Bitcoin network’s most prosperous blockchain DeFiChain is a decentralized proof-of-stake platform created as a hard fork to enable advanced DeFi applications. DeFiChain ensures faster, smarter, and more transparent financial solutions with exclusive features such as decentralized loans and assets, liquidity mining, etc.
DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.
DeFiChain Adds New Tokens
Developed by the DeFiChain Foundation to bring DeFi to the Bitcoin network, the platform has evolved into the world’s leading blockchain. It has further enhanced its DEX by adding four new decentralized tokens aka dTokens. These include: $dWMT (Walmart), $dUL (Unilever), $dUSO (US Oil Fund), and $dUNG (US Gas Fund).
It is worth noting that DeFiChain allows users extensive accessibility to their favorite assets without imposing any geographical restrictions. As per DeFiChain’s marketing VP, Benjamin Rauch, the new additions are community driven because currently, commodities are a hot topic so the community decided to add two commodity-related tokens. This showcases the power of decentralization.
“On DeFiChain everybody can participate in building the financial tools of tomorrow.”
Benjamin Rauch
What are the Benefits of new dTokens?
A dToken has many diverse use cases. Such as it can be held for investment, liquidity mining, ad traded on the DEX. Millions of users globally yearned for a way to invest in US stocks as they couldn’t do so due to trading and geographical limits. Now they can get price exposure to their preferred asset by buying or minting relevant dTokens.
With the addition of these dTokens, users can mint/trade decentralized assets and get price exposure to the ETFs and stocks without exiting the DeFi platform. Moreover, they can buy dTokens at a fraction of regular prices on DeFiChain’s DEX. The network already offers tokens corresponding to Tesla, S&P 500, Alibaba, Apple, Nasdaq 100, GameStop, Microsoft, Amazon, Nvidia, Meta, Netflix, and several other ETFs and stocks.
How to Mint dTokens?
Minting dTokens on the DeFiChain network is done through depositing BTC, USDT, DFI, dUSD, or USDC as DeFiChain Vault collateral. However, since these tokens aren’t securities given by the company, stockholders won’t get ownership, dividends, voting rights, or similar other benefits.