{"id":"falcon-finance","title":"Falcon Finance","content":"**Falcon Finance** is a [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) platform and universal collateralization infrastructure that provides [stablecoin](https://iq.wiki/wiki/stablecoin) solutions, cross-chain interoperability, and yield optimization services. [\\[14\\]](#cite-id-ixdxkryHmj7jpLgv) Launched in early 2025, the protocol supports lending, borrowing, and [liquidity provisioning](https://iq.wiki/wiki/liquidity-providers) across multiple [blockchain](https://iq.wiki/wiki/blockchain) networks, anchored by its primary stablecoin, Falcon USD (USDf). [\\[4\\]](#cite-id-K96seEnj04) [\\[1\\]](#cite-id-2wywdESkKQ) [\\[2\\]](#cite-id-PXmCatVl2b) [\\[8\\]](#cite-id-D1qJkkwtig)​\n\n## Overview\n\nFalcon Finance is a universal collateralization infrastructure designed to provide transparent, secure, and resilient yield performance in various market conditions. Built by experts in blockchain and financial engineering, the protocol aims to unlock liquidity from a wide range of digital assets through a dual-token system comprised of USDf and sUSDf. As of March 2026, the platform reported a Total Value Locked (TVL) of $1.90 billion and a USDf supply of $1.63 billion. [\\[4\\]](#cite-id-K96seEnj04) [\\[14\\]](#cite-id-ixdxkryHmj7jpLgv)\n\n* **USDf** is an overcollateralized synthetic dollar minted when users deposit eligible liquid assets as collateral. The platform accepts a diverse range of assets, including stablecoins, blue-chip cryptocurrencies like [BTC](https://iq.wiki/wiki/bitcoin-btc) and [ETH](https://iq.wiki/wiki/ethereum), various [altcoins](https://iq.wiki/wiki/altcoin) such as [Solana](https://iq.wiki/wiki/solana), [Avax](https://iq.wiki/wiki/avalanche), [Near](https://iq.wiki/wiki/near-protocol), and [Ton](https://iq.wiki/wiki/toncoin-ton), and Real-World Assets (RWAs). For [stablecoin](https://iq.wiki/wiki/stablecoin) deposits, the token is issued at a 1:1 ratio, while non-stable assets are subject to an overcollateralization ratio to mitigate market volatility. [\\[1\\]](#cite-id-2wywdESkKQ) [\\[4\\]](#cite-id-K96seEnj04)\n* **sUSDf** is the yield-bearing token generated when USDf is [staked](https://iq.wiki/wiki/staking) in a vault built on the ERC-4626 standard. This token provides a base yield derived from diversified, institutional-grade trading strategies that extend beyond typical basis spread arbitrage to include methods like funding rate arbitrage. [\\[4\\]](#cite-id-K96seEnj04) [\\[15\\]](#cite-id-l4PTPTuXjljRRGqh)\n\nThe platform’s core functionality allows users to mint USDf to access liquidity, stake USDf for sUSDf to earn yield, and lock sUSDf for fixed terms to amplify returns. The protocol is designed for various users:\n\n* **Traders and Investors:** Can unlock liquidity from their crypto holdings to optimize trading strategies and access competitive yields.\n* **Crypto Projects and Founders:** Can utilize USDf and sUSDf for treasury management to preserve reserves and earn yield on project funds.\n* **Exchanges and Retail Platforms:** Can integrate Falcon Finance’s products to offer their customers access to yield-generating solutions. [\\[4\\]](#cite-id-K96seEnj04)\n\n## History\n\nAccording to its [whitepaper](https://iq.wiki/wiki/white-paper) published in February 2025, Falcon Finance was developed in response to the need for solutions that combine sustainable yield with effective risk management in volatile markets. Supported by [DWF Labs](https://iq.wiki/wiki/dwf-labs), the protocol launched in early 2025 and was designed to address limitations observed in traditional methods that rely solely on positive arbitrage or funding rate strategies. In March 2025, during its Closed Beta phase, Falcon Finance reached $100 million in [Total Value Locked](https://iq.wiki/wiki/tvl) (TVL). This phase allowed for