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Interview with Multicoin Capital and dForce: against the trend to get financing, what did dForce do right?

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DForce is a "super app" that is very much in line with Asian usage habits.

On April 15, dForce foundation, a decentralized financial platform, announced the completion of 1.5 million us dollars in strategic financing, led by Multicoin Capital, a top investment institution, followed by huoyuan Capital and China merchants international.

This is the first time that Multicoin Capital has invested in a decentralized financial platform and the second round of financing for dForce. What's so great about dForce being able to secure strategic investments from three top institutions in this tough market?

BlockBeats spoke to Mable Jiang, executive director of Multicoin Capital, and Yang mindao, founder of dForce, about their views on the voice of the large tokens, the valuation of the Defi platform, and the future of the platform.

Mable points out several advantages of dForce from the perspective of an investment institution. Firstly, dForce is an application that conforms to the usage habits of Asian people, that is, it is a single platform with multiple protocols. At the same time, after the occurrence of "312", the growth of stable currency loan volume kept the growth momentum of dForce's loan volume. These are all advantages of dForce.

Later, Yang mindao said that dForce would control the allocation of DF tokens to prevent the decision of a single institution from having too much influence and form a benign governance structure. Meanwhile, dForce is about to announce three new agreements, as well as other stable assets.

Mable Jiang, executive director of Multicoin Capital

Rhythm BlockBeats:Could you please introduce the form of this investment?

Mable:We invest in a flat nt dollar DF token.

Rhythm BlockBeats:I remember you were always optimistic about open finance, can you understand why? DForce supports stable currency more than other platforms. Is this an advantage of dForce? DForce's current total locked-in volume ranks 6th in the lending platform. Why did you choose dForce?

Mable:First of all, dForce is a "super application" that is very consistent with the usage habits of Asian people, that is, there are various agreements under the same roof, and the value capture of these agreements can finally come to the target of our investment, namely DF flat Taiwan dollar. This is something that many projects in open finance cannot do at present: some of the value capture that can be invested in many projects is difficult to verify, or some that should be used in the general economy are not used and thus have no way to incentivize users sufficiently.

Secondly, dForce has a profound understanding of the saying "black cat, white cat, good cat if it catches mice". They design their products with the needs of the real public in mind, not the ideology of highground or crypto. " Since 3.12 ", we can clearly see some platform loans declined, while lendf. Me has always been a good momentum of growth, largely due to their stable currency amount of lending growth. Now choose to use decentralized lending agreement lending are have real demand of borrowing for the person (arbitrage we also calculate inside, this is a very important part of ecological inside).

The same considerations apply to the introduction of managed HBTC and imBTC: for many Asian users, WBTC may not be the best option because there is no central institution to endorse it. My colleague sheng tong wrote that recentlyTrust map& have spent Centralised custody is classed as the lowest level of credibility, but this does not necessarily apply to many in the country, who prefer to trust institutions that are "too big to fail". At such times, HBTC is the best choice, because there is Huobi's endorsement behind it. For dForce, this is about bringing the borrowers in the BTC ecosystem into the ethereum decentralized financial ecosystem. This is very significant.

DForce also attaches great importance to the cooperation with some centralized financial institutions in the ecology, truly from the perspective of product implementation, let more people use the centralized agreement without realizing it, this is what open finance should look like. The front end can be a convenient flow gateway, but the bottom flow is supported by very low-cost decentralized protocols.

Rhythm BlockBeats:What are your expectations for the future of dForce?

Mable:The future of open finance will have a global pool of liquidity, but the front end will still need to be adapted and designed according to the usage habits of people in different regions. DForce grew out of this vision. What they will offer users at the bottom will be global mobility, but the product will be designed as much as possible to fit the usage habits of one region first, and then gradually based in China and go global.

This is the first time that Multicoin has invested in a decentralized financial agreement, and it's also in the Chinese market that we value very much, and dForce is the undisputed leader in this area (both in China and around the world), so it's a very important investment in any way. We were very optimistic about open finance but focused on the exchange direction, and we all hope to use our own resources to better develop in the areas and areas we are familiar with.

Yang mindao, founder of dForce

Rhythm BlockBeats:This time, the investment institution received DF token, which actually reminds people of Steemit and sun yuchen. There is also a whale on Maker to manage token. Does this dForce have a good solution?

Yang Min way:We don't release many tokens in each round, and the investors are all long-term strategic investors, and we care about their long-term contribution to the dForce ecosystem. This time, the institutional investors are not only the crypto investment institution of the United States, which is very influential in the long-term currency circle, but also China merchants international, a model of financial innovation in China, and the largest exchange in China. In the allocation of tokens, we will control the proportion of a single institution to avoid the problem that the decision of a single institution has too much influence. We believe in the gradual decentralized governance model, and in the future, there will be incentive tokens from the community to introduce more community power, forming a good governance structure, and no top10a will have a decisive impact on our governance.

Rhythm BlockBeats:How do you value a decentralized financial platform?

Yang Min way:Decentralised financial markets are still very early, but the potential is enormous. Because of the nature of the global market for decentralised finance, which is completely independent of national boundaries, culture and religion, the market is bigger than traditional finance and has more network effects than the platforms of the mobile Internet era.

Rhythm BlockBeats:Future plans for dForce?

Yang Min way:DForce is committed to creating a unified global open financial agreement matrix. We have now released the asset agreement (USDx), loan agreement and transaction agreement. In just four months, lendf.me has achieved the largest legal currency stable currency loan agreement in the world. We will soon release three protocols: the efficient and stable asset swap protocol, the interest-bearing asset dToken, and the system interest USR protocol for the USDx; Other stable assets will also be released this year; In addition, this year's focus is on trading, leverage and derivativies-related trading agreements.