dForce Improvement Proposal 001 (DIP001)
A governance poll has been proposed through voting system for the community to vote for the integration of Yield Enhancing Protocol with USDx. Governance Poll lasted three days from 12:00 UTC+8, 26 to 12:00 UTC+8, 29 February. This governance call ended with voting result as follows:
3.66% (Quorum: >1.5%) of dForce Token (DF) participated with 99.99% (threshold: >50%) in favor of the proposed integration: up to 90% of constituent collateral will be unlocked and re-supplied into the lending protocol of dForce (or similar designated protocols like Compound, dYdX, and etc) to earn yield. Therefore, the proposal is passed and will be implemented accordingly.
This proposal is an attempt to optimize the yield generating capability of USDx. USDx holder now can earn passive interest by simply depositing USDx into USR (USDx Saving Rate). Given the supplied collaterals are also over-collateralized in the designated lending protocols (i.e minimum 125% Collateralization Rate on the lending platform of dForce), hence the collateralization of USDx actually improve from 100% CR to 115% (assuming 90% of collateral has been re-supplied to yielding protocols, 10%*100%+90%*125%).
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