We recently held an AMM session with Andy Boyan from Chainlink Labs! Read below to find a written summary of our conversation.
Q. What are some interesting things you’ve been seeing the past few weeks in DeFi?
We have been following “DeFi 2.0” and a lot of new products have been built. Olympus DAO is a unique product that has stood out as a leading protocol. Another project we have been following closely is Tokemak.
Q. What is Dfyn? What makes it special?
Dfyn is basically an AMM that began as a fork of Uniswap on Polygon. Now we are expanding to other chains. We will be launching soon on Fantom, Arbitrum, and other chains. We have tried to take a hybrid approach of Sushi and Uniswap, while also innovating on core AMM features. We are also trying to design a user experience that is suitable for institutional investors.
Q. What features separate Dfyn from other AMM’s?
When we first launched, Dfyn was the first gasless AMM in the world. This is one of our core features, especially as we continue to expand our L2 offerings. We are also building on the Router protocol, enabling users to seamlessly communicate across blockchains and enable new cross-chain use cases, such as cross-chain lending, borrowing, swapping, and so on.
Q. Tell me about your prediction markets.
Currently, we have prediction markets on the Polygon blockchain that allow users to speculate on the price of Matic over 5, 15, and 30-minute timeframes, predicting if the price will go up or down during this period.
Q. How is Dfyn integrating with Chainlink?
Chainlink provides the data feed for $MATIC prices to the Dfyn prediction markets. As we expand to Fantom and other chains, we will also use Chainlink for these data feeds.
Q. How do you see the DeFi industry solving the liquidity fragmentation issue?
The industry is moving toward efficiency. Moving assets from one chain to another in our current environment is a huge problem. In DeFi 2.0 and future DeFi applications, the market will become far more efficient with all asset prices matching across chains, and seamless liquidity moving funds from one chain to another. Dfyn’s gasless features will help to mitigate the challenges of using multiple blockchains — as not having native tokens to process transactions will be a nonissue.
Q. What are use cases for Router on Dfyn other than trading? What other functionality will take advantage of cross-chain capabilities?
Router will be a very general cross-chain communication mechanism. Cross-chain trades are simply one very specific use case. Router will also enable cross-chain lending/borrowing, allowing users to arbitrage interest rates on different blockchains. Cross-chain farming will also be made possible. Router will be open-source infrastructure that developers can build cross-chain applications on top of. The potential for cross-chain use cases is only limited by the ideas of those building on top of it.
Q. Do you think other chains will be relevant after the Eth 2.0 merge happens?
Even if ETH 2.0 is successful, gas costs will be reduced but non-zero. ETH 2.0 will surely optimize transactions and some side-chains will die — however chains with strong communities and ecosystems will continue to flourish. There are also non-EVM compatible chains such as Cosmos, Polkadot, and Solana that will continue after ETH’s merge — cross-chain infrastructure will still be required for these.
Q. Where is Dfyn headed? What can we look forward to in the coming weeks and months?
Dfyn as a project is very young — only 4 to 5 months old since we introduced the token. We have been learning a lot as an organization, and have so many ideas. As we mature as a company, we have been identifying ideas that are most worth pursuing. These will include integrating with Router, developing cross-chain use cases, making trading easier with productions like Fusion,and the launch of Dfyn v 2.0 which will be similar to Uniswap’s customizable trading curve — but with limit orders included.
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Discord : https://discord.gg/yjM2fUUHvN
Telegram Announcements: https://t.me/dfynofficial