adjustments to the system’s interface and functionality in preparation for a wider public launch. [\\[2\\]](#cite-id-PXmCatVl2b) [\\[3\\]](#cite-id-AzDinDIQZq) [\\[7\\]](#cite-id-7MBkaRRCYB) [\\[8\\]](#cite-id-D1qJkkwtig)\n\n## Technology\n\nFalcon Finance’s architecture is designed to operate efficiently under varying market conditions. Key aspects include:\n\n1. **Minting and Redemption Mechanism:** The process of minting USDf involves converting deposited assets into collateral while applying appropriate collateralization ratios based on asset type. The conversion of USDf into sUSDf occurs through a [staking](https://iq.wiki/wiki/staking) mechanism using ERC-4626 vaults, where the number of sUSDf tokens issued is determined by current value and accumulated yields. The system also supports the redemption of assets while respecting the overcollateralization parameters.\n2. **Dual-Token System:** The protocol employs two interrelated tokens. USDf is minted through collateral deposits and is overcollateralized to help manage the risks associated with volatile assets. In contrast, sUSDf accumulates yield over time as the protocol allocates returns from various financial operations.\n3. **Risk Management and Transparency:** Falcon Finance employs both automated systems and manual oversight to manage risks. User assets are protected by secure wallet solutions using Multi-Party Computation (MPC) and multi-signature protocols, with collateral held by qualified custodians. The protocol features an on-chain insurance fund, financed by a portion of monthly profits, to safeguard users against periods of negative yield. In addition, the protocol provides transparency dashboards that report daily metrics on reserves, [TVL](https://iq.wiki/wiki/tvl), and yield performance, along with regular third-party Proof of Reserve (PoR) audits and quarterly ISAE3000 assurance reports.\n4. **Scalability Solutions:** [Ethereum](https://iq.wiki/wiki/ethereum)-based transactions are processed via [zk-Rollups](https://iq.wiki/wiki/zk-rollup) to reduce costs, while [Solana’s](https://iq.wiki/wiki/solana) infrastructure supports high-throughput settlements.\n5. **Yield-Generation Strategies:** The protocol incorporates several methods beyond basic arbitrage, including:\n\n   * **Funding Rate and Cross-Exchange Arbitrage:** Strategies that exploit discrepancies between spot and futures markets, including negative funding rate arbitrage.\n   * **Altcoin-Based Yield Opportunities:** By accepting a diverse range of collateral, the protocol can utilize yield opportunities present in native [staking](https://iq.wiki/wiki/staking) and farming platforms associated with those assets. [\\[1\\]](#cite-id-2wywdESkKQ) [\\[2\\]](#cite-id-PXmCatVl2b)\n\n## Falcon USD (USDf)\n\nUSDf is the principal component of the Falcon Finance ecosystem, functioning as an overcollateralized synthetic dollar.\n\n* **Function and Issuance:** USDf is minted based on the deposit of eligible digital assets. [Stablecoin](https://iq.wiki/wiki/stablecoin) deposits are converted on a 1:1 basis, while more volatile assets require a higher overcollateralization ratio to maintain stability.\n* **Utility Within the Ecosystem:** USDf is used as both a store of value and a medium of exchange. When staked, it is converted into sUSDf, a token that reflects the accumulated yield over time as per the protocol’s operational strategies.\n* **Performance and Liquidity:** Reports from [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) monitoring platforms indicate that USDf maintains a value near $1. The token has been listed on [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange) such as [Uniswap](https://iq.wiki/wiki/uniswap) and [Curve Finance](https://iq.wiki/wiki/curve-finance), which facilitates liquidity and trading.