You should keep an eye on @FalconStable, they just launched publicly and already hit $200M in TVL, with an interesting points program.
+ What is it?
It's a synthetic dollar protocol backed by DWF Labs, offering sustainable yield opportunities.
+ How does it work?
1/ Users deposit collateral and mint the USDf stablecoin
2/ Funds are securely held by third-party custodians using multi-sig or MPC
3/ Assets are mirrored onto CEXs via off-exchange settlement for trading
4/ A portion is deployed into top-tier on-chain pools to generate yield
+ Points Program
Minting and staking USDf/sUSDf earns you points, with multipliers based on the type of mint and how long you stake.
1/ Complete KYC
2/ Mint USDf
3/ Stake USDf to get sUSDf
4/ Earn staking yield while getting points for future rewards.
I appreciate Falcon’s transparency, it looks like a solid alternative to Ethena, especially for point farmers.
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