DeFiChain, a unique decentralized finance instrument on the top of Bitcoin (BTC) network, introduces four new dTokens
DeFiChain, a decentralized finance (DeFi) protocol based on Bitcoin (BTC) consensus fork and Proof-of-Stake (PoS), shares details of a crucial addition to its asset list.
From Walt Disney to Chinese ETF: New assets on DeFiChain
According to the official announcement shared by DeFiChain, it added four new decentralized tokens (or dTokens) following a recent community referendum.
Each dToken is associated with a stock or an ETF. This addition includes tokens representing Walt Disney, iShares MSCI China ETF, MicroStrategy Incorporated, and Intel Corporation.
As such, crypto enthusiasts get exposure to the fluctuations of the value of “underlying” corporations. At the same time, these assets should not be considered tokenized stocks as they do not constitute ownership, voting rights, dividends or other benefits available to shareholders.
The prices of dTokens do not necessarily reflect those of the associated stocks and ETFs: rather they reflect a number of variable factors and use oracles to capture these flows.
Prasanna Loganathar, the lead engineer at DeFiChain, stresses that this release is of particular importance to crypto adoption and the maturation of tokens markets:
DeFiChain is continuously expanding the dToken universe to offer users a serious alternative to the traditional financial broker – while offering the flexibility and advantages of decentralization.
More use cases for dTokens
Previously, DeFiChain integrated tokens associated with the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta and other mainstream platforms.
Unlike regular stocks, dTokens can be used in various DeFi mechanisms: users can stake them, use them for liquidity mining, transfer them without limits, etc.
Last but not least, DeFi enthusiasts can mint dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT or USDC as collateral.
