DIP058 - The Rebranding of dForce Lending to Unitus Finance

Summary

This proposal suggests rebranding dForce Lending to Unitus Finance, along with the creation of a separate portal, domain, and, most importantly, a brand new tokenomics designed to enhance user participation and adoption.

Background

As outlined in DIP057, dForce has a strategic plan to introduce multiple financial primitives with a broader range of tokens.

To initiate this process, we propose the spin-off of dForce Lending from dForce's DeFi ecosystem and rebrand it as Unitus Finance. Unitus Finance will retain all the existing features and smart contracts of dForce Lending, representing a significant milestone by becoming the first platform to offer native dForce USX liquidity across multiple Layer 1 and Layer 2 networks.

Initially governed by DF token holders, Unitus Finance will introduce its native token and tokenomics to promote farming activities and enable governance decision-making through voting.

The launch of Unitus Finance will occur in two stages:

1. Guided Launch: This phase will include all the functionalities inherited from dForce Lending, such as the global pool and dynamic interest rates.
2. Cruise Launch: This stage, which is on the horizon, will introduce more advanced and exciting features. It will provide users with access to a comprehensive suite of DeFi functions, all while optimizing capital efficiency.

Motivation

The dForce X Plan, starting from the rebranding of dForce Lending to Unitus Finance, aims to improve overall efficiency and rebalance interests among key stakeholders in different sectors.

UTS Token

Unitus Finance will introduce the UTS (Unitus Token) as the governance token, featuring a total supply of 1,000,000,000 UTS tokens, distributed as follows:

• 15% for DF stakers
• 15% for the Unitus Core Team
• 25% for the Unitus Treasury
• 45% for liquidity mining, including deposit and borrow within Unitus, as well as bonded LP tokens like UTS/DF and UTS/USX

Click here to view more information about the proposed tokenomics for Unitus Finance.

Specification

1. Unitus Finance will inherit all of dForce's lending features and smart contracts.
2. Liquidity mining rewards will transition from DF tokens to UTS tokens on Unitus Finance following the Guided Launch.
3. DF tokens will continue to serve as the governance token for dForce, allowing participation in ecosystem governance and capturing value from ecosystem projects through staking.
4. DF token will be paired with UTS token, and a portion of dForce's treasury income will be allocated to acquire DF/USX liquidity.
5. UTS tokens will receive liquidity support from DF, and DF's buyback initiatives will also include UTS tokens.
6. Unitus treasury funds will be allocated for two primary purposes: minting USX and acquiring DF/UTS liquidity in the market.