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
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.
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
We have an active community on Twitter, Telegram, Discord and Medium.
Our detailed audit reports can be found here
- 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