A Vision for DVF | rhino.fi

Over the past year, rhino.fi has experienced remarkable growth, reaching over 50,000 weekly active users and 500,000 registered accounts. Our revenue has surged from $10k/month to averaging over $200k/month. And so far we’ve managed to drive this growth and market adoption all without utilising our token, DVF.

Now, as we gear up for the next phase of our growth, we’re considering how we can align DVF and its community of token holders with rhino.fi’s success.

Our goals are simple:

1. Ensure the token of rhino.fi accrues real value
2. Achieve greater distribution of the token and use it to accelerate the growth flywheel

Some Background

Initially envisioned as the governance token for DeversiFi, DVF has evolved alongside rhino.fi. Today, rhino.fi stands as a multi-chain DeFi aggregator, offering lightning fast bridging to 14 rollups (and counting), yield opportunities, cross-chain swaps, and more.

With most of our operations now off-chain, the governance mechanism provided by DVF is less relevant. The original on-chain protocol, built on StarkEx and offering order-book and AMM trading, generates very little revenue, whereas rhino.fi as a platform is now beginning to generate significant revenue, mainly from cross-chain swap aggregation, yield and bridging.

We want to explore the best ways to leverage DVF’s potential in this new landscape.

Current State of DVF

Distribution:

• 60% held undistributed by DVF DAO
• 27% held by Liquidity Labs
• 13% in public hands (vested or unvested with strategic supporters and community)

One strategic early user airdrop has been deployed, which increased circulating supply by a very small margin, and is included in the 13% of tokens currently circulating.

Governance and Staking

A governance mechanism was built for DVF using the Safe Zodiac module and Snapshot.

Governance has ownership over a large treasury of DVF tokens (over 50% of the supply, as described as the DVF DAO above), as well as a pool of ETH and USDT currently used to provide DAO owned liquidity on Ethereum and several L2s. It also has the ability to mint and burn DVF, and make several adjustments to parameters of the StarkEx based protocol and AMM pool.

DVF can also be staked to receive xDVF. xDVF gives holders voting rights, and also was intended to be where fees would accrue if fees were activated in the protocol.

As it currently stands, no fees were ever activated and distributed to xDVF holders.500