Welcome to the December 2023 dForce ecosystem report!
While we already bid farewell to 2023 with our end of year update article, in this article we’re going to get more technical and share the latest numbers of the dForce ecosystem together with the latest news and achievements. Ready? Let’s get to it.
💥 Highlights
- A recap of our product developments, grants history, liquidity mining campaigns, governance proposals, achievements, new narratives and much more together with the 2024 Roadmap are the ingredients of our latest article “dForce Chronicles: A Year in Review and What’s Next in 2024!” Click here to read it.
- Following a governance vote, the emission of $DF to iUSX stakers on dForce was suspended. As of December 14th, Unitus started hosting and incentivizing the iUSX staking pool! Click here to learn more.
- A temperature check to deploy dForce to X1, the ZK-powered L2 built by the top tier CEX OKX was shared with the community. Click here to read it.
- Finally, we’re gearing up for the upcoming launch of our Liquidity Mining campaign, following the backfunding of our STIP proposal by Arbitrum! Stay tuned for exciting updates!
🗳 Governance
As part of our broader tokenomic revamp, the proposal to sunset dForce liquidity mining initiatives, which includes liquidity mining activities, across all supported networks, passed wuth 83% of votes in favor.
Aspida, an emerging LSD protocol, published a proposal to seek dForce community’s feedback of a collaboration on Arbitrum by building a joint vault to leverage its STIP incentives for boosting dForce’s LSD TVL.
📊 Performance
In December, USX had a ciculating supply of over $145 M distributed as follows:
- 66.3% (102.9 m USX) used as Liquidity for the bridge.
- 6.7% (9.72 m USX) on Celer to power the cross-chain bridging of USX.
- 2% (2.86 m USX) are powering USX-related trades on DEXes.
- 11% (16 m USX) deposited on Lending.
- 9.8% (14.32 m USX) are currently held by other market participants.
Source of Capital
- 99.4% (144.96 m USX) are protocol-controlled liquidity.
- 0.5% (777 k USX) are minted through the vault.
Liquidity by Networks
- 78.3% on Arbitrum
- 11.1% on BSC
- 7.5% on Optimism
- 1.9% on Ethereum
- 1.2% on Polygon
Swap (LSR)
By January 1st 2024, dForce Swap recorded an accumulated volume of $264 M for swaps between $USX and $USDC, $USDT, $DAI across all supported blockchains.
December contributed $145 k swap volume, with Optimism accounting for $94 k, or 65% of the total.
Revenue
dForce recorded an Annualized Platform Revenue of $1,181 m in December, with 20% generated on Binance Smart Chain, 11.3% on Polygon, 16% on Optimism, 31.77% on Arbitrum, and 20% on Ethereum.
⛏ Liquidity Mining
dForce has delegated its liquidity mining initiatives on Ethereum, Arbitrum, Optimism, Binance Smart Chain, Polygon, and Conflux to Unitus. Please visit the Unitus Forum to view the gauge (updated on a weekly basis).
📰 Marketing
dForce has participated to a Christmas QuestN campaign organized by zCloak Network! Click here to check it out.
