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DeFiChain is indeed a decentralized POS blockchain which is focused on decentralized financial apps. It enables the dApps to use bespoke transactions, often referred as Decentralized Finance transactions, to incorporate more additional features (DfTx). Today, DeFiChain announced the listing of its DFI token on Gate.io, one of the world's leading cryptocurrency exchanges. This is a major step in DeFiChain's mission to make DFI accessible to investors worldwide.
Gate.io is one of the world's biggest exchanges and supports the most cryptocurrencies of any exchange. The DFI token (ERC-20 version) will start trading on Gate.io at 10am UTC on September 26th. Initially, it will trade against USDT, though Gate.io could bring a DFI-BTC pair as well in the near future. The native version of DFI will become available on the platform in late October.
The DFI token opens up the world to the DeFiChain ecosystem. It is at the core of all activities on the DeFiChain blockchain including:
Purchasing the token on Gate.io will not only allow users to transfer DFI to any compatible wallet the user wants but it also gives them an access to the entire DeFiChain ecosystem including decentralized stock tokens. The DFI token is also available for trading on other crypto exchange platforms like Huobi, Kucoin, Bybit (ERC-20 format), Bittrex, Bitrue and Hotbit. Each additional listing makes it easier for investors to enter the world of native decentralized finance on DeFiChain.
"We are extremely happy that the DFI token can now be traded on Gate.io and more and more people are able to access the no. 1 DeFi blockchain on Bitcoin." Said Benjamin Rauch, VP Marketing DeFiChain Accelerator.
DeFiChain is a blockchain platform built to leverage the potential of decentralized finance within the Bitcoin network. DeFiChain is supported by a network of nodes or computers to facilitate fast and low-cost transactions. It also aims to resolve issues relating to security, decentralization, and scalability. Launched in 2019, DeFiChain was created to offer financial services including lending, borrowing, and investing. As it is a decentralized platform, no single authority controls the network.
Among other things, DFI provides liquidity in multiple pools, staking for blockchain consensus and security, as collateral to mint or borrow stock tokens and the dUSD stablecoin, and as a reward token. All DEX rewards are paid out in DFI, which also serves as the governance token of DeFiChain.
Within the DeFiChain environment, the DFI coin is a crucial monetary unit. The $DFI is mainly used more as a charge for the conducted transactions as well as governance upon chain enhancement suggestions. By furthermore, the DFI is utilized to create fresh coins on DCT as well as to propose community suggestions.
The DeFi Chain's utility coin, DFI, would be issued by the DeFiChain Foundation with a lifetime cap of 1.2 billion. There would only be 1.2 billion DFIs generated.
The platform is a collaborative initiative. There are no ICOs; just free airdrops are available. DFI has been used to pay a fee for all DeFiChain operations involving smart contracts, comprising fee payments for decentralized trading activities, token exchanges, DeFi services, DEX fees, as well as ICX costs.
DFI could also be utilized as collateral on DeFiChain to loan other assets of the cryptocurrencies. On DeFiChain, members will receive prizes whenever they mint a blog.
Gate.io is one of the oldest crypto-to-crypto exchange from China operating since 2013. After being rebranded to Gate.io in 2017, it is one of the fastest-growing crypto platforms with a leading Initial Exchange Offering (IEO) platform, numerous cryptocurrencies, margin trading with leverage, and other advanced financial services like margin lending or borrowing. Despite having a powerful trading engine, the platform interface feels somewhat cluttered as is generally not the best starting place for inexperienced investors.
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