Dfyn is a decentralized network based on DEXes across multiple Layer 1 and Layer 2 blockchains. This will allow Dfyn to join multiple liquidity sources across chains, including the cross-chain liquidity ecosystem being developed by Router Protocol. That information provides us with understanding that the service should be safe for us to swap, stack, deposit, and trade.
We have grouped all useful intel about Dfyn network in the list:
- Dfyn is a multi-chain AMM DEX that was 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.
- It can work with Layer 1 and Layer 2 blockchains.
- There are 71,026,180 DFYN coins in circulation.
- The total supply is 250,000,000 DFYN coins.
- It can proceed transactions lightning-quick.
- The Dfyn platform was launched on the Polygon blockchain in August 2020.
- We have a DFYN token to stack them up.
How does Dfyn work?
- We can trade tokens.
- The system allows users to stack coins.
- We are able to bring our tokens in pools.
- We can buy SBR tokens.
- Staking tokens to get profits from fees, swaps, and commissions.
- We can create a liquidity pool.
- We are allowed to trade with low slippage and minimal fees.
- We can join a market prediction service to make some profits. We can see: a candle, price, and current round.
There are various farms available. There are various farming settings. One of them is when 25% of the DFYN token rewards can be claimed after farming ends. We will be able to claim the rest by 25% every two months. Dual Farming pools let users stake LP tokens to get profits in two different tokens.
We can launch our own farm. In this farming setup 20% of the rewards can be claimed after farming ends. The remaining rewards will be released 20% every 2 months.
What can you buy on Dfyn?
We can swap tokens at the market rate.
We can stake our DFYN and get vDFYN tokens. Every swap on Dfyn contributes 0.05% of the swap value to the vDFYN pool. Staking gives us profits gained from the fees earned by the Dfyn Exchange. vDFYN holders can get superior voting privileges in governance.
We can swap several tokens during a single transaction into DFYN. There’s a slippage mentioned that we can tolerate.
Is Dfyn safe?
As safe as the Polygon blockchain. We have no data that the service was exploited.
Dfyn fees, compatible wallets, and transactions
There’s a high fee of 0.30% for every transaction. We are allowed to work with the following wallets: Metamask, WalletConnect, Coinbase Wallet, Fortmatic, and Portis. So, the list isn’t big. Most likely, the developers will extend this list in the future.
What are the ways to trade on Dfyn?
We can trade DFYN on Coingecko, Coinbase, and others. It’s completely up to us what service to pick to trade DFYN.
The developers are connected with us via Email and Twitter.
Should you buy a Dfyn token?
Dfyn summaryDfyn summary
- The Polygon-based L1 and L2 service
- Staking possibilities are allowed
- We can join liquidity pools
- High commissions
- The service is quite young
- Lack of people’s testimonials
- The system doesn’t have a big pool and staking options