Price
$0.0021
12/7/2022, 8:30:00 PM
diamondHands

Buy DAFI Protocol with Coinbase Wallet

DAFI Protocol can be traded using Coinbase Wallet, your key to the world of crypto.

Market

Market stats

Market cap

$1.2M

Volume (24h)

$109,884.65

Circulating supply

557.6M DAFI

All time high

$0.21

Price change (1h)

+0.14%

Price change (24h)

-0.63%

Price change (7d)

-19.93%

Sign up now to get up to $400 in rewards

Coinbase users can earn up to $400 on average just by taking advantage of our rewards. Get started now.

congratulationsOnEarningCrypto

DAFI Protocol is on the decline this week.

The price of DAFI Protocol has fallen by 19.93% in the past 7 days. The price declined by 0.63% in the last 24 hours. In just the past hour, the price grew by 0.14%. The current price is $0.0021 per DAFI. DAFI Protocol is 98.98% below the all time high of $0.21.

The current circulating supply is 557,556,380.931 DAFI.

About

What Is DAFI Protocol (DAFI)?

DAFI (DAFI)is a protocol that allows networks to incentivize users based on their adoption. The protocol seeks to solve the problem of rewarding users without compromising token scarcity. Usually, platforms distribute tokens even at low adoption rates, causing an excess supply that devalues the economy. The solution offered by DAFI is to seek to link reward and demand together to create an incentive for the users and increase retention on platforms.

With DeFi, DAFI primarily aims to address three issues, which include:

  • Hyperinflation:It is difficult to offer incentives to the users when demand for the network is low. At such a stage, issuing tokens can create harmful supply shocks.

  • User retention:The distribution of tokens is good for new users, but this practice is unfair to long-term users. In essence, there are no economic incentives to the users who accumulate rewards to support the platform until it has a wider adoption.

  • Market decline:In 2018, many token economies crashed because of similar inflation models. In other words, there were not enough incentives for miners and holders.

To solve such issues, DAFI aims at sustainable adoption by introducing a model where reward quantity is tied to network demand. There are three core economic principles behind this. The first is reducing the number of network rewards at the beginning to avoid supply shocks and single user control of network value. Secondly, increasing the issued tokens as adoption rises, thus linking two market-factors to promote the growth of decentralized economies. And ultimately, increasing scarcity when demand declines to protect the economy by avoiding over-release of tokens.

Using DAFI, other protocols and platforms can create a reward system from their native token. It is then pegged or attached to the demand of the network and eventually distributed to users. As a result, users can seek to gain incentives to use the platform even at low adoption rates.

The whitepaper states that DAFI offers a way to create scarcity by making reward quantity proportional to demand. Users can stake the DAFI token for governance purposes and help create further incentives for future users.

History of DAFI Protocol (DAFI)

Zain Rana is the founder of DAFI. Besides that, he is also a global blockchain speaker. Rana has completed his BS in Biomedical Science from The Manchester Metropolitan University.

Some other team members of DAFI include Neil Nguyen as the economics lead, Ali Martinez as the creative lead, and Igor Stojkoski as the UI designer.

Related Assets

Trending assets

Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.

Popular cryptocurrencies

A selection of cryptocurrencies in the top 50 by market cap.

Recently added

A selection of the most recently added cryptocurrencies.

Comparable market cap

Of all the assets on Coinbase, these 8 are the closest to DAFI Protocol in market cap.

DAFI Protocol Calculator

Coinbase Bytes

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

FAQ

What is the current price of DAFI Protocol?

The price of 1 DAFI Protocol currently costs $0.0021.

What is the market cap of DAFI Protocol?

The current market cap of DAFI Protocol is $1.19M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of DAFI Protocol?

The all-time high of DAFI Protocol is $0.21. This all-time high is highest price paid for DAFI Protocol since it was launched.

What is the 24 hour trading volume of DAFI Protocol?

Over the last 24 hours, the trading volume of DAFI Protocol is $109.88K.

What other assets are similar to DAFI Protocol?

Assets that have a similar market cap to DAFI Protocol include Botto, FIBOS, Rangers Protocol, and many others. To see a full list, see our comparable market cap assets.

How many DAFI Protocol are there?

The current circulating supply of DAFI Protocol is 558 million.