Table of Contents
What is DFYN Network?
DeFi is being innovated by DFYN Network with the goal of creating a multi-blockchain network decentralised exchange. Users of DFYN DEX will be able to trade on leading blockchain networks, including Ethereum, Polygon, BSC, and more. Currently, the platform supports both the Ethereum and Polygon networks, with Ethereum serving as the default network. The biggest step toward multi-chain tag will be the soon-to-be-added BSC network to the platform.
Platform primary objective Reduced gas costs and scalability in the AMM (Automated Market Maker) exchange will keep its features, such as yield farming and liquidity provision, intact. The speed of the Layer 2 platform and the enormous liquidity of the Ethereum network are two of the most crucial components that DFYN will combine. implement cross-chain bridge to address the issues of price slippage, efficiency, and fragmentation of liquidity across chains.
The process by which DFYN operates is straightforward and began with the development of a decentralised network by connecting with layer 1 and layer 2 blockchains. created a network using the cross-chain liquidity protocol (XCLP) of the router to be able to obtain liquidity from many sources. Without any coding experience, developers can launch their own token on one of the supported chains using a layer 2 launchpad. Low gas prices will be maintained along with the integration of new DeFi project layers and IDO strategies in the expanding market.
DFYN Network Price Prediction
|Month & Year||DFYN Price Prediction|
DFYN Network Overview
|Project name||DFYN Network|
|Based on||Multi-chain decentralized exchange|
|All-time high||$8.75 USD|
|Exchange Platform||DFYN Exchange, Uniswap, MXC|
DFYN IDO Overview
|Raised by||$2,400,000 USD|
|Date of ICO||9th may 2021|
|ICO Price||$0.094 USD|
|Partners||Router, Polygon, hashflow, IG Galaxy, Avalanche, Mantra DAO, umbrella, union, zokyo, dafi, bonded finance, boconomy, Nord finance, frontier, razor, glitch, terra.|
DFYN Token Price Analysis
The DFYN token, a utility token for the DFYN network, is crucial to the ecosystem’s operation. DYFN plays a variety of roles, including those in governance, revenue sharing, and yield farming. The community will be in charge of platform governance, since DFYN token holders are permitted to participate in governance voting that determines future progress. Each transaction will be assessed a 0.3% revenue sharing fee, of which 0.25 percent will go to the liquidity provider and the remaining 1 percent will be utilised for repurchase and burn.
The DFYN token was introduced with IDO and distributed at a cost of $0.094 USD via the polkastarter launchpad. According to CMC data, DFYN reaches an all-time high price after crossing the $8 USD threshold, or about 85 times the price of IDO. Due to the low token supply and potential for consistent price increases, increased network integration will be a primary determinant of price changes for DFYN.
The majority of Dex-based tokens, including uniswap and balancer, are selling for more than $30 or $40 USD. Additionally, this DFYN supports multichain platforms, which leads us to believe that it will soon be able to achieve $30 USD.
We are aware of Uniswap’s position as the leader in DFYN Network DeFi token assets, but the company’s reliance on a single network is generating issues in practically every division. As many platforms are still under development and have several flaws, the community wanted a platform that supported multiple blockchains. The DFYN network, which began with Polygon, will soon include support for Polkadot, Solana, Internet Computer, Binance smart chain, and other platforms. This project’s primary foundation will be the Layer 2 protocol, which will work tirelessly to deliver performance, scalability, affordable gas prices, and more.
Due to the middle layer network’s integration with the polkadot network, DFYN will continue to be blockchain agnostic. Every function offered is 100 percent transparent and fully trustworthy. The code and smart contract will continue to be available as open source, allowing for modification by anyone. It is anticipated that the platform will permanently address the bad user interface, low liquidity, and slow transaction speed issues.