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What is DFYN

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1. What is DFYN?

Introduction to DFYN Cryptocurrency

DFYN is a community-governed automated market maker (AMM) trading platform based on the Polygon network. This platform allows users to seamlessly trade assets by providing liquidity and utilising liquidity mining features. DFYN is committed to creating a cross-chain decentralised trading ecosystem that offers a fast and cost-effective trading experience.

  • Main Features:
  • Community Governance: DFYN is governed collectively by community members, ensuring that the platform's decision-making process is transparent and fair.
  • Automated Market Maker (AMM): DFYN uses the AMM mechanism, allowing users to provide liquidity and receive rewards.
  • Cross-Chain Trading: DFYN supports cross-chain asset trading, providing a wider range of trading options.
  • Low Cost: DFYN leverages the advantages of the Polygon network to offer a quick and low-cost trading experience.

DFYN aims to provide users with a secure, transparent, and efficient decentralised trading environment that fosters the development and innovation of the cryptocurrency market.

2. Who founded DFYN?

The founder of Dfyn Network is Ramani 'Ram' Ramachandran.

3. Which venture capitalists invested in DFYN?

According to the provided search results, there is no direct mention of which venture capitalists invested in the cryptocurrency DFYN. However, here are some related pieces of information:

  1. Investment Information on DFYN: The search results provided do not mention specific investment information about DFYN. DFYN is a decentralised finance (DeFi) protocol, but explicit investment details are not reflected in these search results.

  2. Related Investment Information: The search results mentioned the funding situation in the cryptocurrency industry in 2021, including funding rankings in the DeFi sector but did not specifically mention DFYN.

  3. Other Relevant Information: The search results mentioned the funding situation of the Web3 social protocol beoble, including investments from institutions like DCG, Samsung Next, and HashKey Capital, but did not mention DFYN.

If you need more specific information, it is recommended to search directly for DFYN's official website or relevant news articles to get the latest investment information.

4. How does DFYN work?

DFYN is a cryptocurrency based on a multi-chain automated market maker (AMM) decentralised exchange (DEX). Its operation is described as follows:

  1. Cross-Chain Trading: DFYN allows users to trade across multiple blockchains, including Ethereum and Polygon. It provides cross-chain liquidity infrastructure through the Router Protocol, enabling users to swap and trade assets across different blockchain networks in an almost instantaneous and low-cost manner.

  2. No Gas Fee Model: A key advantage of DFYN is that it offers a “No Gas Fee Model,” allowing users to trade on Layer 2 blockchains without having to pay high gas fees. For example, during Matic trading tests using Layer 2, the transaction gas fee was only $0.000002, and the transaction time was just 1 second.

  3. Liquidity Mining: DFYN allows users to provide liquidity and earn rewards through its liquidity mining mechanism. It collaborates with multiple DeFi projects to provide a fast, gas-free mining ecosystem, such as Galaxy Farm.

  4. Community Governance: DFYN is a platform governed by its community, allowing DFYN token holders to participate in the decision-making process through voting. DFYN tokens are also used for profit sharing, with a portion of transaction fees allocated to the DFYN fund pool for token buyback and gas fee subsidies.

  5. Multi-Chain Support: DFYN plans to evolve into a fully-fledged cross-chain decentralised exchange, allowing users to trade currencies from other blockchains on any blockchain. It will also serve as the first Launchpad on Layer 2, enabling creators/developers to launch and trade tokens across multiple blockchains through DFYN.

In summary, DFYN provides an efficient and low-cost decentralised exchange solution through its cross-chain trading, no gas fee model, liquidity mining, and community governance features.

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