Hi DeFiChain community,
Welcome to this week’s edition of the DeFiChain Weekly Update, where we bring you the latest and most exciting developments from the DeFiChain ecosystem. Let’s dive into the highlights of the week.
Update: Dynamic DEX Stabilization Fees
A Dynamic DEX Stabilization Fee structure has been implemented on the Defichain DEX as of February 28th, in line with the recently passed DFIP proposal. The current fee is 80% (30% “old” stabilization fee & 50% “new”, dynamic stabilization fee). These variable fees on DUSD transactions appear to be working as intended, driving the DUSD price above $0.75 USD and steering it towards its targeted $1 peg.
For more details on the rationale and framework behind these developments, refer to the original DFIP proposal here.
DeFiChain Labs Engineering Sync
Don’t miss the DeFiChain Labs Engineering Sync on Monday, March 18th at 10:30 CET/17:30 SGT. This monthly community call is your chance to get the inside scoop on the latest updates, ongoing projects, and collaborative bug-fixing sessions straight from the engineering team. Topics include the upcoming hardfork, CFP payouts, dynamic stabilization fee, and more.
Join us for this 45-minute technical deep dive and get your questions answered live: https://meet.google.com/pez-xokc-pdn.
New Hardfork Schedule
DeFiChain will implement hardforks every three months at the latest, starting from the end of March/early April 2024. This new cadence replaces the previous ad hoc approach to software updates and protocol changes.
Learn more about it in this blog post.
Project Spotlight: CRYPTO FACTOR
Project Spotlights aim to shine a light on projects built on DeFiChain and deep dive into what they’re building with the teams behind the projects.
Last week, we spoke with @CryptoFactor_io, an aggregator of Web3 on-chain infrastructure services. They blend services into deployment templates that can run on EVM-compatible chains like DeFiChain’s MetaChain (DMC).
If you want to know more about the project and the people behind it, check out our latest blog post.
Ecosystem Project Updates
- Community Reward Campaign
Earn exclusive NFTs in DeFiChain’s latest Community Rewards Campaign. By completing specified quests, you can earn unique OAT NFTs and tally points for a chance to win part of the 4,000 $DFI prize pool, so act fast!
Secure your rewards here.
@atlantisNFTsapp announced an extension of their giveaway.
THIS IS THE SOCIAL MEDIA INTERN SPEAKING 📢
Admin is on holiday.
GIVEAWAY IS EXTENDED UNTIL NEXT WEEK! 🔥🔥🔥 https://t.co/KJKd6QuU2R
— Atlantis NFT Marketplace (@atlantisNFTsapp) March 11, 2024
@JelloDFI will airdroping some $JLO to DTM participants.
@JelloDFI meets #DexTradingMasters #DTM6
A huge $JLO drop will come to ALL participants of our great competition 🥳
Elevate your trading game to new heights and become a #Jellonaire 🚀 pic.twitter.com/c2ypWqOElB
— DeFiDexTrader ™ (@DeFiDexTrader) March 12, 2024
@Javsphere is sponsoring 10k $JAV tokens to DTM participants.
🌎 Exciting News for All Dex Trading Master 6 Participants! 🚀
We are thrilled to announce an exclusive prize for the #DexTradingMaster 6!
For the fortunate trader securing the midfield position, a grand prize of 10,000 $JAV will be awarded. Good luck!
More details below 👇👇👇… pic.twitter.com/6y4Lo3Kpu7— Javsphere (@Javsphere) March 13, 2024
@DexTradingLive announced the next Dex Trading Masters with amazing prizes to be won.
Registration for the #DexTradingMasters #DTM6 is now open 🥳 and trading will begin on 18.3.2024
How to Signup: https://t.co/IYsfNdFwoK…
Or watch the great little videos from @dPuschiii here:
— dex-trading.live (@DexTradingLive) March 4, 2024
Note: The content provided here is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consider consulting with a financial professional before making any investment decisions.
Recaps
Missed the most recent weekly news show with Lord Mark and DZ? Catch up on last week’s episode via the link below:
That wraps up this week’s DeFiChain update. Stay tuned for more exciting developments as we continue to build and grow the DeFiChain ecosystem. Here’s to another week of innovation and community-driven progress in the world of decentralized finance!