\n\nReserve balances are audited quarterly and displayed in real time on the platform’s dashboard. Governance decisions are voted on by Falcon Token (FF) holders. [\\[1\\]](#cite-id-2wywdESkKQ) [\\[2\\]](#cite-id-PXmCatVl2b) [\\[4\\]](#cite-id-K96seEnj04) [\\[5\\]](#cite-id-2IxDjzC54U) [\\[6\\]](#cite-id-B7jmcjrzKL) [\\[9\\]](#cite-id-Hzp08gJiAa)​\n\n## Falcon Token (FF)\n\nThe Falcon Token (FF) is the native governance and utility token of the Falcon Finance protocol, designed for decentralized decision-making and incentivizing platform participation. The token has a fixed maximum supply of 10 billion. [\\[2\\]](#cite-id-PXmCatVl2b)​\n\nFF holder utilities include:\n\n* **Governance:** Proposing and voting on protocol upgrades, adjustments to collateral ratios, and budget allocations.\n* **Staking Benefits:** Enhanced economic incentives within the protocol, including boosted APY on USDf staking, reduced overcollateralization ratios for minting, and discounted swap fees.\n* **Access:** Privileged access to new protocol features, such as early entry into new delta-neutral yield vaults and structured minting pathways.\n\nTo further align long-term holders with the protocol's growth, users can stake FF to mint sFF, the staked version of the governance token. Holding sFF provides yield distributed in FF and accelerated earning of \"Falcon Miles\" for the platform's loyalty program. The Falcon Finance ecosystem also includes the Perryverse NFT collection, which provides holders with boosted multipliers within the Falcon Miles reward system. [\\[16\\]](#cite-id-iUcmNpFtH0hGdz89) [\\[17\\]](#cite-id-IntfqFoXclTm0p4f) [\\[18\\]](#cite-id-mxeeRXoPq9aBHL7T)​\n\nThe token allocation is designated as follows: Ecosystem (35%), Foundation (24%), Core Team & Early Contributors (20%), Community Airdrops & Launchpad Sale (8.3%), Marketing (8.2%), and Investors (4.5%). Tokens allocated to the core team and investors are subject to a one-year cliff and three-year vesting schedule. [\\[2\\]](#cite-id-PXmCatVl2b)​\n\n## Custody Integration with BitGo\n\nIn June 2025, Falcon Finance announced an integration with [BitGo](https://iq.wiki/wiki/bitgo) to provide secure custody support for its overcollateralized synthetic dollar, USDf. This partnership aimed to extend Falcon Finance’s access to regulated infrastructure and prepare the groundwork for future features, including token listing and [staking](https://iq.wiki/wiki/staking). [\\[10\\]](#cite-id-aU9GF26IJ1)\n\n[BitGo](https://iq.wiki/wiki/bitgo), a qualified custodian for digital assets, began the process of onboarding USDf to its custody platform. The integration enables institutional users to hold USDf within [BitGo](https://iq.wiki/wiki/bitgo) wallets, streamlining access to Falcon’s ecosystem. [\\[11\\]](#cite-id-5sdj1CXP7T)\n\nUSDf is minted by depositing approved collateral, including [USD1](https://iq.wiki/wiki/usd1), a fiat-backed [stablecoin](https://iq.wiki/wiki/stablecoin) issued by World Liberty Financial. USD1’s reserves, composed of short-term U.S. Treasuries and dollar deposits, are held in custody by [BitGo](https://iq.wiki/wiki/bitgo), creating a clear and auditable flow from fiat reserve to synthetic dollar issuance. [\\[10\\]](#cite-id-aU9GF26IJ1)\n\n[Andrei Grachev](https://iq.wiki/wiki/andrei-grachev), Managing Partner at Falcon Finance, stated that the integration reflects the growing alignment between synthetic dollar protocols and regulated digital asset infrastructure. [Mike Belshe](https://iq.wiki/wiki/mike-belshe), CEO and Co-founder of [BitGo](https://iq.wiki/wiki/bitgo), commented that integrating USDf into their qualified custody platform enables institutional clients to interact with a new class of digital dollars without compromising on compliance or operational integrity. [\\[12\\]](#cite-id-RXc64M3Igv)\n\nFollowing the integration, Falcon and [BitGo](https://iq.wiki/wiki/bitgo) planned to