Dfyn Network

Halal Rating :
Comfortable
Last Price $0.0057 Last updated:
Rank 1972
1D Change 4.35 %
Market Cap $971,440
Circulating supply 171,878,615
Maximum supply 250,000,000

Crypto Overview

Categories
  • Ethereum Ecosystem
  • AMM
  • Algorand Ecosystem
  • Polygon Ecosystem
  • Arbitrum Ecosystem

Overview

Dfyn Network is a multi-chain Automated Market Maker (AMM) exchange that operates on multiple blockchain networks. It was built as a decentralized exchange (DEX) protocol that aims to enable cross-chain token swaps and liquidity provision across different blockchain networks.

Purpose and Utility

The primary purpose of DFYN token is to serve as a governance and utility token within the Dfyn Network ecosystem. Token holders can participate in governance decisions, stake tokens for rewards, and receive trading fee discounts. The token is actively used for its intended purposes within the ecosystem.

Business Model

Dfyn Network operates as a decentralized exchange platform, generating revenue through trading fees. The business model is transparent and based on facilitating token exchanges between users. The protocol does not involve inherently prohibited activities like interest-based lending or gambling.

Platform Development and Adoption

The project shows ongoing development activity with regular updates to its protocol. It has established partnerships with various blockchain networks and maintains active trading volumes across multiple chains. The development team remains engaged in expanding the platform's capabilities and cross-chain functionality.

Token Distribution and Governance

The token distribution includes allocations for team members, early investors, and the community. While detailed vesting information is not readily available, the project maintains transparent communication about token economics and governance mechanisms.

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