DF soared three times in one day on Saturday. Can I buy it now after it has fallen? As the ace project born in the summer of DeFi in 2020, "dForce" was known as the "strongest DeFi project in China" when it came out in 2020. How is it operating now?
1. Founder: Yang Mindao, Chinese. When “dForce” came out in 2020, it was known as “the strongest DeFi project in China”. Those who understand it will understand it.
2. Investors: Huobi Capital, CMB International, Multicoin Capital
3. Operational model: dForce project currently has two products, one is Unitus Finance, which is for lending, and the other is USX Finance, which is for stablecoins.
You can look at the development status of stablecoins yourselves.
The lending business is somewhat better.
I just calculated that his total collateral value is only about $4.57 million. I wonder if this $12.4 million is the money of the management team.
4. Token Empowerment: There was nothing much to distribute, yet the lending business has its own UTS, and the stablecoin business has usx. The only two functions of the DF token are to stake for interest and to gain voting rights after staking. (The good news is that the project has frequent votes; the bad news is that there are only 12 voters.)
5. Revenue: I didn't find it on the official website, nor was it disclosed online. However, I think the lack of disclosure already indicates some issues, as surviving after a bear market is already quite good.
6. Market Value: Circulating market value of $65.6469 million. Fully diluted market value: $65.6469 million.
7. Token Distribution:
8. Celebrity Relations: Zhao Changpeng followed dForce's Twitter.
9. Price Trends: Since being listed on Binance in October 2021, it has been continuously declining, characterized by many spikes, clearly indicating severe market manipulation. At one point, there was a spike of -74.63% within a day, reaching a historical low. During the bear market, there was a spike of +460%, which was even more intense than this recent rise.
10. Others: In the last bull market in 2020, dForce's financial platform Lendf.me was hacked, losing over $24 million, with the entire asset pool wiped out. Later the hacker returned the money (possibly due to the large amount and fear of physical retribution).
I also don't understand this chart on the official website. I don't know why there are three dots in specific financial sections. At first, I thought it was a hyperlink, but later realized I was overthinking. Then, the first two English terms are Total Volumes($) for total trading volume and Total Transactions for total transaction amount. Well, shouldn't the unit $ be placed next to the transaction amount? Since there are no specific numbers, I also don't know if I translated it wrong.
The white paper cannot be opened. It might be a problem with my computer, so I'm posting the link here for everyone to check out if they're interested.
https://github.com/dforce-network/documents/blob/master/white_papers/en/dForce_Whitepaper_V1.pdf.
Summary: $DF
Old DeFi coin from our country, the bible of the crypto world: Do not engage with domestic projects. Although the project still operates after a bear market, compared to Aave during the same period, it clearly has no future. The only advantages are its low market value and full unlock, so there will be sporadic spikes.