expand support to include USDf [staking](https://iq.wiki/wiki/staking) into sUSDf vaults via the [ERC-4626](https://iq.wiki/wiki/erc-4626) standard. Additionally, their plans included introducing fiat settlement, enabling seamless fiat transfers and on- and off-ramps capabilities through [BitGo](https://iq.wiki/wiki/bitgo)’s Go Network. [\\[13\\]](#cite-id-9W3ooZwhwZ)\n\n## Roadmap\n\nAccording to its [whitepaper](https://iq.wiki/wiki/white-paper), Falcon Finance outlined several strategic goals for 2025 and 2026. [\\[2\\]](#cite-id-PXmCatVl2b)\n\nFor 2025, the objectives included expanding global banking rails and fiat on/off-ramps to regions including LATAM, Turkey, MENA, and Europe. Other goals were to launch physical gold redemption in the United Arab Emirates (UAE) and integrate tokenized instruments like T-bills by onboarding major tokenization platforms.\n\nFor 2026, the protocol's plans include developing a dedicated Real-World Asset (RWA) tokenization engine for corporate bonds, treasuries, and private credit. The roadmap also features the expansion of physical gold redemption to MENA and Hong Kong, deepening partnerships with Traditional Finance (TradFi) institutions, and introducing securitized, institutional-grade USDf products and investment funds. [\\[2\\]](#cite-id-PXmCatVl2b)","summary":"Falcon Finance is a universal collateralization protocol offering secure yields on crypto and Real-World Assets (RWAs) through its USDf and sUSDf dual-token system.","images":[{"id":"QmT53tX2M62XqK6UWFfUuZjDiWTESUFjKUNePETBPkHF7n","type":"image/jpeg, 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Documentation\",\"timestamp\":1743445699768},{\"id\":\"PXmCatVl2b\",\"url\":\"https://falcon.finance/whitepaper.pdf\",\"description\":\"Falcon Whitepaper\",\"timestamp\":1743445699768},{\"id\":\"AzDinDIQZq\",\"url\":\"https://markets.businessinsider.com/news/currencies/falcon-finance-crosses-100-million-tvl-in-closed-beta-1034516241\",\"description\":\"Business Insider\",\"timestamp\":1743445699768},{\"id\":\"K96seEnj04\",\"description\":\"Website: Facon Finance\",\"timestamp\":1743447480207,\"url\":\"https://falcon.finance/\"},{\"id\":\"2IxDjzC54U\",\"description\":\"CoinMarketCap: Falcon Finance\",\"timestamp\":1743447502422,\"url\":\"https://coinmarketcap.com/currencies/falcon-finance/\"},{\"id\":\"B7jmcjrzKL\",\"description\":\"CoinGecko: Falcon Finance\",\"timestamp\":1743447518338,\"url\":\"https://www.coingecko.com/en/coins/falcon-finance\"},{\"id\":\"7MBkaRRCYB\",\"description\":\"Falcon Finance Crosses $100 Million TVL in Closed Beta - Chainwire\\n\",\"timestamp\":1743447578023,\"url\":\"https://chainwire.org/2025/03/26/falcon-finance-crosses-100-million-tvl-in-closed-beta/\"},{\"id\":\"D1qJkkwtig\",\"description\":\"DWF Labs Partner: The synthetic dollar protocol Falcon Finance will be launched next week\\n\",\"timestamp\":1743447630324,\"url\":\"https://www.chaincatcher.com/en/article/2164390\"},{\"id\":\"Hzp08gJiAa\",\"description\":\"Falcon's overcollateralized synthetic dollar is now available for trading on Curve.\\n\",\"timestamp\":1743447654839,\"url\":\"https://x.com/FalconStable/status/1902691696418460033\"},{\"id\":\"aU9GF26IJ1\",\"description\":\"Falcon Finance Partners BitGo for USDf Custody Support\\n\",\"timestamp\":1750701794059,\"url\":\"https://www.ainvest.com/news/falcon-finance-partners-bitgo-usdf-custody-support-2506/\"},{\"id\":\"5sdj1CXP7T\",\"description\":\"Falcon Finance Announces Custody Integration with BitGo for USDf Synthetic Dollar\\n\",\"timestamp\":1750701825912,\"url\":\"https://www.investingcube.com/press-releases/falcon-finance-announces-custody-integration-with-bitgo-for-usdf-synthetic-dollar/\"},{\"id\":\"RXc64M3Igv\",\"description\":\"Falcon Finance Announces Custody Integration With BitGo for USDf Synthetic