Falcon Finance

FF is the governance and utility token of Falcon Finance, the protocol behind the USDf synthetic dollar and its yield vaults.

Falcon Finance issues USDf, a synthetic dollar minted against crypto and other collateral, and sUSDf, which earns yield from strategies such as funding-rate arbitrage, options and staking. By 30 September 2026 USDf supply was $1.21 billion, backed by $1.90 billion of reserves, mostly bitcoin. The white paper is authored by DWF Labs co-founder Andrei Grachev.

FF is the protocol token. Holders can stake it as sFF to earn yield paid in FF, boosted yields on USDf and sUSDf and extra Falcon Miles; governance rights are still listed as coming soon. Unstaking takes three days.

Supply is 10 billion FF, with 35% for the ecosystem, 24% for the foundation, 20% for the team and 4.5% for investors; team and investor tokens vest over three years after a one-year cliff. FF launched on 29 September 2025.