Weekly Update – MetaChain's Progress, Special DFIPs and Burn Bots

Aug 25, 2023

Hi DeFiChain community!

Another week is in the books, and as always, we're here to provide a digest of the latest happenings within the DeFiChain community. From our continued progress on MetaChain to Special DFIPs going live, here's what you need to know:

MetaChain's Rapid Progress

Both Beta 9 and Beta 10 for Changi TestNet were launched this week, with the key point being that the core developer team has finished building all necessary features for MainNet. The focus now is purely on stability and testing before setting a RC. For a deeper dive, check the release log here.

Governance: Special DFIPs Are Now Live

We're pleased to announce that Special DFIPs #285 & #286 have successfully passed the voting round and have already been activated on DeFiChain. A brief on the DFIPs:

  • DFIP #285: Aims at staking dETH-backed ETH on Bake, converting the rewards into DFI, and burning DFI for enhanced value.
  • DFIP #286: This involves staking of DOT, SOL, MATIC with an objective to buy & burn DFI through Bake. It also includes the introduction of dDOT-DFI, dSOL-DFI, dMATIC-DFI liquidity pool pairs on the DeFiChain DEX.

For those keen on monitoring the dETH backing, the DeFiChain ETH staking DAO address is available for tracking here.

Burn Bots: A Temporary Halt & Update

With the recent upgrade to the Ocean infrastructure for the MetaChain layer, the DeFiChain burn bots have momentarily gone offline. However, as the team gears up for the MetaChain launch and the subsequent stabilization of Ocean, these bots will soon be reactivated.

For transparency, DFI amassed by the burn bots during this hiatus can be monitored at these addresses:

To ensure market stability, the accumulated DFI in these bots will be gradually sold over a 90-day span.

In Case You Missed It

For those who missed out or need a recap, the latest episode of the DeFiChain News Show is a must-watch. This edition sheds light on the Special DFIPs and the positive buying pressure they're expected to bring on DFI. Tune in here:

Thanks for being a part of our thriving community! We’re excited about the journey ahead and are immensely grateful for your unwavering support. Together, let’s keep pushing the boundaries of decentralized finance. Until next week, stay safe and keep decentralizing!


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