dForce

Build a protocol matrix that max out composability and fungibility over a variety of protocols.

dForce advocates for building an integrated and interoperable open finance and monetary protocol matrix, including lending protocol (dForce Lending), asset protocols (dToken, USDx, GOLDx), and liquidity protocol (dForce Trade).

dForce Token

dForce Token (DF) is the governance token across the network, giving DF holders complete control over decisions concerning dForce protocols, including onboarding of new assets and collaterals, changes to risk parameters, fee accrual, interest alignments, etc.

Prior to the launch of DF Staking, only native DF tokens were used to facilitate governance vote via Snapshot. Moving forward, voting rights will be extended to DF tokens in all forms (DF, iDF, sDF, veDF).

• DF - native DF token
• iDF - deposit certificate for DF supplied to dForce Lending
• sDF - staking certificate for DF participated in Free Staking
• veDF - staking representation for DF participated in Lock-up Staking

Hybrid Staking

dForce pioneers in staking by introducing a hybrid model featuring both Free Staking and Lock-up Staking, which is the first of its kind in DeFi.

• Free Staking allows DF holders to stake and unstake at any time, and earn a passive yield.
• Lock-up staking requires a lock-up period of DF tokens from 1-week (minimum) up to 4-year (maximum) - the longer you lock DF tokens, the higher yield and voting power you will earn.

Lock-up staking yield is accrued on top of free staking yield structurally. In addition to that, most of DF purchased in the secondary market will be rewarded to lock-up stakers.

Voting Power

In order to support the broadest possible participation in dForce governance, two forms of staked DF (Free v.s. Lock-up) will have different voting weights aggregated across all blockchains and layers we support:

• DF and iDF (lending certificate): each DF or iDF for 1 vote
• Free Staking: each staked DF for 1.2x votes
• Lock-up Staking: each veDF for 6.0x votes

Voting power favors long-term holders - the longer you lock your DF, the more voting rights you will get.

It is worth noting that unlike the veCRV model, the balance of veDF will NOT decay before participants unstake upon lock-up expiration. For example, a holder locks DF up for 4 years, and his veDF balance will remain unchanged throughout the lock-up period. We believe this will give more incentives for DF token holders to participate in long-term staking.

Governance Process

• Warm-up Period: All proposals are advised to be posted on dForce Forum for discussion before initiating a vote.
• Voting Period: Each Snapshot vote shall last 72 hours.
• Threshold: At least 50% of DF votes participated are in favor of the proposal, or it is deemed rejected. You will have to re-submit your proposal if needed.
• Quorum: 2% of total outstanding votes.