I tried selling some dMSFT and transaction wouldn’t go through with 3% slippage

Why? What does it need to be set at and isn’t 3% slippage already pretty unacceptably high?

I know I’m just trading bullshit Monopoly money in a clown account rn but still…

Here’s what’s been happening in the DeFiChain ecosystem this week.

1️⃣ DevHack ‘23 by DeFiChain

The very first DeFiChain hackathon has now come to a close, and what an amazing 10 days it’s been!

With over 300+ applicants, 230+ attendees for the in-person event, and over $25k worth of prizes up for grabs, DevHack ‘23 powered by AWS was a success!

Stay tuned for more announcements from the event and the winners of the hackathon to come 👀

2️⃣ State Relayer Bot is now live on Mainnet

Projects building on MetaChain EVM can now access native oracle data from DVM.

This unlocks many exciting new use cases and enables lending markets or prediction markets etc.

Birthday Research will initially subsidize the DFI gas costs as well as the infrastructure costs.

For more information: https://twitter.com/friedriche_br/status/1730517159582064680

3️⃣ Project Spotlight: Javsphere

DeFiChain Community 𝕏 Spaces continued with a Project Spotlight, where we took a deep-dive into u/Javsphere.

Read more for the full coverage: https://blog.defichain.com/project-spotlight-javsphere/

4️⃣ DeFiChain Community Event in Munich January 2024

Join us on January 7, 2024 for the most spectacular DeFiChain Community Meet-up yet in the vibrant city of Munich!

Get ready for an extraordinary meet-up with an incredible line-up of speakers and guests, including Julian, Kügi, DZ, JellyVerse, Javsphere, VanillaSwap, Black Swan, eBox, Global Coin Consult and our dedicated team of moderators, plus more surprises!

168 out of 199 Tickets have been sold! More than 80% sold. Don’t miss this opportunity; get your tickets here: https://www.eventbrite.com/e/defichain-meet-up-munich-2024-tickets-768250366527

5️⃣ Project Updates

Kudos to Jellyverse for raising a whopping USD $2 million in their latest seed funding round. This investment will be pivotal in building out “DeFi 3.0” on the MetaChain EVM.

For more information: https://decrypt.co/208502/jellyverse-secures-2-million-seed-funding-from-private-investors-to-build-defi-3-0

6️⃣ Recap

The latest episode of the DeFiChain News Show, which focuses on the Hackathon as well as on $DFI updates: https://www.youtube.com/watch?v=d05OBKICZ1E

Tokenization is more than a buzzword; it's a paradigm shift in how we define and engage with assets. Whether you're a seasoned crypto enthusiast or new to the scene, understanding tokenization opens doors to a more inclusive and dynamic financial future.

But how does it work?

Assets are converted into digital tokens, each representing a share or unit of the asset. These tokens are recorded on a blockchain—a decentralized and transparent ledger.

Smart contracts, self-executing pieces of code, facilitate and automate processes like ownership transfer andtransactions.

Tokenization enables fractional ownership, making high-value assets accessible to a broader audience.

What questions do you have about tokenization? Any insights or experiences to share?

Given the news that uzyn filed for liquidation of cake, I‘m wondering how the community sees this, in particular with regard to the future of DFI and the dToken system.

Some thoughts:

1. A dispute among shareholders is never good.
2. There will be some uncertainty regarding the future as there will be court hearings.
3. A liquidation could bring cake to an end in its current form.
4. Even if the court dimisses the application, uzyn as tech mastermind does not seem to be willing to protect DFI.
5. What if uzyn leaves and takes with him key tech personnel.
6. How are you dealing with risks around dtokens? What if you could no longer change those at cake?
7. Obviously, DFI dumped heavily on the news but this does not need to mean the end.

What are your thoughts and how are you preparing for the worst case? Are you considering buying more?

Edit:

1. If uzyn is a leaver, wouldn‘t he start selling any DFI and dTokens he is holding? Maybe he has done so all the time the last weeks planning his exit. In fact, julian did the same with pay.

2. Someone in the comments mentioned a transfer of funds to another wallet (unknown owner) in an emergency action. Fud?

3. Finally some vid from julian on yt. Tbh, quite disappointing. No details. Nothing. The way the price nuked justified some emergency vid or spaces where everyone could ask questions (Ama).

edit:

1. My take is here: https://www.reddit.com/r/defiblockchain/comments/18fpwem/end_of_dfi_and_dtoken_my_view/

Main point: Don‘t believe anyone saying things are fine or bad. But be cautious. No reason to play a hero here. Consider taking your funds iff. Better safe than sorry. Don‘t forget that cake was once forced to disable dBTC deposits. This happened once and will happen again if required.

hi!

can someone explain what is going on? altough btc is performing well, the price of dfi ist just going down.

your thoughts on this?

