Thread by @mindaoyang

1/ dForce’s revenue from USX perpetual trading already outpaced those from lending & stablecoin.

Dropped a medium and here would thread through the powerful combo of USX + perpetual trading, the 1st decentralized stableocin tapping into the market.
medium.com/dforcenet/how-…

2/ For starters, those not familiar with dForce, USX is the first pool-based, decentralized, over-collateralized USD stablecoin built on top of dForce’s lending pool and other designated pools (permissioned pools, liquid staking assets, real-world-assets etc).

3/ Unlike Maker, which is CDP or single-vault-based, USX is a pool-based, USX has several improvements over Maker’s model:
1) high cap efficiency (collaterals are yield-carrying);
2) multi-collateral & cross-margin;
3) fully compatible to CDP model (spring up CDP-like vaults).

4/ dForce partnered with MCDEX on BSC to launch first USX perpetual trading pool.
USX-enabled decentralized and permissionless perp trading pool will unlock several key primitives unmatched by CEX.

5/ First, it enables multi-collateral. For a typical perp trading on CEX, a trader deposit USDT into a CEX and start to trade within allowable leverage, most perp trading CEX only accept few collaterals, USDT, USDC or inverse pools which accept BTC, ETH as collateral.

6/ but for USX pool on MCDEX, instead of few selective collaterals, multi-collateral supported in dForce lending to mint USX, if you own ETH but want to trade in a USX vanilla pool, deposit ETH into dForce Lending and mint USX and deposit into MCDEX and started trading there.

7/ and your ETH sitting in a lending pool still generate saving rate while trading or LPing;
For USDT, instead of trading in vanilla pool where you basically earn 0% on USDT deposit, you could deposit USDT into dForce/earn 12% APY and mint USX and trade on MCDEX...

8/ ..you basically funded perp trading with negative 5-7% interest rate.

you could also use liquid staking tokens via Liqee (stETH, rATOM, rDOT etc) to mint USX for perp trading, so to unlock massive liquid staking tokens for trading while keeping all your staking yield;

9/ and there will be real-world-asset pool, which could be used to mint USX, so you are able to tap into real-world collaterals.

USX is a general multi-collateral solution for DeFi perp trading

10/ USX is the only decentralized stablecoin that connect to all DeFi’s primitives: lending, synthetic assets and perpetual trading
Adding perp trading primitive will further fuel the value loop created by dForce’s existing protocol matrix:

11/ It re-enforces this mega loop:

1.increasing lending liquidity >
2.cheaper USX , more adoption (Liqee, RWA, perp), cheaper for borrowing >
3. more protocol revenue from lending, USX, perp >
4. higher DF staking and farming APY >
5. lower cost of capital in lending
repeat

12/ The next leg-up is DF's planed tokenomics upgrade, which sets to further automate and supercharge the feedback loop.

Stay tuned for more to come.

For those interested in learning how to trade perp with USX, here you go

https://twitter.com/dForcenet/status/1452611775199911949?s=20

@dForcenet @MonteCarloDEX