Dynamic Dollar Finance Launch! 🎉
Dynamic Dollar Finance (DFI) is an algorithmic exchange for stablecoins.
DFI is open-source, permissionless, entirely on-chain, and implemented on Ethereum. The main goal of the DFI protocol is to provide a highly scalable, decentralized, stablecoin exchange that allows holders to trade a multitude of existing stablecoins, and to participate in our upcoming algorithmic stablecoin at a discount (you must hold 21 or more DFI). Other benefits of buying and holding DFI will be revealed after the initial week of farming/mining.
Intro to DFI
The easiest way to understand DFI protocol is to see it as an stablecoin exchange platform. Its main goal is to let users and other decentralized protocols exchange (mint) stablecoins (USDC, ESD, DSD, and FRAX) onto the DFI platform and stake for DFI tokens. Holding 21 or more DFI gives the ability to participate in our upcoming algorithmic stablecoin (modeled after ESD) and at a discount.
There are two ways to participate in DFI and/or to receive DFI rewards:
Minting stablecoins onto our DFI platform and stake (subject to 2% minting fee | 1.6 % to former existing DFI minters and 0.4% to Treasury)
- 40% split across USDC, ESD, DSD, and FRAX (10% each)*
Provide liquidity in our DFI/ETH pair on Uniswap (with more pairs coming in the future)
- 60% rewarded to DFI/ETH Uniswap LPs*
‌Please take a look at our intro doc on GitBook for a more detailed write up on how to earn DFI.
*Please note that once you stake, there is a 24-hour lock-up period before you can unstake. Any subsequent staking during the lock-up period will reset the timer. Rewards can be claimed anytime.
After the first 2 weeks, we’ll take a snapshot and whitelist our DFI holders. Those that own 21 or more DFI, will be able to participate in our new algorithmic stablecoin at a discount.
Supply
There is absolutely no pre-mine, and everyone starts at equal footing from launch. All of the treasury and team tokens will be acquired alongside the community in the same exact way.
Yield farming will last about 2 weeks with a total of 210,000 DFI released:
Week 1 | 140,000 DFI Available:
3 DFI Per Block
Community = 2.5 DFI Per Block (83.33%)
Treasury = 0.25 DFI Per Block (8.33%)
Team = 0.25 DFI Per Block (8.33%)
Week 2 | 70,000 DFI Available:
1.5 DFI Per Block
Community = 1.25 DFI Per Block (83.33%)
Treasury = 0.125 DFI Per Block (8.33%)
Team = 0.125 DFI Per Block (8.33%)
Details of Our Launch
We are excited to announce our official launch date and time! We will kick off our farming/mining program on December 31, 2020 at 14:00 SGT. Just go to our website, and click “Launch App” to get started. Hope to see you all there, and Happy New Year !🎊
