Dfyn Fortnight In Review
Recapping Dfyn’s Accomplishments in the last two weeks
Another fruitful fortnight for Dfyn as we continue to build partnerships and additional use cases for our community. Sharing our major highlights from the past two weeks.
IntoTheBlock Analytics Integration
We have integrated pair-wise analytics from Intotheblock into our Charts page, allowing our users to better visualize the underlying activity in each trading pool. These new data sets provide vast new insights into each trading pair, allowing you to take your research to the next level and dive deep into the numbers.
Partnership with PolkaCover
Polkacover is a DeFi insurance marketplace that seeks to lower the costs of insurance policies while continuing to offer high-value protection for a broad array of crypto products. Its insurance protocol is entirely community-driven. The Polkacover network will offer cover insurance for Dfyn Stable Pools on the Dfyn marketplace. Learn more about Polkacover here.
Attrace Referral Marketing Program
Dfyn users can now earn referral rewards for bringing liquidity providers to Dfyn. That’s right — you can earn rewards without providing any liquidity yourself! Eligible pairs are ROUTE-USDC, ROUTE-ETH, DFYN-ROUTE, DFYN-USDC, and DFYN-ETH. For more information on how to register as a promoter and start earning referral rewards, check out this guide.
Partnership with DeHive
DeHive is a smart asset management protocol that tokenizes portfolios into “clusters”. These portfolio “clusters” are yield-producing and can be staked to earn additional rewards in the form of DHV tokens. DFYN has partnered with DeHive to be included in their first cluster on the Polygon network — called Polycluster. Assets included in this cluster are MATIC, QUICK, DFYN, FISH, BIFI, QI, and ADDY. This partnership will help to create deeper liquidity and market demand for DFYN tokens.
New Farms Launched
We recently announced the sixth phase of our liquidity mining program, and are excited for the continued growth that this phase is sure to bring to our network. Our liquidity incentive programs have enabled the Dfyn DEX to be one of the widest used exchanges on Polygon. All popular farms (except QUICK-MATIC) will be renewed for 45 days and will add three new ecosystem farms (SING-DFYN, BIFI-DFYN, and RAZOR-ETH) along with a new dual farm in RAZOR-DFYN.
Integrating Chainlink Price Feeds
We are excited to partner with Chainlink as our primary oracle provider for all Dfyn applications. Specifically, we are integrating Chainlink oracles into our Predictions markets, which require a robust price feed system in order to maintain protocol integrity. Chainlink is a longstanding, highly reputable Oracle network that provides the highest quality data to smart contracts. Read more about our integration here.
Launch of DFYN Governance
The first DFYN Governance vote went live, allowing our community of token holders to direct protocol decisions for the first time! The vote was on the fate of DFYN tokens that were bought back via protocol fees. The results are in, and the community has voted to compound the effects of the buybacks by staking LP tokens in the DFYN-USDC farm. We thank all those who voted in the community for their contributions!
Lending/Borrowing with $DFYN on IRON Finance
We are excited to partner with Iron Finance and list on their Iron Lend money market! DFYN token holders can now put their idle coins to work by lending out DFYN and borrowing other coins against their position. This listing can also be utilized to take leveraged positions on DFYN! The DFYN market opened on September 7 with a 20% collateral factor.
Imminent Launch of vDFYN
Last but not least, we are proud to announce the much-anticipated release of vDFYN. The tokenomics design follows in the wake of Sushi, which distributes protocol fees to stakers. This was alluded to in our first governance proposal and was voted in through the passed option (option 4). The current ETA for this is September 2021.
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