Falcon Finance

Falcon Finance is a decentralized finance application that issues USDf, an overcollateralized synthetic dollar backed by digital tokens and tokenized real-world assets deposited as collateral. The protocol aims to let users access onchain liquidity without needing to sell their holdings. It targets institutions, protocols, and individual users who want to put existing assets to work without liquidating them.

Users deposit accepted collateral assets into the protocol to mint USDf, which is overcollateralized, meaning more collateral value backs each USDf than the dollar amount issued. USDf can then be staked to receive sUSDf, a yield-bearing token whose returns are generated by institutional-grade trading strategies operated by the protocol. The FF token is the protocol's native token, and the application runs across both the Ethereum and BNB Chain ecosystems, though no consensus algorithm is recorded for FF itself as it is an application-layer token rather than a base-layer asset.

The protocol collected 6,826 USD in fees over the most recent 24-hour period and 251,628 USD over the trailing 30 days, which annualizes to approximately 3,061,474 USD based on that 30-day pace. Over the trailing 12 months the recorded fee total is 5,438,989 USD. Fee generation fell 32.17 percent over the last 30 days. The market capitalization of 291,177,634 USD divided by the annualized fee figure gives a ratio of roughly 95, and the fully diluted valuation divided by the same fee figure gives roughly 310, reflecting how much larger the asset's implied value is relative to current fee output.