Proposal: Whitelist DFD (DefiDollar DAO)

OLD GOV (LEGACY)
1

Greetings Bancor community!
This is Sid from DefiDollar and this is our proposal to whitelist DFD - DefiDollar’s governance token.

Proposal to whitelist DefiDollar DAO - DFD
Contract address: 0x20c36f062a31865bed8a5b1e512d9a1a20aa333a
Website: DefiDollar App

Discussion
DefiDollar aspires to be a risk-insured stablecoin layer for DeFi. It aims to provide a safe and stable way for users to hold their assets. In the shorter term, DUSD is a stablecoin optimized for peg safety, yield and diversification.
We function as a stability labs outfit and experiment with varied indexes and also upcoming stablecoin approaches that can be integrated into DefiDollar. Our upcoming products include a ibBTC - Interest bearing Bitcoin on Ethereum which is being built in conjunction with the Badger DAO team and will create a new standard for holding BTC on Ethereum while earning interest. Another initiative is to build the Option Coin - A put option backed synthetic asset with a defined price floor. This can later on be leveraged as collateral to issue stablecoins in a capital efficient manner.

Tokenomics
DefiDollar’s governance token, DFD (ERC20), is used to vote on governance proposals currently leveraging Snapshot. We have protocol fee sharing enabled via the DFD staking vault.
DFD token will be used to make critical protocol decision like

  • Whitelist & remove peaks
  • Assign peak ceilings similar to the ones in Maker Vaults to balance the index
  • Fine tune parameters like redemption fee within a peak
  • Decide on the distribution of the protocol income, we already had a vote where the community decided to split the protocol rewards 50:50 to the DFD staking and DUSD savings account

Community
We have an active community on Twitter, Telegram, Discord and Medium.

Audits
Our detailed audit reports can be found here

Market Data

  • 13,591,051 tokens in circulation
  • 100,000,000 maximum supply
  • 40% of Circulating Supply is locked in DFD Staking (IbDFD)
  • Current market capitalization is $ 9,586,057
  • DFD is available on SushiSwap, Uniswap & Balancer
4 Likes
2

No. Too small. No microcaps.

1 Like
3

Shouldn’t we let stakeholders decide? RGT is also a small cap for example and this is getting some attention.

2 Likes
4

What DFD is doing is a necessity for an emerging space like Defi. Been following this project for a while and haven’t been disappointed. Good luck guys.

3 Likes
5

What DFD is for DUSD is like what MKR is for DAI.
DUSD is sustenable, profitable, and extendable in defi ecosystem.
As as a governance token, DFD means a lot more in near future.

3 Likes
6

There is lot that goes beyond a gov token for stablecoin. DFD is closely linked with ibBTC which is being built in collab with badgerDAO (interest bearing BTC on ETH) and its also building OptionsCoin which will make DUSD more capital efficient once it launches. i am biased, but i definitely see defidollar goes places.

3 Likes
7

I am against this proposal and I think this would be better suited for the origin pools that are going live on Bancor soon:

Origin pools allow new token projects to bootstrap BNT-based pools with ETH
LPs provide dual-sided liquidity, with the ETH side protected from IL

1 Like
8

I think this can be good for both, DefiDollar and Origin can both coexist. Let’s focus on making the pie bigger :slight_smile:

2 Likes
9

DFD is a good stablecoin project, we should support it, the stablecoin project will have a good future, and the team is really great.

1 Like
10

I am a little worried about whitelistsing another stablecoin. In general, the stablecoins are a pretty significant burden on our ecosystem. However, depending on adoption and price stability, it may be appropriate for use in our new stable pool design.

1 Like