2020 is shaping up to be a big year for dForce for many reasons.

Over the past few months, our growth has been on a steep uptrend, particularly on the lending protocol side:

· USDx is currently traded on Hotbit, Coinsuper, Tokenlon (built-in DEX of imToken wallet), DDEX and Uniswap. OTC service available through Bitpie and NVEX. DF token is currently traded on Uniswap and DDEX.

· Holders of stablecoin USDx increased to 2,543, with a total 10,668 transfers, and transacted value in February 2020 is $2.84million.

· dForce lending protocol recorded a lock-up value of $17.0 million, ranked as the world’s #5 lending protocol.

· Accumulated supply and borrowing continues to grow, with a total supply of $49.5 million (representing a MoM growth of 95.5%) and a total borrowing of $12.4 million (MoM growth of 83.0%) by 29 February 2020.

· dForce lending protocol is by far the largest DeFi protocol that supports USDT saving and borrowing with the best available liquidity (up to >$1 million) and competitive interest rate (i.e. 4.84% saving APR versus 6.38% borrowing APR). All assets supportedcan be used as collaterals to accommodate a variety of arbitrage and trading strategies, including imBTC, HBTC, WBTC, USDx, USDT, USDC, PAX, TUSD, DAI.

· On the collateral side, we are leading WETH and dominating both imBTC and HBTC (tokenized BTC of ERC standards launched by imToken and Huobi, respectively):

- WETH is the most popular collateral, we are #3 holder of WETH (1.5%) by 4 March 2020 valued at $8.2m, after MakerDao and dYdX: - We are #1 holder of imBTC (49.6%) by 4 March 2020 - We are #2 holder of HBTC (36.8%) by 4 March 2020

With more innovations landing the DeFi land owing to the composability and programmability of smart contracts, dForce pioneered its way from the launch of Yield Enhancing Protocol (DIP001) and the following integration with USDx, making USDx the world’s first fiat-back synthetic stablecoin implementing systematic interest through USDx Saving Rate (USR).

Here we will recap on some of the things we have been working on recently.