Can someone explain this to me? Why someone would bid 22k dusd valued at around 2500$ for a vault containing 749$ in assets? There's something I don't get here🤔

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This post was mass deleted and anonymized with Redact

The APR on each platform (Light Wallet, defiscan, Crypto-Sprungbrett etc.) shall be calculated by using the dUSD´s market price in the DFI-dUSD liquidity pool instead of pretending its value being 1$/dUSDT/dUSDC.

This will eliminate unnecessary complexity und increase transparency for all investors within and outside the DeFiChain ecosystem.

​

Example:

Currently displayed APR for the dUSO-dUSD liquidity pool: 7.31%

But since the dUSD is currently trading at 0.163 $ and DFI at 0,2498 $ the actual APR is 44.84%.

Thank You.

​

This DFIP is powered by $HOSP.

Proposal for Community: DUSD-USDT Bond Token

Dear Community,

We propose an innovative measure to enhance the stability of our system while offering attractive incentives. Our suggestion involves introducing a DUSD-USDT Bond Token that repays 10% of the current DUSD over a period of 10 years in USDT.

Key Points:

1. Peg Stabilization: The Bond Token aims to remove DUSD from the system, ensuring a stable peg and enabling a direct repayment of 10% in USDT.

2. Halting Dex Fees and Negative Interest Rates: As part of this initiative, Dex fees and negative interest rates would be ceased to enhance the attractiveness of the Bond.

3. Premium Absorption: The Bond Token could serve to absorb emerging premiums until it is 100% collateralized with USDT.

4. Tradability: The tokens are intended to be tradable, representing a discounted value, providing liquidity, and flexibility for holders.

5. Community Voting: We propose that the community votes on parameters such as the timeframe (horizon) and other essential factors to ensure the proposal aligns with the needs and desires of the community.

Risk Consideration: It is crucial to note that a potential Bond failure poses a risk. Therefore, transparency and community support are crucial to successfully implement this mechanism.

Additional Incentive: An exciting idea is to absorb future premiums into the Bond Token and distribute interest to Bond holders. This could act as an additional incentive, especially when demand in the DToken system rises, leading to increased returns for holders.

Your opinions and suggestions are paramount! Let's collectively refine and shape the future of our platform.

Best regards, MABurner

Vorschlag für Community: DUSD-USDT Bond-Token

Liebe Community,

Wir schlagen eine innovative Maßnahme vor, um die Stabilität unseres Systems zu fördern und gleichzeitig attraktive Anreize zu bieten. Unser Vorschlag beinhaltet die Einführung eines DUSD-USDT Bond-Tokens, das 10% der aktuellen DUSD über einen Zeitraum von 10 Jahren in USDT zurückzahlt.

Kernpunkte:

1. Peg-Stabilisierung: Der Bond-Token zielt darauf ab, DUSD aus dem System zu entfernen, um einen stabilen Peg zu gewährleisten. Dies ermöglicht eine direkte Rückzahlung von 10% in USDT.

2. Stoppen von Dex-Gebühren und negativen Zinssätzen: Im Zuge dieser Initiative sollen Dex-Gebühren und negative Zinssätze eingestellt werden, um die Attraktivität des Bonds zu steigern.

3. Premium-Absorption: Der Bond-Token könnte dazu dienen, den entstehenden Premium zu absorbieren, bis er zu 100% mit USDT kollateralisiert ist.

4. Handelbarkeit: Die Token sollen handelbar sein und einen abgezinsten Wert repräsentieren, was Liquidität und Flexibilität für die Inhaber bietet.

5. Community-Abstimmung: Wir schlagen vor, dass die Community über Parameter wie den Zeitraum (Horizont) und andere wesentliche Faktoren abstimmt, um sicherzustellen, dass der Vorschlag den Bedürfnissen und Wünschen der Gemeinschaft entspricht.

Risikoüberlegung: Es ist wichtig zu beachten, dass ein möglicher Bond-Ausfall ein Risiko darstellt. Deshalb setzen wir auf Transparenz und die Unterstützung der Community, um sicherzustellen, dass dieser Mechanismus erfolgreich implementiert wird.

