Falcon Finance has exceeded $500M in total supply of its USDf synthetic dollar, indicating a growing demand for the multi-utility asset as it prepares for its full public launch.
The total supply of USDf has surpassed $520M with Falcon's TVL reaching $589M, demonstrating significant user activity and interest in the protocol.
Whitelisted users can deposit stablecoins or crypto assets to mint USDf, an overcollateralized stablecoin. Staking USDf allows users to mint sUSDf, the yield-generating version with a current APY of 8.8%.
Falcon Finance's approach of deriving yield for USDf stakers from multiple sources ensures consistent yields irrespective of market conditions. The synthetic stablecoin's demand is further fueled by its integration with various DeFi protocols and opportunities for maximizing yield.