A week of roller coaster emotions has outlined the markets as Bitcoin begins edging back below $600 Billion Market Capitalization. Of course, the blame game has begun in corporate media outlets and it’s all China’s fault as usual. But, if you’ve been here for any length of time then you know exactly how normal all this really is. It’s no surprise how many still buy high and sell low in moments of capitulation such as these. But, if you’ve positioned yourself properly by following the most simple of rules (don’t invest what you can’t afford to lose). This is just another incredible opportunity to get more of the scarcest asset on planet Earth. As promised previously we’re continuing to look outside of the box with our attention on Polygon this week, and the addition of their first AMM DEX built around the Dfyn Network Protocol.
Introduction
Dfyn Network is committed to establishing a thriving multi-chain ecosystem that includes a trustless DEX coupled with an ultra-fast gasless multi-chain AMM. Optimized and overhauled specifically for the multi-blockchain universe and integrated with Router Protocol’s liquidity super mesh, its mission is to onboard the next wave of crypto users into the DeFi world. Launched initially on Polygon, Dfyn will soon expand to BSC, HEC, AVALANCHE, POLKADOT, ALGORAND, and more. Dfyn’s Layer-2 technical launchpad will allow creators to launch their tokens on many chains, start farming and vesting with no-code tools, stake contracts on Dfyn and undertake creatively designed Layer-2 IDO strategies in the absence of high ETH fees. Dfyn’s node-runner platform will enable blockchain evangelists to run their own Dfyn node on the blockchain to earn passive income from fee collection. The exchange is already live on the Polygon Network and has quickly become the fastest-growing DEX on Polygon.
By using Layer-2 blockchains like Polygon (formally Matic) and xDAI on top of Layer-1 blockchains, Dfyn ensures that all transactions are carried out instantly. Dfyn is looking to build a blockchain agnostic ecosystem that works perfectly well with all the underlying blockchain technologies. What this essentially means is that users can use Dfyn’s DEX in collaboration with any blockchain network of their choice. Using Dfyn is completely transparent and users will be able to see what goes on in the base layer every time they interact with the protocol. Eventually, Dfyn’s smart contracts and codebase will be made completely open source. By enabling zero gas transactions and smart order routing, Dfyn will ensure a much better user experience in comparison to current Layer-1 DEXs. With transaction costs being a fraction of the costs in the Ethereum network, and at least 10 times faster. By bridging multiple Layer-1 and Layer-2 blockchains, Dfyn wants to ensure high liquidity in its ecosystem. So in the case of a particular blockchain network that has low reserves of an asset, Dfyn can still ensure the asset’s liquidity for users by securing the desired asset from any one of the several Dfyn nodes deployed on other blockchains.
The four main components that make up Dfyn’s broader architecture are the Nodes present across multiple Layer-1 and Layer-2 blockchains that act as AMMs. Router’s cross-chain liquidity protocol (XCLP) forms a network of bridges between isolated Dfyn nodes present on different…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