Dollar\\n\",\"timestamp\":1750701860760,\"url\":\"https://dailyhodl.com/2025/06/11/falcon-finance-announces-custody-integration-with-bitgo-for-usdf-synthetic-dollar/\"},{\"id\":\"9W3ooZwhwZ\",\"description\":\"Falcon Finance Announces Custody Integration with BitGo for USDf Synthetic Dollar\\n\",\"timestamp\":1750701876041,\"url\":\"https://www.falcon.finance/news/falcon-finance-announces-custody-integration-with-bitgo-for-usdf-synthetic-dollar\"},{\"id\":\"ixdxkryHmj7jpLgv\",\"url\":\"https://falcon.finance/about\",\"description\":\"About Falcon Finance\",\"timestamp\":1772734518449},{\"id\":\"l4PTPTuXjljRRGqh\",\"url\":\"https://docs.falcon.finance/earn/susdf-yield-bearing-token\",\"description\":\"sUSDf Yield-Bearing Token Docs\",\"timestamp\":1772734518449},{\"id\":\"iUcmNpFtH0hGdz89\",\"url\":\"https://docs.falcon.finance/ff-token\",\"description\":\"FF Token Documentation\",\"timestamp\":1772734518449},{\"id\":\"IntfqFoXclTm0p4f\",\"url\":\"https://docs.falcon.finance/sff-token\",\"description\":\"sFF Token Documentation\",\"timestamp\":1772734518449},{\"id\":\"mxeeRXoPq9aBHL7T\",\"url\":\"https://docs.falcon.finance/perryverse-nft\",\"description\":\"Perryverse NFT Documentation\",\"timestamp\":1772734518449}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmbncsJWfcM7wGweNkwpTb4B2rLDbH7NVJY77DmGvKm9Sy\""},{"id":"commit-message","value":"\"Removed Falcon Finance content and fixed 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Finance\",\"description\":\"Falcon Finance is a universal collateralization protocol offering secure yields on crypto and Real-World Assets (RWAs) through its USDf and sUSDf dual-token system.\",\"timestamp\":\"2026-03-05T18:34:57.997Z\",\"category\":\"Dapps\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x8AF7a19a26d8FBC48dEfB35AEfb15Ec8c407f889\",\"address\":\"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Title\",\"subtitle\":\"The title was updated for capitalization.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Changed title from 'dapps' to 'Dapps'.\"]},{\"title\":\"Summary\",\"subtitle\":\"The summary was updated to expand on the protocol's capabilities.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated summary from 'Falcon Finance is a synthetic dollar protocol offering sustainable yields through diversified strategies, utilizing a dual-token system with USDf and sUSDf.' to 'Falcon Finance is a universal collateralization protocol offering secure yields on crypto and Real-World Assets (RWAs) through its USDf and sUSDf dual-token system.'\"]},{\"title\":\"Introduction\",\"subtitle\":\"The introductory paragraph was updated with new information about the platform and its launch.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Added 'universal collateralization infrastructure' to the platform's description. [[14]](#cite-id-ixdxkryHmj7jpLgv)\",\"Updated the launch date from 2023 to early 2025. [[4]](#cite-id-K96seEnj04) [[1]](#cite-id-2wywdESkKQ) [[2]](#cite-id-PXmCatVl2b) [[8]](#cite-id-D1qJkkwtig)\"]},{\"title\":\"Overview\",\"subtitle\":\"The Overview section was substantially rewritten to include new metrics, collateral types, and use cases.\",\"variant\":\"modified\",\"changeCount\":4,\"changes\":[\"Added current platform metrics, including a TVL of $1.90 billion and a USDf supply of $1.63 billion as of March 2026. [[4]](#cite-id-K96seEnj04) [[14]](#cite-id-ixdxkryHmj7jpLgv)\",\"Expanded the list of accepted collateral to include various altcoins and Real-World Assets (RWAs). [[1]](#cite-id-2wywdESkKQ) [[4]](#cite-id-K96seEnj04)\",\"Specified that the sUSDf token is generated in a vault built on the ERC-4626 standard. [[4]](#cite-id-K96seEnj04) [[15]](#cite-id-l4PTPTuXjljRRGqh)\",\"Added a list of user profiles, such as traders, crypto projects, and retail platforms. [[4]](#cite-id-K96seEnj04)\"]},{\"title\":\"History\",\"subtitle\":\"The History section was updated to include information about a key supporter.