The domestic light of DeFi, dForce, is only a white paper away from the wind?

Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Chatting with Xiaozha (ID: xiaonazha88)Chatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.

The dForce white paper is coming out this week, let’s talk about it before the white paper comes out.

I wrote a few days ago "

dForce hastened to write a white paper, take advantage of the wind to turn around, and become the next COMP?

", which mainly sorts out the fundamentals of dForce, and briefly summarizes them into three aspects:

1. Dream big, build a platform that integrates assets, transactions, and lending;

2. The achievements and black spots are outstanding, and it has become an over-the-top agreement, and its assets have been stripped off by hackers;

3. The capital is relatively strong, including Huobi Capital, CMB International, and Multicoin Capital.

1. DeFi is a trend, dForce is a domestic light, whether there is a chance;

2. What is the status of dForce products in the industry;

3. The price of dForce tokens, whether there is a chance to give it a try.

My point of view may be wrong, mainly to communicate logic.

secondary title1. The domestic light, dForce》。 

Lei Jun said, "Standing on the wind, pigs can fly." So is DeFi an outlet?

Chang Jia said: If we summarize the past blockchain into three waves: 2009-2014 is digital currency, 2014-2019 is digital asset ICO, and 2020-future is DeFi.

I personally think that Ethereum has opened the era of blockchain 2.0, that is, the era of programmable finance. ICO is a financing application in the era of programmable finance, and DeFi is the arsenal of the era of programmable finance. For specific logic, see "

In the ETH programmable financial era, ICO is the appetizer, is DeFi the main course?

DeFi is an outlet, the first to fly is COMP, the second to fly is BAL,...

It is also domestically produced, and foreign projects are also popular first, so the DeFi trend is not to promote domestic projects? It should be unlikely.

There are also many domestic DeFi projects, including dForce, nerve, NEST, DDEX, MCDEX, For, Codex, DeFiner, Loopring, etc.

If you choose from a bunch of projects, you have to choose the tallest one first. Among them, dForce is a powerful one in a comprehensive view. At the same time, the founder of dForce, Min Dao, is also relatively well-known in the DeFi field, and it is also rumored that dForce is a domestic light.

Next, let's look at the strength of dForce.secondary title2. dForce's products have a certain status

Looking at strength, what do you look at? The ability to tell stories, the ability to market, or the ability to pull offers all depend on it. We also have to look at the points that the DeFi project itself should have.

As a new hot spot, DeFi is different from the previous hot spots? exist"

From altcoins, ICOs to DeFi, these changes have taken place in the currency circle

"A comparison was made in the article, the difference is:

In 2013, altcoins have main chains, or have already implemented application scenarios, or have open source codes;

In 2017, air coins may have no main chain, no actual application scenarios, and no open source code;

In 2020, DeFi, from the current point of view, needs both products and on-chain application data to support its stories and bubbles.

For example, on COMP and BAL, everyone pays more attention to the growth of application data such as lock-up volume and transaction volume.

Speaking of dForce, players who hold DF now are looking forward to the white paper of dForce, and the dForce staff has always said that the white paper will definitely come out this week, and they are doing makeup for the white paper.

In fact, as long as you have an idea for the white paper, you can work overtime and overnight to produce a copy. Why did it take so long?

It is not enough for a DeFi project to have a white paper and write a good story. It must be coordinated with the product launch and synchronized to better activate the market. Therefore, it is guessed that the white paper should have been waiting for new products to come out.

For new products, dForce founder Min Dao said that they have already entered the audit process. The project review time is 7 to 10 working days, which may be why it has been emphasized before that the white paper will be released within two weeks.

In fact, the new product is a mystery. For dForce, it is not only a positive, but also a potential uncertainty factor. If it is messed up, it will lose a lot.

Let’s make a reference from the products that dForce is running, the flash swap products that dForce is running, as shown in the figure below.

From the perspective of DEX, dForce swap, as a single stable currency exchange tool, ranks behind DEXs such as Loopring, Kyber, and DDEX in terms of locked-up volume, which is not bad. For DEX, the trading volume is more telling, but there is no comparison of trading volume.

From the product point of view, dForce swap is still ok, and I also look forward to the performance of his new product.

But the biggest black spot of dForce is that the assets in the product have been stolen, and this point will continue to be talked about.

Hopefully dForce is one of those "what doesn't kill me makes me strong" kind of team.

secondary title

3. DF, constantly washing dishes

A company is strong and its products are good, but its valuation is also high. Would you buy it?

So, take a look at the prices. Let's take a look at the DeFi governance tokens that have skyrocketed.

COMP was launched, priced at US$18.4, and rose to US$385, an increase of nearly 21 times.

BAL was launched, the seed round was $0.6, and the highest rose to $22, an increase of nearly 40 times.

On OKS, the private placement was $0.025, and the highest rose to $0.075, an increase of nearly 3 times.

These tokens can really earn a lot, mainly those who participated in the seed round investment in the early stage. After the product is launched, there is not much room for earning directly from the secondary market. In other words, retail investors actually don’t earn much, mainly because institutions earn away.

Looking at DF, the white paper has not yet been launched, the new product has not yet been launched, and the mining model has not yet been determined. When it is forced by the exchange, the price also plummets, falling from above US$1 to US$0.358 at the time of writing. Wash dishes constantly.

Where did these coins come from? The official explanation is from the airdrop users, partners and institutional shares who obtained DF tokens in the early stage.

Data on the chain shows that there are currently more than 1.2 million DF tokens in the Matcha Exchange.

However, DF airdropped 2 million tokens and currently released 1 million tokens. The official has repeatedly stated that it does not participate in the secondary market. The current secondary market is a game between retail investors and institutions.

From the perspective of market value, DF has a total of 1 billion pieces and a market value of 358 million US dollars, which ranks behind Maker, which is really expensive.

From the perspective of trading volume, the daily trading volume of matcha is more than 190,000 DF, and it is easy to smash the market for a large number of shipments. For institutions, it is easier to ship goods than to smash the market.

From the price point of view, DF has fallen back to $0.35, and it has been seesawing, and this price may be a balance point reached by institutions and retail investors, who are all waiting for the benefit of the white paper.