DeFiChain Lists Four New Assets
DeFiChain (DFI), a decentralized proof-of-stake (PoS) blockchain created as a hard fork of the Bitcoin network to enable advanced decentralized finance (DeFi) applications, has added four new decentralized assets (dTokens) to its growing list of ecosystem products. Following a Rolling Vote by members of the community.
In the DeFiChain ecosystem, the community decides which dTokens will be listed on the platform, and based on their votes, DeFiChain has now added:
- $dDIS – Walt Disney Co
- $dMCHI – iShares MSCI China ETF
- $dMSTR – MicroStrategy Incorporated
- $dINTC -Intel Corporation
The team made it clear that DeFiChain users can now print and trade newly added dTokens. The four entities received the highest votes from community members who could also select other entities such as Mastercrad Inc, Nintendo Co LTD, PayPal Holdings Inc, Twitter Inc, Uber Technologies Inc, and more.
Continuous Expansion
The team says that the addition of the new dTokens is a big step towards enabling DeFiChain users to take advantage of the price increase of traditional assets such as stocks, bonds, commodities, ETFs and more.
DeFiChain currently offers dTokens corresponding to S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta and many other stocks and exchange-traded funds (ETFs).
DeFiChain Chief Engineer Prasanna Loganathar said:
“DeFiChain is continuously expanding the dToken universe o give users a serious alternative to the traditional financial broker – all whilst offering the flexibility and benefits of decentralization.”
Decentralized assets are one of the most innovative and revolutionary products of DeFiChain. DeFiChain claims to be the only blockchain to offer decentralized assets on the Bitcoin network.
The team has stated categorically that dTokens do not give holders ownership, voting rights, dividends, or other benefits available to stockholders of the underlying asset, as they are not securities issued by the companies themselves. Instead, dTokens are designed to offer holders price exposure to the traditional assets, not ownership.
“Rather than tracking and reflecting the actual stock price, the dTokens track and reflect a number of variables factors, and use oracles to capture those feeds,” explains the team, adding that the price of dTokens may not always correspond with that of the underlying assets, due to fluctuations in the supply and demand of dTokens.
Each dToken can either be held as an investment, traded on the DeFiChain DEX, or used for Liquidity Mining on the DEX. DeFiChain users can mint dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT, or USDC as collateral in the DeFiChain Vault.
In addition to minting dTokens, DeFiChain users interested in owning dTokens can also buy them (even in fractional pieces) on the DEX and then put them towards liquidity mining for additional passive income. All dTokens are completely denumerable and can be transferred to other people worldwide, without intermediaries.
By minting or buying dTokens, millions of people from across the world will now be able to invest in the U.S. stock markets without having to worry about their geographical locations, trading limits, and other barriers to entry.
“DeFiChain will continue to decentralize popular assets and offer additional innovative features when the time comes. As the team is a fully decentralized blockchain with on-chain governance, interested parties are not required to complete a KYC verification to hold decentralized stock tokens on DeFiChain.”
DeFiChain is dedicated to offering users fast, intelligent, and transparent DeFi solutions, including decentralized loans, liquidity mining, staking, decentralized assets, and more.
At press time, the price of DeFiChain’s native DFI token is trading around $4.46, according to CoinMarketCap.
