April 7, 2022 – Singapore, Singapore
The four new decentralized tokens will give users price exposure, not ownership, to the underlying stocks and ETFs without any restrictions.
DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, is thrilled to announce that it has added four new decentralized assets aka dTokens following a ticker voting by the community. In the DeFiChain ecosystem, the community decides which dTokens will be added next.
The newly added dTokens are as follows.
- dDIS Walt Disney Co
- dMCHI iShares MSCI China ETF
- dMSTR MicroStrategy Incorporated
- dINTC Intel Corporation
DeFiChain users will now be able to mint and trade the above dTokens. These four assets received the most support from the community members. Other options they could vote on included MasterCard Inc, Nintendo Co LTD, PayPal Holdings Inc, Twitter Inc, Uber Technologies Inc and more.
The addition of new dTokens marks a major step toward enabling DeFi users to benefit from the price appreciation of traditional assets such as stocks, bonds, commodities, ETFs, etc. DeFiChain 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.
Prasanna Loganathar, lead engineer at DeFiChain, said,
“DeFiChain is continuously expanding the dToken universe to give users a serious alternative to the traditional financial broker all while offering the flexibility and benefits of decentralization.”
Decentralized assets are one of the most innovative and revolutionary products of DeFiChain. In fact, DeFiChain is the only blockchain to offer decentralized assets on the Bitcoin network.
The dTokens are not ‘securities’ issued by a company or a large institution meaning they give users price exposure but not ownership, voting rights, dividends or other benefits available to stockholders. Rather than tracking and reflecting the actual stock price, the dTokens track and reflect a number of variable factors and use oracles to capture those feeds. The price of dTokens may not always mirror the underlying asset’s price because of fluctuations in the supply and demand of dTokens.
A dToken can either be held as an investment, traded on the DeFiChain DEX or used for liquidity mining on the DEX. Users can mint dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT or USDC as collateral in the DeFiChain Vault.
Minting is not the only way to own decentralized assets. Users can also buy dTokens even in fractional pieces on the DeFiChain DEX and then put them toward liquidity mining for additional passive income. All dTokens are freely denumerable and can be transferred to other people worldwide without involving an intermediary.
Millions of users from around the world who couldn’t invest in the US stocks due to geographical restrictions, trading limits and other issues could get price exposure to their favorite assets by minting or buying the relevant dTokens.
DeFiChain will continue to list popular assets decentrally, as well as introduce innovative additional features in due course. Being a fully decentralized blockchain with on-chain governance, interested parties are not required to complete identity verification to be able to hold decentralized stock tokens on DeFiChain.
About DeFiChain
DeFiChain is a decentralized proof-of-stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.
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This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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