DForce Trade (formerly X-SWAP) is based on a flash trading between various stablecoins, such as USDX, USDT, HUSD, BUSD, USDC, PAX, TUSD, DAI.
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Brief information about the dForce Trade project
One of the goals of this platform - to eliminate slippage by providing the best prices during trading. At the moment, the platform is focused only on stable coins, but in the future, the dForce team promises to include other assets. In addition, the reward plan was increased to half a million dollars.
The team is going on to create and improve its platform in order to attract the attention of new users.
The platform features:
| Currency rate calculation | The exchange rate is based on the price of each asset in a real time. Developers research bids from various sources and use this information to ensure competitiveness. |
| Commission | Currently, developers don’t charge a fee from participants in the dForce Trading platform. |
| Trading limit | The trading limit depends on the liquidity of each asset, without limitation for one transaction. |
Novice users need to sign one transaction twice. Once to activate a traded asset and once to sign a deal.
Dapp application safety
DForce Trade has a smart contract, deployed on the Ethereum core network, with a safety audit, conducted by PeckShield, one of the world's best blockchain safety companies. The full report is available for viewing through the github portal.
On April 19, 2020, Lendf.Me, the dForce network lending protocol, was attacked and approximately $25 million was withdrawn from the contract. They have successfully returned stolen funds, thanks to the efforts of partners, law enforcement agencies, investors, the community and the dForce Trading team.
Exchange safety:
- Working closely with leading auditors around the world and developing a new, rigorous audit process.
- There is a dForce saved asset Fund for users (dSAFU). The creators of dForce decided to allocate 50,000,000 DF tokens as seed capital.
The introduced new risk management standard covers three critical components: code security audit, financial risk management and operational risk management. Therefore, DeFi and CeFi overcome threats and confront hackers together through closer cooperation and better exchange of information. Subscribe to Twitter or join the channel in Telegram to find out more news and discussions on dForce and DeFi.