Technology

Leading Bitcoin DeFi provider, DeFiChain, Introduces New dTokens to its DEX

Singapore, October 06, 2022: DeFiChain, a Bitcoin based DEFI solution, added 4 new decentralised tokens to its DEX. With the launch of the new tokens, traders from any part of the world can now have an exposure to the world financial market like Walmart ($dWMT), Unilever ($dUL), US Oil Fund ($dUSO) and US Gas Fund ($dUNG) without any geographical restrictions.

Defichain users can now mint and trade these Bitcoin DEFI assets; giving them a new way to trade the US stocks and ETFs without leaving the cryptocurrency ecosystem.

These dTokens can be traded on the Defichain DEX even in fractions, making them more convenient to buy, hold and sell, even for small traders.

This Bitcoin DEFI solution had earlier launched dTokens corresponding to top US stocks –  Tesla, Alibaba, Apple, Meta, Nvidia, GameStop, Amazon, Netflix, Microsoft, the S&P 500, Nasdaq 100, and stocks of many other companies and ETFs. The new 4 dTokens are an addition to the existing token listings.

Benjamin Rauch, Vice President of Marketing at DeFiChain Accelerator, in a Press Release said,

New listings on DeFiChain are driven by the community. Since commodities are a hot topic right now, the community decided to list two commodity related tokens, which shows the real power of decentralization. On DeFiChain everybody can participate in building the financial tools of tomorrow!

Like any other cryptocurrencies, traders can hold these dTokens for a long term, trade them on Defichain and also use them for providing Liquidity on the Defichain DEX.

These dTokens can be minted on the DefiChain blockchain by depositing Bitcoin, DFI (native token of Defichain), dUSD, USDC or UDST as a collateral.

Traders can either hold these dTokens as a long term investment, or trade them on the Defichain DEX. 

Are these dTokens securities? The dTokens do not fall under “securities” as these tokens give investors only price exposure unlike real stocks where the investors get access to ownership, dividends, voting rights, and other benefits, issued by large companies and institutions.

These dTokens use Oracles to capture a number of variable factors necessary, besides just tracking the actual stock price.

A large number of users who could not invest in the US stock market can now do so with the help of the Defichain’s new dTokens.

DeFiChain is a native decentralized blockchain for Bitcoin with an onchain governance. It follows the POS consensus mechanism with an aim to bring decentralised finance across the Bitcoin ecosystem by enabling fast, transparent, intelligent and smart defi services like staking, lending, liquidity mining etc.

Since its mainnet launch in May 2020, Defichain has seen a major involvement from the crypto community in all fields of blockchain, from tools to masternodes, project participation, to code governance. The project’s codebase is deployed in an open source manner, and can be reviewed by anyone. Defichain was earlier audited by Slowmist and KnownSec.

Defichain’s native token DFI is currently trading around 0.69USD at the time of writing. DFI was listed on Gate last week.

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