DeFiChain Blog

2023 was a momentous year for DeFiChain filled with groundbreaking achievements that expanded the capabilities and utility of the platform. From launching decentralized on-chain governance to releasing the interoperability-enabling MetaChain layer, DeFiChain continued to push the boundaries of what is possible with decentralized finance. As the year draws to an end, it’s important to acknowledge the hard work that made this year so successful. Whether coding cutting-edge features, documenting processes, creating educational materials, or discussing big ideas – every contribution mattered. DeFiChain has built an inclusive ecosystem where everyone can play a part advancing the platform. But now let's unwrap what we've achieved together in 2023. A Recap of 2023 Let's take a look at some of the most important achievements of the year. Q1 2023 In the first quarter of 2023, DeFiChain made major strides in decentralization and interoperability through two significant upgrades - On...

The backbone of any blockchain ecosystem lies in its infrastructure—reliable, efficient, and scalable services that support users, developers, and the network's integrity. The MyDeFiChain team has filed a Community Fund Proposal (CFP) for 2025, ensuring the continuation of critical services while optimizing costs. This proposal requests 2,625,000 DFI (~$42,000 USD) to sustain the MyDeFiChain infrastructure for the entire year. The Scope of the Proposal The proposal focuses on maintaining and upgrading infrastructure components that form the foundation of DeFiChain services. These include endpoints, block explorers, snapshot services, faucets, and seeders. What the Funding Covers Ocean Infrastructure Endpoint: Ocean MyDeFiChain - Utilized by key services such as the LightWallet, Vault-Maxi, BNB-Bridge, and API services. Snapshot Ocean: Provides essential blockchain data backups. RPC Endpoints Mainnet: dmc.mydefichain.com - Supports services like LightWallet, MetaMask, and Blockscout...

Liquidity and trading efficiency are the lifeblood of any thriving cryptocurrency ecosystem. DeFiChain Labs recognizes this reality with a forward-thinking proposal aimed at sustaining market-making operations for DFI on KuCoin, one of DeFiChain's most important exchange partners. The Importance of Market Making Market-making plays a pivotal role in the health of a cryptocurrency market. It involves: Providing Liquidity: Ensuring buy and sell orders are readily available for traders. Minimizing Price Slippage: Reducing the impact of large trades on the price of DFI. Stabilizing Volatility: Fostering confidence in the token's price by maintaining an active, balanced order book. These elements create a more predictable and user-friendly trading environment, which is essential for attracting and retaining traders, investors, and developers. Proposal Highlights This funding proposal specifically targets market-making operations for DFI on KuCoin, where the token enjoys significant ...

As blockchain ecosystems mature, maintaining the critical infrastructure that underpins their reliability and functionality becomes a strategic priority. The latest funding proposal for DeFiChain addresses precisely this need, seeking approval for a one-year budget allocation for 2025 amounting to 6,000,000 DFI (~$90,000 USD). This funding will ensure the continuity of essential services that are the backbone of the DeFiChain blockchain. Understanding the Proposal The proposal outlines a comprehensive budget to sustain key infrastructure components vital to the DeFiChain ecosystem. These include: Ocean Infra: The foundation for connecting and interacting with the blockchain. Snapshot Infra: Ensuring data backups and network recovery capabilities. Defiscan and Blockscout Explorers: Enabling users to navigate both native and EVM blockchain layers. Seeders: Facilitating the seamless onboarding of nodes into the network. Continuous Integration Nodes: Supporting the ongoing development and...

Six DeFiChain Improvement Proposal (DFIPs) and five Community Fund Proposals (CFPs) are up for vote in the latest governance voting round. DFIPs: Step 1 towards a Marketing SIG Funds reallocation to Marketing SIG Removal of community managers and moderators affiliated with for profit organizations from DeFiChain social media groups Adjustment of Minimum Transaction Fees Based on DFI Price to 0.2 cents Deprecate the DFI-dXCHF and DFI-dMATIC liquidity pools Force the peg finally CFP: Redirecting Rewards from All dCrypto Pools to the BuyBurningBot (BBB) for dUSD Peg Stabilization Mydefichain Team Effort 2025 Mydefichain Infrastructure 2025 Operational and Infrastructure Costs for Cloud Services Ensuring DFI Market Making Continuity: Funding for Operations on KuCoin DFIPs DFIP 1: Step 1 Towards a Marketing SIG This foundational proposal aims to establish a Marketing Special Interest Group (SIG), marking the first organized initiative to drive DeFiChain’s visibility and growth. The SIG wil...

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: Key Achievements in 2024 The November DeFiChain Tech Sync underscored the team’s commitment to decentralization and performance improvements. This year, the roadmap spanned from the EVM integration to governance upgrades, setting a strong foundation for future advancements. EVM Integration and Enhancements The year kicked off with enhancements to the EVM integration launched in 2023. Addressed pressing issues like RPC fixes and blockscout resolutions, ensuring smoother operations. Introduced tracing and subscription APIs to bolster developer tooling and network visibility. Rolled out transformative features such as token splits, merges, and renames, empowering greater flexibility. Improved Token Management Support for fractional splits and token ownership transfers streamlined operations. A feature to re...