Four more decentralized tokens have been added to the DeFiChain decentralized exchange, making it the most complete platform for trading cryptocurrencies on the Bitcoin network. DeFiChain’s objective is to make accessible decentralized financial applications and services. Recently announced dTokens include $dWMT (Walmart), $dUL (Unilever), $dUSO (US Oil Fund), and $dUNG (Unilever) (US Gas Fund).
As a substantial alternative to the traditional financial broker, it offers users price exposure to the assets of their choice, regardless of location. Users may now create and trade these decentralized assets inside the DeFi ecosystem, giving them price exposure to stocks and ETFs without leaving the community. Additionally, they may buy dTokens on the DeFiChain DEX, even in fractional amounts. Existing dTokens on DeFiChain correlate to the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta, and several more companies and ETFs.
Users may store their dTokens as an investment, trade them on the DeFiChain DEX, or use them to mine for liquidity on the DEX. Users may mint their own dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT, or USDC in the DeFiChain Vault as collateral. The dTokens are not “securities” issued by a corporation or other important body. This suggests that although they do give price exposure to users, they do not provide ownership, voting rights, dividends, or any other advantages traditionally provided to investors. The dTokens do not monitor and represent the real stock price.
Instead, a number of variable components are monitored and reflected, and oracles are utilized to record these feeds. By minting or acquiring the necessary dTokens, millions of individuals from over the globe who were unable to invest in US equities due to geographical restrictions, trade bans, or any number of other impediments might have price exposure to their favored assets.
Benjamin Rauch, vice president of marketing at DeFiChain Accelerator, said, “New postings on DeFiChain are influenced by the community. Due to the current interest in commodities, the community chose to publish two tokens relating to commodities, demonstrating the true potential of decentralization. On DeFiChain, anybody may contribute to the development of the financial instruments of the future!”
The governance of the DeFiChain blockchain is conducted on-chain. Since the launch of the mainnet in May 2020, the community has participated actively in practically all aspects of the blockchain, including masternodes, projects, tools, governance, economic concepts, and code governance. Its codebase was created using open source software and was submitted to thorough peer review and analysis by a large number of people. DeFiChain is a decentralized Proof-of-Stake blockchain that was created as a hard fork of the Bitcoin network to enable more potent dApps. It is devoted to promoting the development of swift, intelligent, and transparent decentralized financial services.
DeFiChain provides a variety of services, including liquidity mining, staking, decentralized assets, and decentralized loans. DeFiChain’s mission is to include decentralized finance into the Bitcoin ecosystem. The team behind DeFiChain has ambitious plans for the future of the platform, including integrating it with well-known wallets and exchanges and developing new features and applications.
In addition, the team intends to extend the platform’s reach to more nations and areas. The team aspires to make DeFiChain the platform of choice for decentralized finance in the near future. DeFiChain is off to a strong start, with a quickly developing user and development community. The team is certain that the platform will continue to develop at an exponential pace over the next few months and years after its mainnet launch in June 2020.
