dForce is excited to continue rapid multi-chain growth by releasing protocol on all EVM-compatible blockchains integrating with Chainlink
We have taken several precautions to ensure a seamless user experience, from bug bounty programs to comprehensive audits to connecting with the industry leading oracle network, Chainlink, because protocol dependability is our top concern.
dForce’s core engineers have further integrated Chainlink Price Feeds on Arbitrum since our last integration in March 2021. The dForce protocol also supports other EVM compatible chains, including Ethereum, BNB Chain, Arbitrum, Polygon, and Optimism. Chainlink serves as the primary oracle for dForce’s lending protocol and algorithmic stablecoin system.
EVM-compatible blockchains provide several benefits and enable unique use cases. Consider the case of Arbitrum. Arbitrum is an Ethereum layer-2 solution that allows developers to create highly scalable smart contracts at a cheap cost while maintaining security guarantees. DeFi customers may now combine dForce’s open finance protocol matrix with Arbitrum’s high speed and low transaction costs since Chainlink oracle networks can operate at the native speed and cost of any blockchain or layer-2 solution.
“Chainlink Price Feeds are the most widely adopted market data solution in the smart contract space, and our integration helps bring globally accurate prices to our dApp on Arbitrum. Not having to worry about the security of our oracle solution as we continue expanding in the multichain ecosystem gives our development team more time to focus on building novel DeFi solutions for our community.” — Snow, CTO at dForce
About Chainlink
Chainlink is the industry standard for developing, acquiring, and reselling oracle services required to run hybrid smart contracts on any blockchain. Chainlink oracle networks enable smart contracts to connect to any external API while also leveraging safe off-chain calculations to enable feature-rich apps. Chainlink presently protects tens of billions of dollars across DeFi, insurance, gaming, and other important industries, and provides a universal gateway to all blockchains to global organizations and prominent data suppliers.
About dForce
dForce pushes for the development of a comprehensive set of DeFi protocols encompassing assets, loans, and trading, which will serve as DeFi infrastructure in Web 3. With a TVL of $495 million, dForce is now implemented on Ethereum, Arbitrum, Optimism, and BSC (Data Source: Defi Llama).
Pool-based multi-collateral and vault-based single-collateral multi-currency stablecoins are both supported by dForce core protocols (USX and EUX). We can successfully address liquidity shortages for protocols connected with USX and EUX by implementing PDLP (Protocol-Direct-Liquidity-Provision) and POO (Protocol-Owned-Operator).
In addition, dForce has a pool-based multi-sided lending protocol that allows numerous collaterals and a market-driven dynamic interest rate model.
Trail of Bits, ConsenSys Diligence, Certik, and Certora audit dForce’s smart contracts, and Immunefi offers a bug bounty.
