DeFiChain Adds Four New dTokens to its Network

DeFiChain Adds Four New dTokens to its Network
DeFiChain Adds Four New dTokens to its Network

DeFiChain has added four new decentralized tokens (dTokens) to its network in response to a Ticker Voting by the community. The four dTokens are $dDIS – Walt Disney Co, $dMCHI – iShares MSCI China ETF, $dMSTR – MicroStrategy Incorporated, $dINTC – Intel Corporation. 

DeFiChain is a leading Bitcoin-based blockchain dedicated to bringing decentralized financial applications and services to all. DeFiChain users can now mint and trade these tokens which received the most support from the community. 

The blockchain already offers dTokens corresponding to the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta, and many other stocks and ETFs. The availability of these tokens means users will gain when the prices of the corresponding assets appreciate.

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,” said Prasanna Loganathar, the Lead Engineer at DeFiChain.”

The ability to offer decentralized assets on the Bitcoin network is what sets DeFiChain apart. Unlike securities issued by a large company or institution, the dTokens give users price exposure but not ownership, voting rights, dividends, or other benefits available to stockholders.

They track and reflect some variables that oracles capture the feeds, therefore their prices may not always reflect the prices of the underlying assets due to changes in supply and demand. 

Apart from tracking the prices of underlying assets, dTokens can be held as an investment, traded on the DeFiChain DEX, or used for Liquidity Mining on the DEX. to own dTokens, users can deposit BTC, DFI, dUSD, USDT, or USDC as collateral in the DeFiChain vault to mint dTokens. They can also buy them even in fractions on the DeFiChain DEX and use them for liquidity mining to earn more.

With dTokens, it is possible for users from any part of the world to invest in U.S stocks without any restrictions and can mint or buy the dTokens of the corresponding assets to get exposure to their prices. As a fully decentralized blockchain, users are not required to complete any form of KYC to gain access to dTokens. DeFiChain plans to introduce more innovative features in the future to make its platform more useful to its users.

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