dForce vote to support Ethereum PoS Network. Ethereum’s setup upgrades — or “the merge” are coming. Ethereum’s set of upgrades will transition the chain from the proof-of-work (POW) consensus layer to the proof-of-stake (POS) consensus layer, aka ‘the merge’. It is believed to be rapidly approaching a go-live date.

After the transition, dForce will not allocate resources to supporting any forks of Ethereum. The dForce will only support the core POS Ethereum chain. Additionally, dForce believes that most members of the DeFi ecosystem will also focus on Ethereum’s mainnet.Have already seen announcements from major infrastructure providers indicating such. For example, dForce uses Chainlink oracles to provide accurate data feeds necessary for maintaining liquidity pools and liquidation frameworks.

Reference: DIP028 — Proposal for Committing to Ethereum POS Network

“The Chainlink protocol and its services will remain operational on the Ethereum blockchain during and after the Merge to the PoS consensus layer. Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol. This is alignS with both the Ethereum Foundation’s and broader Ethereum community’s decision, achieved via social consensus, to upgrade the Ethereum blockchain to PoS consensus.”—dForce

For dForce users, the team expects that everything should continue uninterrupted through the merge. There are several possible scenarios for what could happen in a post-merge. Forked ETH world, but they believe none presents a viable economic strategy that would result in long-term success. Moreover, without oracle support or stablecoin liquidity/support on a forked chain. Any forked protocols, including dForce, will not function as designed.

Additionally, dForce likes to point out that it cannot speak about the potential actions of other ecosystem players and actors using dForce. Users should take caution when utilizing any decentralized protocols.

ABOUT dForce

dForce is an integrated and interoperable platform for opening finance protocols, covering lending, assets, and trading.

Website | Twitter 

RESOURCES

Medium

REQUEST AN ARTICLE