dForce is introducing deForce lending and USX to Avalanche

 


Following Ethereum, Arbitrum, Optimism, BSC, and Polygon, 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 the specifics of the integration.

Stablecoin USX
USX is the first stablecoin that is easy 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 a 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 the current USX market cap near $200mil, this additional liquidity will help expand Avalanche’s DeFi ecosystem.

dForce Lending
dForce Lending is currently the largest Lending protocol on Arbitrum in terms of TVL and it’s the very few full-suite lending protocols deployed across Ethereum, Arbitrum, BSC, and Optimism. It is a pool-based multi-sided lending protocol that 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, and 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 is battle-tested.

dForce Bridge
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, they will look for more collaboration and introduce dForce customized bridges to facilitate the cross-chain bridging of more assets in a decentralized manner, serving as general public infrastructure to power the growth of DeFi.

They, at dForce, believe cross-chain interoperability is critical to tackling liquidation fragmentation across different blockchains and look forward to collaborating with all developers and protocols in the Polygon ecosystem.

About dForce
dForce advocates for building a complete set of DeFi protocols covering assets, lending, trading, and 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).

Their 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), they are able to combat liquidity shortage effectively for protocols integrated with USX and EUX and achieve maximized efficiency with protocol controlled treasury.

They also have a pool-based multi-sided lending protocol that 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.



About Avalanche
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.

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