Dfyn

Rank

#31

Chain

Polygon (MATIC)

Service

Dex

Social links

Platform Token

Dfyn Network (DFYN)

Price

$0.02

-1.5 %

Market Cap

$2,506,764

-0.7 %

24H Volume

$171,883

dfyn.network

Publish: 10/2020

Team is public

No incidents

Audits: 1

Dfyn is a decentralized application founded in 2020. The project team is public. In the decentralized finance space, this project has passed 1 audit. It has not been involved in any incidents. Dfyn runs on top of the Polygon blockchain for fast and secure transactions with crypto assets. The project has its platform token called Dfyn Network. The trading volume for 24 hours is $171,883.

Users have the ability to contribute their cryptocurrencies to pools which can then be accessed by other users, where providers earn interest on the assets that they bring in. The DeFi Watch platform can be used as a tracker to find the best project pool with high swap fees and yield farming rewards. More details about Dfyn are available at dfyn.network.

Liquidity

Liquidity Pools

Volume

Team And Investors

Dfyn Liquidity

$17,973,692

+0.8 %

Active users

312

+6.5 %

What is Dfyn Network (DFYN)?

Dfyn.network is a fully decentralized DeFi protocol which uses Automated Market Makers (AMMs) instead to enable token swaps. Being a multi-chain solution, it is currently running on top of Polygon and OKexChain. The platform tokens are called DFYN, which are used for liquidity pools.

Who are the founders of Dfyn Network (DFYN)?

Dfyn Network was founded by Ramani Ramachandran (also serves as current CEO) and Priyeshu Garg (he handles Product & Communications for Dfyn Network) in 2020. Both had a significant prior expertise to the world of cryptocurrency: Ramani was working on the decentralized exchanges back in 2015, while Priyeshu had been working full-time with cryptocurrencies as a software engineer since 2018. Another co-founder is Chandan Choudhuri, who has years of trading and financial advising experience, a Head of Strategy at Bitpolo, leading Indian crypto exchange. The rest of the team mostly includes software engineers and product managers with experience in DeFi. This is why many investors trust the company. The list of the partners include Bonded Finance, Avalanche, Terra Money, Algorand, Polytrade, Poolz, Chain Link and many others.

What makes Dfyn Network (DFYN) unique?

The protocol is multi-chain, operating on Polygon and OKexChain with the possibilities to expand. It’s a gasless DEX, meaning there are no transaction fees for the users. This is achieved through a partnership with Biconomy (BICO, a protocol for seamless connection of DeFi users) and integration of meta-transactions (a transaction that includes another one). The solution called Router is used as an overarching liquidity mesh (or a so-called “super-mesh”) of the Dfyn nodes that enables multi-chain capabilities. It uses the XCLP (Cross-chain Liquidity Protocol) system. It also offers optimally-priced cross-chain token swaps. The protocol includes a liquidity mining program that will motivate the users to stake liquidity on the bridge The technical capabilities will allow Dfyn Network to offer a unique layer-2 launchpad service: this will provide a possibility to launch tokens across multiple chains and undertake complex strategies avoiding high gas fees common on the Ethereum blockchain. The transaction speed is described as “ultra-fast”. Prediction markets are also featured.