Gain Access to US Stocks and Commodities via Newly Launched dStock DeFiChain Tokens


Decentralized Finance Chain (DeFiChain) is a decentralized blockchain platform that aims to enable fast, smart, and secure decentralized finance applications. Its goal is to provide full DeFi capabilities to the Bitcoin ecosystem.

The DeFiChain network uses a hybrid proof-of-stake/proof-of-work system for its governance and is anchored to the Bitcoin blockchain through Merkle Roots. Transactions on the DeFiChain network are executed quickly and smoothly at low transaction fees and have greatly reduced the risks of smart contracts failing due to errors.

Until a couple of days ago, DeFiChain supported tokenized Bitcoin, Ethereum, Tether, Litecoin, and Bitcoin Cash on its decentralized exchange, allowing liquidity mining for these tokens.

New dTokens on DeFiChain

DeFiChain has now listed an additional four cryptocurrencies on its decentralized exchange. These include Walmart ($dWMT), Unilever ($dUL), US Oil Fund ($dUSO), and US Gas Fund ($dUNG).

It allows users to speculate on the prices of their favorite assets without geographical restrictions, which is a serious alternative to the conventional financial brokerage firm.

Users will now be able to mint and trade these decentralized assets for price exposure to stocks and ETFs without ever leaving the DeFi platform. They can also buy fractions of dTokens on the DeFiChain Decentralized Exchange (DEX). DeFiChain already allows users to buy fractional dTokens at prices equivalent to the S&P500, Tesla, Apple, Alibabacom, GameStop, Nasdcaqh 100, Nvidia, Amazon, and Microsoft.

As DeFiChain Accelerator VP of Marketing Benjamin Rauch said, it was a community-driven decision to list tokenized products. This further emphasizes the spirit of this blockchain that is firmly based on its community.

Who benefits from this?

Users from all over the world, especially those outside the US Due to geographical limitations, stock market regulations and other factors, millions of people around the world were unable to buy US stocks. They would now be able to access these shared resources through crypto tokens.

A dToken can be purchased as an investment, traded through the DeFiChain exchange, or used to mine liquidity on the DeFiChain exchange. Users can mint tokens on the DeFiChain chain by depositing BTC, DFI, USD, Tether (USDT), or USDC as collateral in the DeFiChain vault.

These tokens are not securities: they do not give their holders any rights of ownership, voting, payment of dividends or other benefits available to shareholders.

Instead of tracking and reflecting actual market value, dTokens tracks and reflects a variety of variables and leverages oracles to capture those values.

How does DeFiChain work?

Decentralized Finance Chain (DeFiChain) is an open source protocol for building decentralized finance applications. It was created by the DeFi Accelerator team with the goal of bringing DeFi to Bitcoin. Since Bitcoin has the largest market capitalization among cryptocurrencies, having DeFi built in can be very beneficial.

With its hybrid PoS/PoW mechanism, DeFiChain makes it easy for anyone to participate in the development of the protocol.

An added feature of the DefiChain ecosystem is that you can take advantage of the increased security provided by the Bitcoin blockchain. Since DefiChain is designed to be secure, users can enjoy lower transaction fees and faster transactions than using Ethereum.

This particular ecosystem allows the trading of various types of digital assets, including tokenized versions of Dogecoin (DOGE), Tether (USDT), Litecoin (LTC), Bitcoin (BTC), and Ether (ETH). It also offers support for decentralized exchange services and allows users to earn money through yield farming of its native token, DefiCoin (DFI).

The infrastructure on which this decentralized finance (DeFi) ecosystem is based has already been directly integrated with the CakedeFi platform, making it easy to generate passive income from your cryptocurrency investments. The DeFi chain token is called DFI.

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CaptainAltcoin writers and guest post authors may or may not have a personal interest in any of the projects and businesses mentioned. None of the content on CaptainAltcoin is investment advice or a substitute for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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