Chain by chain, chain after chain, t’is the season, chain chain….
Dfyn team is excited to announce the launch of Dfyn Exchange on the Fantom blockchain! The expansion of the Dfyn ecosystem to other blockchains is consistent with our vision for a seamless multi-blockchain world, where users can freely communicate, trade, swap, lend, etc across communities spread across chains.
Dfyn was started with the vision of being a multi-chain DEX. The launch on Fantom will be our first major DEX launch after Polygon. From being the first AMM on Polygon (then Matic) to being one of the world’s top AMM by volume, we have come a long way. Router Protocol — which is a cross-chain messaging project from the Dfyn team, is on track to launch the much-awaited XCLP (Cross Chain Liquidity Protocol) mainnet soon, which will allow seamless bridging of liquidity across EVM/non-EVM and L1 & L2 chains.
XCLP will make it easy for users to select which chains they want to farm on — as they will be able to easily port liquidity across chains.
Please note that Router’s expansion to Fantom is still some weeks away, in the meanwhile, users will have to bridge across using DeFI bridges such as Anyswap which allows $ROUTE and $DFYN movement from Ethereum to Fantom and vice-versa.
What is Fantom?
Fantom is a “Layer 1” blockchain, meaning that it is completely supported by its nodes and utilizes its currency — FTM — to pay for transaction fees and secure the network. Both Fantom and FTM have been exploding in value and TVL over the past few months.
Dfyn will be participating in the FTM incentive program and the majority (or all) of the FTM rewards will be used to drive value and TVL to the DFYN node on Fantom chain as well as for selective token buy-backs.
Transactions on the Fantom network are highly scalable. Costs of a transaction are extremely low, costing as little as $.0000001. It utilizes a proof-of-stake system to secure the chain — an eco-friendly and cost-efficient alternative to proof-of-work used by Ethereum. Fantom’s Opera Network is also fully EVM — compatible, making it easy for dApps to integrate and expand their platforms.
The technology that allows Fantom to be more scalable than its Layer 1 competitors is its utilization of Lachesis — a bespoke Asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism. This mechanism allows Fantom to scale without compromising the security and decentralization of its network. Essentially, Lachesis is an altered Proof-of-Stake model that allows for instant transaction finality — meaning there is no need for block confirmations. Transactions are usually confirmed in 1–2 seconds. aBFT provides an equivalent high level of security and decentralization as traditional Proof of Work networks, while also unleashing the power of scalability.
Our integration into Fantom will begin with the Dfyn exchange and will include several incentivized farms. Dfyn will also soon bring the gasless AMM functionality to Fantom where Fantom users will be able to do AMM transactions in a gasless way and also use other Dfyn associated products like Prediction Markets for $FTM price and Fusion for Fantom.
Though Fantom is the second network for DFYN to launch on, it will not be the last. We plan on continuing our expansion to other networks including Avalanche, Arbitrum, Algorand, and Terra. This list is likely to expand as the DeFi ecosystem continues to mature.
We look forward to collaborating with Fantom to continue to build out and expand the horizons of DeFi.
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network. Dfyn 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.
Discord : https://discord.gg/yjM2fUUHvN
Telegram Announcements: https://t.me/dfynofficial
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Telegram announcements: https://t.me/router_ann