To make a long story short, DWF Labs has launched the synthetic dollar protocol Falcon Finance @falconstable, which is essentially comparable to Ethena.

Compared to Ethena, the highlights of Falcon Finance are:

① Broader collateral acceptance: Falcon Finance accepts stablecoins, mainstream coins (BTC, ETH), and even some quality altcoins from the start. This broad collateral acceptance strategy allows Falcon Finance to seize more profit opportunities.

② Higher yields: Falcon Finance systematically generates returns in different market environments through methods such as negative funding rate arbitrage and cross-exchange arbitrage.

③ Linking the real world: In the long run, Falcon Finance aims to link RWA assets, acting as a bridge between real-world assets and the crypto world.

In terms of protocol details, Falcon Finance adopts a dual-token system - over-collateralized USDf and interest-bearing sUSDf.

USDf: Over-collateralized synthetic dollar, which users can mint by depositing eligible assets into the protocol. For eligible stablecoins, the minting ratio is 1:1; for non-stablecoin assets (such as ETH), an over-collateralization ratio is applied.

sUSDf (interest-bearing asset): The minted USDf can be further staked to mint sUSDf. Through the deployment of various institutional-grade yield strategies, the value of sUSDf will continuously accumulate relative to USDf, allowing users to realize profits upon redemption.

Currently, the TVL in the beta phase of Falcon Finance has surpassed $25 million. Those interested in participating in the beta can apply here: https://docs.google.com/forms/d/e/1FAIpQLScC1nAS1WoyAfZQwa0IQs3kShb4qNN8shPC_TfaYzvtUo2UWQ/viewform

For ordinary users, the probability of getting on the whitelist is not high, as the protocol is currently more geared towards institutions and professional investors. It is recommended to keep an eye on it and wait for the mainnet launch.

DWF + stablecoins, bound to be a hit.

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