DAFI Protocol Transparency Report (8)
TL;DR
- We’ve launched our native cross-chain bridge, dBridge, to bring $DAFI to BNB Chain and allow for the creation of new SuperPools.
- We secured two strategic partnerships that will help expand the adoption of our Staking 2.0 technology.
- More than 1,675,000 $DAFI were distributed in Super Staking as network adoption translates into more significant rewards.
DAFI Protocol’s Staking 2.0 technology now runs on multiple low-cost and high-speed networks, thanks to our recently launched dBridge. We believe that our cross-chain bridge will enable more decentralized economies running on different blockchains to integrate programmable rewards.
As our synthetic dTokens become widely available, we continue making significant strides to help entrepreneurs and developers build a self-sustainable token economic engine.
Cross-Chain dBridge
Now that the blockchain universe has witnessed the true power of Super Staking, it was time to bring our protocol to other networks.
Our team of developers, academics, and industry experts have worked together to create our own native cross-chain bridge, enabling our community to use $DAFI on BNB Chain. Likewise, some of the most renowned auditors have reviewed and verified dBridge’s code to make sure it’s bulletproof.
With dBridge live on mainnet, the goal now is to reinvent every decentralized economy by maximizing incentives and kick-start a new era of Staking 2.0. dBridge gets us closer to our mission as it facilitates the bi-directional transfer of $DAFI between other blockchains.
dBridge was built by taking a security and speed-focused approach. The architecture uses Merkle-proofs and roots to validate transfers on more than one blockchain. Two bridge contracts are in place on the sending and receiving chain, with a listener watching over the events on both chains.
Users can now use the full capabilities of dBridge to take advantage of having DAFI running on top of Ethereum, Polygon, and now BNB Chain. Meanwhile, our growing partner ecosystem will soon be able to use dBridge as a service with a fee model that aims to expand $DAFI demand and utility.
We’re planning to add more cross-blockchain compatibility to tap every corner of the blockchain industry. In the meantime, Dafinauts can now buy BEP-20 $DAFI on PancakeSwap and Super Stake their tokens on the new BNB SuperPool in Super Staking.
Powered by DAFI
Our partners’ ecosystem is significantly growing as more and more projects realize that the best way to build a self-sustainable token economic engine is by adopting our synthetic dTokens technology.
We partnered with play-to-earn protocol Mimir to help the network upgrade its rewards distribution program through Super Staking. The introduction of synthetic dTokens aims to enhance the gamification of financial systems, also known as GameFi.
Mimir purchased more than 867,000 DAFI in the open market to complete the integration of synthetic dMIMIR rewards into its ecosystem and went live now on http://mimir.superstaking.io.
dMIMIR rewards will play a vital role in every process of the quiz game ecosystem as players are incentivized for locking their $MIMIR tokens, participating in live stream tournaments and engaging in different competitions within the Mimir Quiz dApp.
Viktor Södermark, CEO at Mimir, affirmed that $MIMIR also acts as a governance token giving the power to holders to vote on what the project should do next in terms of new games, software functions, and business strategies. Such a level of responsibility made it crucial for the play-to-earn network to partner with DAFI Protocol to ensure that early adopters and gamers are adequately rewarded for supporting the long-term growth of the decentralized economy.
We also made a new strategic partnership with SolanaPrime, which aims to help nascent DeFi, GameFi and Metaverse dApps build a sustainable economic engine from the get-go. The fundraising platform will offer founders and developers our Staking 2.0 plug-and-play module before TGE.
By integrating synthetic DAFI’s dToken rewards, any ecosystem running on top of any blockchain can bolster the qualities that attribute to the financial utility of the token during the earliest phases of development.
“We believe the technology the DAFI Protocol offers projects holding their IDO on the SolanaPrime launchpad will serve as a useful integration and long-term asset. Staking 2.0 is a new mechanism that rewards a network by supplying synthetics that will benefit users, even when demand declines. Such an innovative approach improves token distributions in staking, liquidity, and social reward systems in Web3,” said Ramiro Gamen, SolanaPrime’s co-founder and head of business development.
With dMIMIR and dPOLI rewards going live, roughly 1,675,000 $DAFI from these integrations were redistributed into Super Staking, boosting the rewards for all users.
The network expands
With Super Staking now available on Ethereum, Polygon, and BNB Chain, the number of $DAFI holders on these networks is increasing at an exponential rate.
Roughly 4,153 addresses are now holding ERC-20 DAFI today. The number of transactions on the network surged by more than 7.70%, to hit a record high of 45,502 transactions. On Polygon, 984 addresses hold $DAFI and have conducted 10,289 transactions, while 78 addresses hold BEP-20 $DAFI on BNB Chain with 611 transactions to date.
$DAFI’s circulating supply rose to 888,364,182 due to the increasing demand. Roughly 20.93% of it is locked and delegated in yield generating programs by the community.
More than 145,260,000 $DAFI have been Super Staked in our V1 and V2 SuperPools and 7,378,442 $DAFI are still locked in the Re-Stake Portal for users to claim and re-stake. Another 24,000,000 $DAFI are being delegated in the Pre-Staking Pool by nearly 3,000 unique holders, approximately 9,285,714 $DAFI are locked in the DAFI-ETH liquidity rewards program.
In total, 185,924,156 $DAFI tokens have been locked up by Dafinauts across the board.
Onwards and upwards
We’re determined to help new and existing decentralized economies in the blockchain universe achieve sustainability. With Staking 2.0, token rewards and circulating supply are reactive to market conditions to prevent supply shocks and spiraling reflexivity events.
The world’s first decentralized application to implement dTokens rewards is Super Staking, where the number of incentives distributed automatically increases or decreases depending on DAFI’s rate of expansion. Hundreds of protocols are showing interest in our programmable rewards, so we expect adoption to pick up and continue strongly.
While we continue to work on furthering our goals, make sure to follow us on Twitter and keep an eye on our Medium page to stay updated on what’s coming next. Don’t forget to join our community in Telegram.