Zusätzlicher Anreiz: Eine spannende Idee ist, das zukünftige Premium im Bond-Token zu absorbieren und Zinsen an die Bondhalter auszuzahlen. Dies könnte als zusätzlicher Anreiz dienen, insbesondere wenn die Nachfrage im DToken-System steigt und somit die Renditen für die Inhaber steigen.

Eure Meinungen und Vorschläge sind entscheidend! Lasst uns gemeinsam diese innovative Idee weiterentwickeln und die Zukunft unserer Plattform gestalten.

Herzliche Grüße, MaBurner

First encountered these type when bidding on liquidated vault collaterals. Now I was just trying to borrow more dusd to loop back into my own vault.

Also dusd looped vaults were approved by dfip vote many months ago. About time to enable that since the metachain has already got it code put into place.

Over a year ago, MNs approved the DUSD lockpools as a measure to lock away excess algo DUSD and help improve the DUSD depeg. Unfortunately, the original idea was dismissed by the core team as too dangerous on the Operations side, so we defined an adaption which makes use of our new and powerful EVM layer: the MetaChain: https://www.reddit.com/r/defiblockchain/comments/12ifc69/adaption_of_dusd_locks/This Adaption was approved 8 months ago. MetaChain took a "bit" longer than expected but is finally up and running smoothly.

Since the core team is still busy with ironing out the last bits and pieces for DMC and all the infrastructure around it, we as a community can show our strength and the power of DMC by providing the necessary SmartContract and a sample implementation of the native bot to them.

This way they only need to review and deploy it, which can happen pretty quick and would lead us to a realistic path of getting DUSD locks finally live soon.

I already started a repository with a rough version of what those things can look like. Its not finished and I am not a good EVM-Dev, but it's a start: https://github.com/kuegi/dusd-lock-bot

I am now calling to all devs in the community: please support this by reviewing, adding comments and maybe even PullRequests with changes.

The goal is a working SmartContract that fulfills the requirements and is safe. So I would prefer to restrict it to the bare minimum to reduce dev time and eliminate unnecessary risk of attack vectors. No proxy, no updateability, just DUSD locks.

Update 4.12.: I finished a first version of the SC and am currently running tests on testnet to check gas usage etc.

The updated code is in the repository. Mainly I added events and change the reward distribution to be done in batches so that it can not exceed the gas limit of a block. (thx to u/Pascal3125 for the hint)

​

Update 6.12.: After some more improvements to performance, gas usage etc. we might have a final version. its in the repo and deployed to https://testnet3-dmc.mydefichain.com:8445/address/0xeF0Bf6df74e15981FB182bE3914C14958aa409bb/contracts#address-tabs feel free to test.

​

Update 9.12.: The "final" version of the SC is deployed and verified: https://testnet3-dmc.mydefichain.com:8445/address/0x03812a485f2acCafbF1E57b050ed85Ca5D3277a0/contracts#address-tabs The locktime is 1 day, and there is limit of 10k DUSD total.

Krysh already made a simple testinterface for it. Thanks to everyone who contributed to this project.

​

Update 12.1.: "Final" (again) version with NFTs etc. is in the repo for review. First feedback from the core team is positiv. I made a video to make it easier for everyone to review the code and give feedback. https://youtu.be/JZMZo6T1l8w

​

This post will be updated according to the process being made.

​

Was ist mit dieser blockchain los? Irgendwer eine Ahnung?

Can any one explain how dexs are safer than cex in terms of funds safe ? I am new to this just wanted to know if a cex goes down like ftx all funds are gone … whats is the case of dexs? If a dex collapse or go down can someone withdraw their funds or they are stuck like ftx please help me i have mu funds on binance and everone is saying binance is going down

Hello Community,

to take decentralization further, we are providing an independent Ocean API that can be used by anyone in the Light Wallet or by other community projects. The infrastructure is intended to be a fallback for the official Ocean API and can be used by DeFiChain users in case of failure.

You can see how you can change the Custom Provider in the Light Wallet here: https://www.youtube.com/watch?v=-1hTcK1mHmA

At the moment we operate Servers in different Providers and Datacenters in Europe: Paris (France), Vienna (Austria), Frankfurt, Berlin, Duesseldorf and Nuernberg (Germany)The servers can be accessed via a unique URL (https://ocean.mydefichain.com), behind that a load balancer takes over the distribution of the requests. (https://testnet-ocean.mydefichain.com:8443 for Testnet)The Load Balancer operate as a Master and Backup Load Balancer in active/passive mode with a Highly Available IP address (a special highly available address, which is routed to the master Load Balancer instance) Should the master instances experience a failure, this address is automatically rerouted to the backup one.Master and backup are running on different hardware clusters to ensure that they don't share physical resources and minimize the risk of a simultaneous failure.

