Review Dfyn ($DFYN) – A multi-chain AMM DEX is currently functional on the Polygon network.

Dfyn is a community-governed DeFi project that offers a low-fee AMM exchange along with yield farming opportunities. It combines the unmatched liquidity of Ethereum with the scalability of L2 platforms. It will also work on providing a comprehensive platform for social tokens and NFTs. The project nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.

https://youtu.be/BJz3_OVN-3s

What is Dfyn?

Dfyn is a multi-chain AMM DEX that is built to be an inter-connected AMM with nodes spread on different blockchains and those AMMs will be able to share liquidity and enable cross-chain swaps. Currently, it is live on Polygon and Fantom.

All swaps on the Dfyn exchange incur fees of 0.3% — out of which 0.25% goes to the liquidity providers, and 0.05% goes to the Dfyn DAO. The idea with the vDfyn vault is to redistribute the 0.05% to the community members who wish to stake their Dfyn tokens.

Polygon instance deployed of Dfyn is a gasless exchange where users have to just sign the transactions and none of the fees are passed to users.

With the project nodes spread across multiple Layer 1 and Layer 2 blockchains, it will act as a multi-chain DEX. This will allow the project to plug into a liquidity super-mesh, enabling users to perform their asset trades seamlessly on several blockchains from a single interface. It will also build a decentralized swap station to swap large assets natively like BTC, ETH, and ADA in a non-custodial way.

An ultra-fast gasless AMM optimized for the multi-blockchain universe, the project AMM will address traditional AMM DEX issues, such as impermanent loss, as well as provide enhanced trader analytics.

Outstanding features

What is the project trying to achieve?

Vision

To achieve an inclusive DeFi ecosystem empowered by a fairer, cheaper, and more accessible multi-chain AMM.

Mission

In what is clearly looking like a multi-blockchain future, are committed to establishing an ecosystem comprising a trustless decentralized exchange (DEX) coupled with an ultra-fast automated market maker (AMM) which is optimized for the multi-blockchain universe. By building a thriving multi-chain ecosystem, the mission is to onboard the next wave of crypto users into the DeFi world.

How does it work?

By staking the project tokens in the vDfyn vault, users will be able to mint vDfyn tokens. The vDfyn token will automatically earn users a share of protocol fees. 0.05% of the swap amount will be allocated to vDfyn holders and distributed proportionally between vDfyn holders. Because are talking single-asset staking here, there will be no impermanent loss involved for those staking the project tokens to mint vDfyn tokens.

vDfyn holders will be entitled to get all of the fees earned by the Dfyn. Exchange — including the fees from swaps and the prediction markets and other products on the project roadmap. This means that more users use the project. Exchange and the more fees are accumulated, the more vDfyn will appreciate.

What is unique selling point?

The Dfyn Ecosystem

Multi-chain AMM DEX

The project is a fully decentralized multi-chain protocol that relies on automated market makers (AMMs) instead of order books to enable token swaps. Anyone can use the exchange to swap tokens or to earn fees by supplying liquidity to various liquidity pools. On low-gas networks like Polygon, It eliminates gas fees altogether by integrating meta transactions. Currently available on Polygon and Fantom, it will eventually deploy AMM nodes on multiple layer 1 and layer 2 blockchains, thereby acting as a multi-chain DEX. An ultra-fast gasless AMM optimized for the multi-blockchain universe

Router Protocol

The project will utilize Router Protocol’s cross-chain bridges to seamlessly allow communication and value transfer between different the project nodes

Future Scope

Dfyn as a Cross-chain DEX

Currently a multi-chain DEX, Dfyn will evolve into a cross-chain DEX in the coming future where users will be able to trade on any blockchain network, say Ethereum from any other blockchain network, say BSC. For example, a user with 2000$ on his Ethereum wallet will be able to buy 1 Ether on BSC using the project. With so many users in the industry familiar with the AMM model — it becomes of essence that all new chains support an AMM-based DEX and it is offering exactly that. The project AMM will be able to cater to both types of trades — the user will be able to limit their trades to be filled within a single chain or the user can also explore multi-chain trades. All within the same UI.

