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HomeCOINSWhat Is Dopple Finance (DOPX)? Complete Guide Review About...

What Is Dopple Finance (DOPX)? Complete Guide Review About Dopple Finance.

What Is Dopple Finance (DOPX)?

Dopple Finance offer a product suite that fulfills the needs of the investors both in and out of the DeFi ecosystem. Dopple Finance is a Stablecoin DeFi ecosystem on the Binance Smart Chain. Our main product is a decentralized stablecoin exchange, which allows users to efficiently swap stablecoins and pegged assets at the best rate.

Twindex is a decentralized exchange that enables the creation and trading of Synthetic Assets, pegged to real-world prices in the most accessible way on the Binance Smart Chain. KUSD is the ecosystem’s native stablecoin using the “Fractional-Algorithmic” algorithm that is deployed on both Dopple Finance and Twindex.

Dopple Finance Storage Key Points

Coin BasicInformation
Coin NameDopple Finance
Short NameDOPX
Circulating Supply59,330,589.00 DOPX
Total Supply62,370,076
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

What is Dopple Finance?

Dopple Finance is a Stablecoin DeFi ecosystem on the Binance Smart Chain. Your main product is a decentralized stablecoin exchange, which allows users to efficiently swap stablecoins and pegged assets at the best rate. Dopple Finance currently supports the following stablecoins. BUSD, USDT, DAI, USDC, UST, TUSD, USDN, DOLLY, KUSD.

Liquidity Providers earn trading fees in stablecoins by supplying funds to the underlying liquidity pools. Liquidity Providers can also earn Dopple tokens as additional rewards by farming LP tokens or by staking Dopple tokens.

The Problem

Trading between stablecoins and assets that are pegged to the same value, such as 1 USD, should be as simple as exchanging 1–1. The issue is that trading between these types of assets can be expensive and inefficient, resulting in lost capital due to high slippage and transaction fees.

The Solution

Dopple allows users to efficiently swap stablecoins and pegged assets on the Binance Smart Chain, by using a StableSwap algorithm that is specifically designed for optimized swapping between stablecoins, with minimal slippage and low transaction fees. When you swap stablecoins on Dopple finance you only pay a 0.045% trading fee (compared to 0.25% on PancakeSwap), which is broken down as follows:

  • 0.018% – Redistributed to liquidity providers.
  • 0.027% – Sent to the Dopple treasury.

Earn DOPX with your LP tokens

When you add your stablecoins to a liquidity pool, you will receive Liquidity Pool (LP) tokens. You can use these LP tokens to earn a yield on the DOPX farms, while still earning a trading fee reward from providing liquidity. LP tokens can be withdrawn at any time however they must be staked to earn DOPX.

DOPX Staking

Once you have a balance of DOP within your wallet, either by earning it through farming or purchasing it on Twindex, you can stake your DOPX tokens to earn even more DOPX.

$DOPX – Dopple Exchange Token

The Dopple Finance token is used as a utility token that is required to mint KUSD tokens. The DOPX token accrues its value by its requirement to collateralize KUSD. As KUSD usages grow stably, the Collateral Ratio will decrease, hence consuming even more DOPX to mint more tokens. This in turn decreases the circulating supply of DOPX and drives its price up. DOP holders, DOP-BNB LPs farmers, and stablecoin LPs except DOLLY LPs farmers can start migrating their assets to new farm pools from Friday 13 August 2021 onwards.

Emission Rate

Migrated farm pools will yield DOPX as the reward. The emission rate will gradually increase to 3/block once Phase 2 ends (Emission rate of DOP from legacy farms + DOPX from new farms will equal to 3). Kelly USD (KUSD) is a fractional-algorithmic Dopple Finance partially backed by USDC (a stablecoin) and DOPX (a utility token). The token is partially backed by USDC that represents its value and is also backed by DOPX which increases its utility. The ratio between the stablecoin and the utility token is dynamic and adjusts according to the market. This ratio is called the Collateral Ratio.

This fractional-algorithmic token combines both advantages of asset-backed stablecoins and algorithmic stablecoins together. Unlike fiat currency, KUSD has its value backed by the collateral while maximizing its capital efficiency that reduces the required collateral as much as possible. This is where algorithmic stablecoin is good at – creating value without having to have backed assets.

To keep the KUSD price at $1 (1 US Dollar), they present several mechanisms to help keep the price on the peg. Anyone can make a profit when the price is off the peg by minting and redemption. As the ratio changes, anyone is also incentivized to keep the backed assets correlated to the Collateral Ratio with buybacks and re-collateralization.

Utility

The KUSD token will be utilized in a lot of ways. Initially, KUSD can be used for stablecoin farming like other stablecoins. Soon, KUSD will be used as the main currency on Twindex.com, where synthetic assets are traded. Increasing the adoption of KUSD will also help with the price of DOPX tokens, as discussed in the Dopple Finance token.

Investments

To upgrade from the current “DOLLY” token, we also make adjustments that allow the stablecoin collateral part to be utilized and to create revenue for the platform by investing a certain amount of the collateralized stablecoins to trustworthy stablecoin investment platforms such as Venus Protocol.

Safeguards

By investing in third-party platforms, there is a risk of attacks on the platform Dopple Finance invested in. At times, there might be high demand for redeeming KUSD tokens. The investment might be withdrawn to make collateral ready. Apart from that, some amount of KUSD mint and redeem fees will be stored in the reserve to make sure that there will be a sufficient amount to redeem. In addition, they also have the circuit-breaking trigger that we could use upon careful discretion at an appropriate time to prevent a bank run, which would harm the entire ecosystem.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .