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Showing posts from August, 2024

Last DeFiChain News Show

DFIP Spotlight: Re-peg and Re-collateralize the dToken System

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The dToken system is a cornerstone of the DeFiChain ecosystem, yet recent issues have made it increasingly difficult to use it effectively, largely due to some decisions in the past that have proven less than optimal. A DeFiChain Improvement Proposal (DFIP) has been approved lately that is poised to address these challenges head-on, focusing on the re-pegging and re-collateralizing of the dToken system. This proposal, slated for implementation in the upcoming September hard fork, offers a structured, deterministic approach to re-pegging DUSD to $1, rewarding loyal supporters, and ensuring a robust and fair system for all users. The Core Issue At the heart of the issue is DUSD, DeFiChain's semi-algorithmic stablecoin, which has faced challenges in maintaining its peg to the US dollar. The current methods to stabilize DUSD have relied heavily on market participant behavior, making the peg too probabilistic. This reliance on more or less unpredictable market actions has proven proble...

DeFiChain Labs Becomes Node Validator for CrowdSwap's Cross-Chain Bridge

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DeFiChain Labs is proud to announce its role as a Node Validator for CrowdSwap's Cross-Chain Solution. This development marks another milestone for DeFiChain Labs and further reinforces its commitment to sustaining critical infrastructure within the DeFiChain ecosystem. Understanding Cross-Chain Bridges Cross-chain bridges are specialized decentralized applications (dApps) that enable the movement of assets from one blockchain to another.  By leveraging smart contracts, these bridges lock or burn tokens on the source chain and subsequently unlock or mint equivalent tokens on the destination chain. This process increases token utility by enabling cross-chain liquidity and expands the use cases of blockchain technology. CrowdSwap's Cross-Chain Bridge stands out for its ability to facilitate a wide range of transactions across multiple blockchains. Whether it's transferring assets, engaging in token swaps, or accessing cross-chain money markets, this bridge serves as a critica...

DeFiChain Labs Tech Sync – August 2024

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The DeFiChain Labs team recently held their monthly Tech Sync, offering valuable insights into ongoing projects and upcoming network enhancements.  Here’s a summary of the updates: September Hard Fork The mid-September hard fork is set to introduce several critical improvements to DeFiChain.  While the exact date is still being finalized, the team has already outlined the major updates that will be included: Revamped Owner Rewards Calculation: Addressing long-standing bugs, this update aims to streamline how owner rewards are calculated. The fixes are expected to be finalized by the end of the week, ensuring a smoother experience for all users. Faster Block Time: While increasing block speed has long been on the agenda, the team is approaching it with caution. The plan is to gradually enhance block time as the underlying infrastructure becomes capable of handling the changes without compromising stability. Token Ownership Update: One of the most anticipated changes is the abil...

A Closer Look at the September DFIP & CFP Voting Round

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Four DeFiChain Improvement Proposal (DFIPs) and one Community Fund Proposals (CFPs) are up for vote in the latest governance voting round. DFIPs: Reducing fees for composite swaps on the native DEX More capital efficient DUSD loans Unlocking 5jr and 10jr Masternode Freezers Manual commission payout to simplify tax calculation and reduce node computation load CFP: Complete Decentralization of DeFiChain Beyond Bake DFIPS: DFIP 1: Reducing Fees for Composite Swaps on the Native DEX High fees associated with composite swaps on DeFiChain's native decentralized exchange (DEX) have been a pain point for users. This proposal seeks to alleviate this issue by implementing a more efficient fee structure. Key Points: Current Issue: Composite swaps involving multiple pools incur high cumulative fees, disadvantaging certain trading strategies. Proposed Solution: A single fee per coin involved in the transaction, with only the highest fee being applied when multiple pools are involved. Community ...