrated, interoperable, and scalable open finance protocol network, advocating for the improvement of protocol-internal liquidity and network effects while operating as a fully open platform for interacting and integrating with other protocols.
Users of the platform can maximize their liquidity potential in a matrix divided into three important dimensions. The platform’s protocols are fundamentally divided into three categories: Asset protocols, lending protocols, and liquidity protocols.
Under asset protocols, there are three types of assets:
- USDx: Described as a synthetic stablecoin with systematic yield. USDx is a stablecoin unit pegged to a basket of stablecoins with predetermined weights and adjustable through on-chain governance. Users can only earn interest income from USDx assets by depositing USDx into the USR contract.
- GOLDx: A digital asset backed by physical gold, GOLDx is denominated in grams instead of ounces. GOLDx is notable for its zero fees associated with on-chain transactions, full compatibility with all DeFi protocols, and ease of integration.
- Yield markets: Users receive dToken, an ERC20 token supported in proportion to their pool share, which can be converted into cash at any time, upon depositing their supported ERC20 token. dToken can be transferred to other users, the platform, or a smart contract.
In the lending protocol, two primary lending services are mentioned:
- Hybrid Lending Facility: Allows for the creation of a variety of separate lending pools catering to users with different needs and risk tolerance.
- dForce Lending Protocol: Characterized as a permissionless lending protocol version with more embedded risk control parameters and various capital supply sources.
The platform’s liquidity protocol introduces dForce Trade to users. dForce Trade is defined as “Supporting large volume trades at the best prices through a fragmented liquidity pool across multiple DEXs.”
Analysis of DF Coin
DF coin, especially after being listed on Binance, has seen a notable price increase. However, investors seem cautious with DF coin as it is still a very new coin, hence there are not many predictions for significant drops or rises.
For a more informed view of DF coin’s future, looking at current figures can be helpful. According to CoinMarketCap, at the time of writing, dForce Coin is trading at $0.1364, and in the DF/BTC pair, it is trading at 0.000003633 BTC. Additionally, there are currently 114,772,957 dForce coins in circulation, with a total of 999,951,290 DF Coins expected.
Furthermore, it is worth noting that dForce (DF) hit its lowest point on November 3, 2020, at $0.0702 and reached a record high of $1.18 on September 1, 2020.
How to Buy dForce Coin?
Following its listing on Binance on December 11, 2020, the platform began offering services with DF/ETH and DF/BUSD trading pairs.
dForce can be securely and quickly purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