Layer 2 Launchpad

In the future, intend to launch a first-of-its-kind Layer 2 launchpad that will allow creators to:

• Launch tokens on multiple chains
• Get listed on the project
• Initiate farming plays and vesting with no-code tools
• Stake contracts on the project
• Undertake creatively designed Layer 2 IDO strategies in the absence of high ETH fees

Features

Blockchain Agnostic

Dfyn is looking to build a blockchain agnostic ecosystem that works perfectly well with all the underlying blockchain technologies. What this essentially means is that the users can use the project’s DEX in coalition with any blockchain network of their choice. It will also host a node-runner platform where blockchain evangelists will be able to run their own project node on the blockchain to earning passive income from fee collection.

Transparent

Using the project will be completely transparent. Users will be able to see what goes on “under the hood” every time they interact with the protocol. Furthermore, the project’s smart contracts and the codebase are completely open-source.

Better User Experience

By enabling zero gas transactions and smart order routing, it will ensure a much better user experience in comparison to current Layer 1 DEXs. The transaction costs will be a small fraction of the costs in the Ethereum network and the transactions will be at least 10 times faster.

Build Your Own Farms (BYOF)

Build-your-own-farms (BYOF) allows users to create and deploy farms themselves. It can be thought of as a no-code farming-as-a-service.

Benefits

• Easy for partners to create farms.
• A great platform for teams to promote their project by giving out rewards in the project’s native tokens.
• No need to wait for a specific date to launch farms.
• No need to deploy farms manually, farms will automatically be deployed from the time specified by the creator.
• Free up tech team’s bandwidth so they can focus on other development angles.

Cloning mechanism

The factory contract will clone the dummy contract and create a new farm contract with the parameters provided by the farm deployer. Have dummy contracts for Launch, Popular, and Dual/Ecosystem farms. Other strategies can also be added, will just need to add a dummy contract for that strategy to the factory contract.

Roadmap 

Technical Data

Key metrics 

• Token Name: Dfyn
• Ticker: DFYN
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: Updating…
• Token type: Utility, Governance
• Total Supply: 200.000.000
• Circulating Supply: Updating….

Token allocation

Token release schedule

Token sale

Updating…

More information at: CLICK HERE

Token use case

The project’s native utility token, the DFYN token, will perform a crucial role in the functioning of the project ecosystem. The DFYN token is expected to have multiple utilities:

• Governance

The holders of the DFYN token will be able to use their tokens to take part in Dfyn’s governance by voting on the project proposals concerning protocol amendments and upgrades. Although the specifics in regard to the voting machines have not yet been finalized, it is expected that each holder’s votes will be weighed against the amount of DFYN tokens held by them. 

• Revenue Sharing

A competitive 0.3% fee is charged over each trade taking place over the project. Of this fee, 0.25% is distributed to the liquidity providers in proportion to their contribution to the liquidity pool, while the remaining 0.05% is distributed to the project token holders who have staked the project tokens in the vDfyn vault.

How to own the token?

Updating…

Markets and Community

Community

Dfyn has crossed the mark of 38,000 Followers on Twitter

Backers

Team/ Founders

Partners

Investors

Verdict

Currently, most DEXes like Uniswap & Sushiswap on Ethereum, Pancakeswap, and Bakeryswap on BSC, allow users to trade assets only on a single chain. However, users of the Dfyn exchange will be able to perform asset exchanges atop multiple blockchains. Additionally, it will evolve into a cross-chain DEX in the coming future where users will be able to trade on any blockchain network, say Ethereum from any other blockchain network, say Hecochain. For example, a user with 2000$ on his Hecochain wallet will be able to buy 1 Ether on Ethereum using the project.

Find more information about Dfyn:

Website: https://dfyn.network/

Whitepaper: https://dfyn.network/assets/docs/Dfyn-Litepaper.pdf

Twitter: https://twitter.com/_dfyn

Telegram: https://t.me/Dfyn_HQ

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Elise

Coincu Ventures