Falcon Finance announced significant growth in its synthetic dollar USDf, surpassing the $600 million mark just five weeks after reaching $500 million.
Growth of USDf Total Supply
The total supply of the synthetic dollar USDf has increased to $648 million, accompanied by a TVL of $685 million, representing the total value of crypto assets deposited by users. These assets are backed by a 115% overcollateralization rate, fully verifiable through daily reserve attestations.
Sustained Demand for USDf
Demand for USDf has surged due to the popularity of the Falcon Miles points program and the implementation of transparency measures such as daily proof-of-reserve attestations and quarterly ISAE 3000 assurance reviews by Harris & Trotter LLP. The recent launch of the first on-chain mint using tokenized U.S. Treasuries via Superstate’s USTB strengthened the connection between real-world assets and DeFi liquidity.
Long-term Strategy and Ecosystem Expansion
Falcon Finance has expanded its presence across multiple blockchains through integrations via Axelar and BNB Chain, enhancing capital efficiency across the multi-chain platform. Users can mint USDf by depositing stablecoins or crypto assets, including BTC and ETH, which serve as an overcollateralized stablecoin.
With continued integrations, additional vaults, and the expansion of the Falcon Miles program, Falcon Finance is actively progressing towards its goal of making USDf a cornerstone of the DeFi landscape.