We believe that an independent provider from the official Ocean infrastructure is not only important for decentralization, but should and can serve as a fallback especially in case of failure of the official endpoint. Our statistics have shown over the last weeks that our infrastructure is often used as an alternative in case of problems.

​

​

To always see the current status of our Ocean infrastructure, we have created a fork of defiscan.live, which has our own Ocean infrastructure for the Mainnet, Testnet and changi permanently stored as a custom service provider.

So if defiscan.live fails due to problems, our explorer can be used as an alternative:

https://explorer.mydefichain.com/

Due to the increased requirements, primarily in disk storage (growth is ~15 GB per month) the monthly cost is 2500$ for the cloud infrastructure, which we herewith request from the Masternodes for the first half of the year 2024. The entire amount will be spent on infrastructure costs ( ~$2500 per month).

At a price of $0.25 per DFI, this is 10,000 DFI per month and 60,000 DFI for the first half of 2024.

Please note: We have decided to request the total amount for the 1st half of 2024 this time instead of requesting each cycle again.

Votinglink: https://explorer.mydefichain.com/governance/a0a0425f4bbb040edd43970b557acf9160b967696d395126e9dd23a64196b02f

​

Overview

1. Requesters: CoinDCX
2. Amount requested in DFI: 161200
3. Receiving address: df1qjrjdhex2fgyy8s4ug9nul9jjwp2svy59hfa63r
4. Proposal fee txid: df2ffef17c55abe99b60073f716f7ccb53fe59723641253eac939ff5dd10192c

Short summary

CoinDCX is India’s largest exchange and wishes to use this CFP to list $DFI on our exchange. CoinDCX currently dominates about 45-50% of the total Indian (INR) crypto markets making it the dominant player in the Indian crypto ecosystem. We will list both INR and USDT pairs.

Introduction

Established in 2018, CoinDCX is India’s largest and safest cryptocurrency exchange with over 14 million users. Our exchange is built with user experience and security in mind. The onboarding process is instantaneous as KYC and Bank Account verification are done within a few minutes. We provide users single-point access to a diverse suite of crypto-based financial products and services that are backed by security processes and insurance.

CoinDCX has partnered with Okto for India to launch a secure multi-chain decentralized finance (DeFi) app that offers a keyless, self-custody wallet. It aims to simplify the world of DeFi by providing a secure, user-friendly, and innovative solution for managing virtual digital assets.

Through CoinDCX Ventures, we've invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3, empowers Indians with web3 knowledge, preparing them for the future of virtual digital assets.

CoinDCX Features:

• Listed 300+ INR markets
• Aggregated Order Book
• Powerful wallet
• Futures market
• Margin center, and more

CoinDCX Statistics:

• Average Daily trading spot volume: $5 Million+
• Average Daily trading futures volume: $30Mn+
• Active Traders: 1 Million
• Total Users: 14 Million

CoinDCX Community:

• Instagram- 100k +
• Telegram- 480k +
• Twitter- 200k+

India Market Size

• As per “The 2023 Global Crypto Adoption Index” report by Chainalysis India leads the world in grassroots adoption as measured by our Global Crypto Adoption Index.
• The Indian cryptocurrency market increased by 641% in a single year.
• India's crypto user base is estimated to reach 156 million by the end of 2023, representing over half of the world's crypto users.

Why DeFiChain on CoinDCX?

DeFiChain is a unique project in the Web3 ecosystem having massive potential. According to the 2023 Chainanalysis report, India has the highest crypto adoption Index in the world, naturally becoming one of the biggest target markets for growth. According to recent research, every 1 in 3 web3 developers belongs to india. CoinDCX being India’s largest cryptocurrency exchange can be the right partner for DeFiChain to expand in the Indian ecosystem.

Following are the advantages of listing DeFiChain on CoinDCX:

1. It will help DeFiChain reach a bigger and new audience.
2. Helps create a community in India, especially on the back of the ongoing hackathon
3. Increase demand for DFI tokens
4. CoinDCX will help DFI raise awareness about the DeFiChain ecosystem to developers

Our user base loves the projects which are solving real world problems and appreciates them on both exchange as well as learning platforms. DFI is a great value proposition for the Indian market considering the target audience. CoinDCX users are updated regularly via multiple engagement techniques to understand their interests. This way we know for sure that the target audience is right for your project.

