Review on dForce by Bünyamin Sevinç
dForce
Today I will talk about dForce, another of the projects of the week. First of all, I can say that for this project, it creates a complete stack of DEFI protocols focused on the Chinese market, unauthorized, editable. First of all, the main goal is to create a full-fledged DEFI protocols eco system, based on the USDx stablecoin for the Chinese market and aim to change it.
The main purpose of most Chinese blockchain projects such as NEO, Vechain and Tron is actually to create public smart contract platforms. At this point, Dforce aims to fill this gap.
I can say dForce's weighted basket stablecoin is USDX.
I anticipate stability, flexibility and scalability with USDx. Because the team is also aiming this. Because they believe USDx will succeed by using a combination of fiat-backed and over-secured tokens.
USDx also gives users a say in governance. This somewhat reduces the risk. I can say that new stablecoin types such as USDx are needed.
dForce's main mechanism is the Lendfme lending protocol. Because it allows users to borrow or lend their crypto assets to a pool of reserves.
They also have their own local tokens. With this token, you have the ability to use transactions, payments, community governance, incentives and an insurance pool.
I would say that Dforce's focus on the Chinese DEFI market is a good way for this project. I also love that Dforce includes its own native DF token. In conclusion, I can say that dForce looks promising for DEFI products.
Thank you to everyone who reads and those who do not.
Pros
- Focused on the Chinese market
- Consists of permissionless, editable, DEFI protocols
- Based on USDx stablecoin
- With Lendfme, users can borrow or lend their money to a pool of reserves
- Local tokens are available and many possibilities with this token
Cons
- Not for now
New products
Comments (1)
December 02, 2020
I see that it belongs to the Chinese market as a deficiency for me. But if you saw it as a plus, I respect it. The functionality of their native tokens is really good considering the pros.
