DeFiChain adds support for four new dTokens

After a Ticker Voting by the community, DeFiChain added four new dTokens or decentralized assets to its ecosystem. 

The newly added dTokens are $dINTC (Intel Corporation), $dMCHI (iShares MSCI China ETF), $dDIS (Walt Disney Co), and $dMSTR (MicroStrategy Incorporated), Coin Journal learned from a press release.

DeFiChain community members can now mint and trade these dTokens, which received the most support.

A major step forward

The addition of the new dTokens allows DeFi users to benefit from the price growth of stocks, bonds, ETFs, commodities, and other conventional assets.

The leading blockchain already offers dTokens corresponding to Alibaba, GameStop, Tesla, Apple, Nasdaq 100, Nvidia, Netflix, Meta, Amazon, Microsoft, and many other stocks and ETFs.

Prasanna Loganathar, the Lead Engineer at DeFiChain, commented:

DeFiChain is continuously expanding the dToken universe to give users a serious alternative to the traditional financial broker – all whilst offering the flexibility and benefits of decentralization.

dTokens are one of the most revolutionary and innovative products on DeFiChain, the only blockchain that offers decentralized assets on the Bitcoin network.

Users get exposure to their favorite assets

dTokens offer price exposure, but they are not like securities. They don’t give voting rights, ownership, dividends, or any of the other benefits available to stockholders. They track and reflect different factors and use oracles to capture feeds.

On the other hand, they allow people from all over the world to gain price exposure to their favorite assets through minting or buying. 

This has the potential to impact millions of users who are otherwise unable to invest in US stocks due to trading limits, geographical restrictions, or other issues.

Tokens can go toward liquidity mining

A dToken can be used for liquidity mining on the DeFiChain DEX, held as an investment, or traded on the DEX. To mint dTokens on the blockchain, users must deposit BTC, DFI, dUSD, USDT or USDC as collateral.

Users can own dTokens without minting them. They can buy them on the DeFiChain DEX, even in fractional pieces, and then earn extra passive income. They can transfer dTokens without middlemen to other people all over the world.

Finally, those who want to hold decentralized stock tokens on DeFiChain will not be subjected to ID verification as DeFiChain is a fully decentralized blockchain with on-chain governance.

Source link