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Added that the protocol is supported by DWF Labs. [[2]](#cite-id-PXmCatVl2b) [[3]](#cite-id-AzDinDIQZq) [[7]](#cite-id-7MBkaRRCYB) [[8]](#cite-id-D1qJkkwtig)\"]},{\"title\":\"Technology\",\"subtitle\":\"The Technology section was updated with more specific details on risk management and yield strategies.\",\"variant\":\"modified\",\"changeCount\":3,\"changes\":[\"Specified that the conversion of USDf into sUSDf uses ERC-4626 vaults.\",\"Added details on risk management, including the use of qualified custodians, an on-chain insurance fund, Proof of Reserve (PoR) audits, and assurance reports.\",\"Expanded on yield strategies to include negative funding rate arbitrage.\"]},{\"title\":\"Falcon USD (USDf)\",\"subtitle\":\"The section on the USDf token was modified, removing a summary paragraph and clarifying governance.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Specified that governance decisions are voted on by Falcon Token (FF) holders.\",\"Removed a final summary paragraph describing the protocol's overall function.\"]},{\"title\":\"Falcon Token (FF)\",\"subtitle\":\"A new section was added describing the Falcon Token (FF), its utility, and tokenomics.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Added a new section on the Falcon Token (FF), covering its utility, staking benefits, the sFF token, the Perryverse NFT collection, and token allocation. [[2]](#cite-id-PXmCatVl2b) [[16]](#cite-id-iUcmNpFtH0hGdz89) [[17]](#cite-id-IntfqFoXclTm0p4f) [[18]](#cite-id-mxeeRXoPq9aBHL7T)\"]},{\"title\":\"Recent Developments\",\"subtitle\":\"The 'Recent Developments' section header was removed and its content reorganized.\",\"variant\":\"removed\",\"changeCount\":1,\"changes\":[\"Removed the 'Recent Developments' section; its content regarding the BitGo partnership was moved to a dedicated top-level section.\"]},{\"title\":\"Custody Integration with BitGo\",\"subtitle\":\"Content on the BitGo integration was promoted to a top-level section and slightly rephrased.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Reworded the description of future plans, changing from 'plan to expand' to 'planned to expand'. [[13]](#cite-id-9W3ooZwhwZ)\"]},{\"title\":\"Roadmap\",\"subtitle\":\"A new 'Roadmap' section was added.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Added a new section outlining the protocol's roadmap for 2025 and 2026, covering global expansion, physical gold redemption, and RWA tokenization. [[2]](#cite-id-PXmCatVl2b)\"]},{\"title\":\"Events\",\"subtitle\":\"The details for the public launch event were updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated the public launch event, changing the date from '2025-04' to '2025-04-01' and expanding the description to 'The public launch officially took place on April 30, 2025, after closed‑beta had already achieved over $200 million in TVL .'.\"]},{\"title\":\"Images\",\"subtitle\":\"The main hero image and other images in the article were replaced.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Replaced the main hero image (ID changed from 'QmZbiv3t9Jz8MBfoxJ2fjE7nfZXW2EmbeHXTbDM3PowkAp' to 'QmT53tX2M62XqK6UWFfUuZjDiWTESUFjKUNePETBPkHF7n').\",\"Replaced multiple other images, as indicated by changes in thumbnail hashes.\"]},{\"title\":\"References\",\"subtitle\":\"The reference list was updated with new sources and one removal.\",\"variant\":\"modified\",\"changeCount\":6,\"changes\":[\"Added reference: 'About Falcon Finance'.\",\"Added reference: 'sUSDf Yield-Bearing Token Docs'.\",\"Added reference: 'FF Token Documentation'.\",\"Added reference: 'sFF Token Documentation'.\",\"Added reference: 'Perryverse NFT Documentation'.\",\"Removed reference: 'Falcon Finance Unlocks Beta Access for Select Community Members to Mark $90M Milestone'.\"]}]}]}"}