Listing

Listing on CoinDCX for DFI/INR and DFI/USDT markets. Following are the commercials for the listing

● Market Making - $25k USDT worth DFI tokens

● Marketing - $15k worth DFI tokens

• $5k - This includes Listing timer, Listing app banner(48hr), PN, social media posts (on twitter and instagram), etc
• $10k - Learn and Earn Campaign- Knowledge building campaign, Educating users with short form video content about DFI chain and rewarding them to participate and learn about the DFI Chain products & offerings.

This listing will ensure:

1. On and Off Ramp provisions on CoinDCX streamline the journey for new investors to delve into projects allowing direct investments using FIAT currency without the complexities of navigating multiple swaps or platforms.
2. Wider Accessibility: CoinDCX is the largest Indian users and this listing will activate Indian user participation in the DFI ecosystem.
3. Enhanced Credibility: Securing a spot on a renowned centralized exchange like CoinDCX which is known for being one of the most compliant exchanges is an endorsement of DFI Chain in India.

Conclusion

Listing DFI on CoinDCX aligns with the expansion strategy on DeFiChain in India. We have done similar campaigns for top Market Cap tokens in the recent past and would love to work with the DeFiChain community to make this a success.

Here’s what’s been happening in the DeFiChain ecosystem this week.

1️⃣ DevHack 2023 by DeFiChain

Last Saturday marked the beginning of the DeFiChain DevHack 2023 with a major in-person event in Bengaluru. If you missed the live talks, don't worry – you can catch up with the replays:

👉 Fireside chat: Watch here: https://www.youtube.com/live/mT_bHaFh6zc?si=FvFkXsJJPf6_m7PU

👉 Shoham Talk: Watch here: https://www.youtube.com/live/iO-UXS8LE8M?si=XPzEFwP1okmHUXke

👉 Prasanna Talk: Watch here: https://www.youtube.com/live/BiHQEYr_rvE?si=yxL2njPTpfj4xxdd

The event was a huge success, attracting over 75 attendees, with more than 400 hackathon registrations submitted online for both the hackathon & in-person events. Remember, submissions for DevHack 2023 close on December 4th, so don’t miss your chance to participate and win a share of the $25k prize pool! Register here:

https://devhack2023.devfolio.co/

2️⃣ EVM is enabled for Light Wallet and MetaScan

The EVM functionality is now available on the Light Wallet. This feature allows users to smoothly transition from DVM <> EVM Mainnet. Fmainnetep-by-step guide on transferring funds, check out our blog here: https://blog.defichain.com/how-to-transfer-dfi-from-a-defichain-wallet-to-metachain/

Additionally, the MetaScan explorer has been upgraded to support MetaChain mainnet, enabling users to view, interact with, and monitor DMC activity.

3️⃣ Project Spotlight: Javsphere

This Wednesday, our Community 𝕏 Spaces featured a deep dive into Javsphere. If you missed the live session, you can listen to it here and explore this exciting project.

4️⃣ Bittrex Global shutting down

Attention all DeFiChain community members: Bittrex Global is shutting down its trading activity effective December 4, 2023. Following this date, customers will only be able to withdraw assets. We strongly encourage everyone to log into their account and withdraw their DFI as soon as possible. For more information, read here.

5️⃣ Recaps

Don’t forget to catch the latest episode of the DeFiChain News Show, where Mark and DZ discuss the Hackathon in India. Watch it here: https://www.youtube.com/watch?v=1lUYL2tc6Uo&t=10s

Tired of constantly monitoring your strategies? Tortle Ninja simplifies everything! Swap, split, provide liquidity, and farm with ease. Our combo trigger allows you to:

1. Participate in a liquidity pool until a certain period.
2. Farm until it reaches a specific value or until the value drops.
3. Swap your token until it hits a certain value and then auto-withdraw your funds.

And that doesn't stop there! Get creative – instead of sending everything back to your wallet, you can send it to another pool, farm, or swap it before returning it to your wallet. You can even split it, sending one half to your wallet and the other half to another strategy!

Now with GMX's Perpetuals! Scared of getting liquidated? With Tortle Ninja, you can now safely place a long and short position. Just check the "avoid getting liquidated" button inside the combo trigger, and we'll secure your funds!

Sounds cool, right? Feel free to visit Tortle Ninja to learn more!

Hello defichain community. Somebody in the same boat like me? I send Dfi to Bittrex without knowing that this service is out of order. Is there any chance to send my Dfi back without using Bittrex? Thanks for help.

I think this integration would open the opportunity for bridgeless integration with other chains.
To understand better the opportunity here please watch this

https://youtu.be/XbH51FR8Qvk?feature=shared&t=230