dForce Token to Update Incentives System on February 22nd

dForce Token is making a significant change in th incentive structure. The change is in line with Velodrome’s push for the adoption of USDC Native. The transition of incentives from the old system will start on February 22nd.

Refer to the official tweet by DF:

DF Info

dForce is a fully integrated and open financial platform that includes several protocols that offer decentralized finance (DeFi) services. The project offers users a wide range of financial services, such as staking, yield farming, lending and borrowing.

dForce's main product is dForce Lending. dForce Lending is a decentralized lending platform. Users can provide their cryptocurrencies as collateral, which allows them to earn interest, as well as borrow other cryptocurrencies. The whole process is carried out automatically through smart contracts, eliminating the need for direct interaction between the lender and the borrower.

When depositing assets into the pool, users receive collateral tokens reflecting their share in the pool. Borrowers can borrow funds up to a certain percentage of the value of their collateral tokens. In case of incomplete coverage of the loan by collateral, the position of the borrower is subject to liquidation. Interest rates on the dForce Lending platform are formed automatically in accordance with the supply and demand for a certain asset, which guarantees efficient and transparent pricing.

DF is a native token, that is used to participate in the governance of the protocol and receive rewards for participating in staking.