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An Interoperable Open Finance Ecosystem.
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dForce aims to build an integrated and interoperable open finance and monetary protocol ecosystem, with products including asset protocols, liquidity protocols, and more.
The DF token is the ERC-20 native utility token of the platform and is mainly used for the following:
Governance: DF token holders can vote on governance decisions and set protocol parameters.
Liquidity mining: liquidity providers on dForce are rewarded with DF tokens.
Payment: users are required to use the DF token to pay for various services provided by the platform, such as the generation of USDx, GOLDx, etc.
System stabilization: DF tokens are minted and auctioned to cover bad debts and recapitalize the platform.
As of writing, the project has launched the following products:
Asset Protocols: USDx (a synthetic stablecoin backed by USDC, PAX, and TUSD), GOLDx (a digital asset backed by physical gold), and dToken (representation of staked erc-20 assets on the dForce platform).
Liquidity Protocol: dForce Trade (a liquidity aggregator for users of decentralized exchanges).
Details of the DF token distribution can be found here.