DeFiChain founder Dr. Julian Hosp has put ahead a strategic proposal to spice up the worth of the platform’s native token, DFI, and drive substantial demand of over $1 million.
The proposal, known as the DFIP (DeFi Enchancment Proposal), revolves round bolstering the utility of DFI whereas concurrently producing shopping for stress. It includes a number of strategic steps, every meticulously designed to propel the DFI token into larger demand brackets.
Proposal for Emergency DFIP on @defichain:
Wish to suggest a DFIP to help the $DFI worth by including utility and shopping for stress on the identical time.
How?
1. Wrap all stakable cryptos accessible on @bake_io ( $DOT, $SOL, $MATIC, and extra which can be nonetheless coming) and add them to the…— Dr. Julian Hosp (@julianhosp) August 14, 2023
Firstly, Dr. Hosp suggests the wrapping of assorted stakable cryptocurrencies, similar to DOT, SOL, and MATIC, into the DeFiChain decentralized trade. He famous no further rewards can be given however the usual 0.2% swap payment. Nonetheless, the founder means that the inclusion of those tokens would generate potential demand for DFI by tapping into the intensive person bases of those cash.
One other essential facet of the proposal includes staking 90% of distinguished cryptocurrencies, similar to ETH, DOT, SOL, and MATIC, resulting in rewards totaling round $1 million. Half of those rewards can be utilized to buy and burn DFI tokens, driving up their shortage and worth. The remaining 50% of the rewards can be reinvested into the DEX’s particular person swimming pools, incentivizing elevated liquidity and Whole Worth Locked (TVL).
Moreover, Dr. Hosp’s plan includes in search of a risk-free yield of near 4% on 90% of backed USDT and USDC by way of tokenized bonds. Just like the staking technique, the generated rewards from this initiative can be used to purchase again and burn DFI tokens, contributing to potential worth appreciation. Whereas the proposal acknowledges the potential of replicating these methods for different cryptocurrencies like BTC, it prioritizes sustaining a “zero threat” method. He asserts that the collective influence of the primary three steps would collectively funnel greater than $1 million in demand towards the DFI worth, all with negligible price or draw back.
