DeFiChain unveils four new dTokens corresponding to Walmart, Unilever, US Oil Fund, and US Gas Fund
Back in August, we covered DeFiChain after Bitcoin pioneers added four new decentralized tokens (dTokens) to its growing list of digital assets. The newly added dTokens included $dJNJ – Johnson & Johnson, $dDAX – Global X DAX Germany ETF, $dADDYY – Adidas AG – ADR, and $dGS – Goldman Sachs Group Inc. Since our last story, the DeFiChain team continues to push boundaries and is now out with their new dTokens.
Today, DeFiChain announced the addition of four new decentralized tokens to its decentralized exchange (DEX). The newly added dTokens are: $dWMT (Walmart), $dUL (Unilever), $dUSO (US Oil Fund), and $dUNG (US Gas Fund). The new dTokens give users price exposure to their favorite assets without geographical restrictions, a serious alternative to the traditional financial broker,
With this launch, users will now be able to mint and trade these decentralized assets to get price exposure to the stocks and ETFs without leaving the DeFi ecosystem. They can also buy dTokens – even in fractional pieces – on the DeFiChain DEX. 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.
For those of you who may not be familiar with dTokens, DeFiChain dTokens are decentralized tokens that allow you to get price exposure to Decentralized Assets (or cryptocurrencies) on DeFiChain. These dTokens can be created (minted) by anyone on the DeFiChain blockchain, simply by first locking a minimum of 50% DFI (with the option to add more in BTC, USDT, and USDC) into a vault.
Commenting on the launch, Benjamin Rauch, VP of Marketing at DeFiChain Accelerator, said, “New listings on DeFiChain are driven by the community. Since commodities are a hot topic right now, the community decided to list two commodity-related tokens, which shows the real power of decentralization. On DeFiChain everybody can participate in building the financial tools of tomorrow!”
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.
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.
Millions of users from around the world who couldn’t invest in 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 is a fully decentralized blockchain with on-chain governance. Since its mainnet launch in May 2020, the project has seen an enthusiastic involvement from the community in almost all aspects of the blockchain, from masternodes, projects, tools, governance, and economic ideas, to code governance. Its codebase has been developed in an open-source manner, and is widely peer-reviewed and discussed by many.
Launched in 2019, DeFiChain is the world’s leading blockchain on Bitcoin with over $658 million in Total Valued Locked (TVL). DeFiChain was created to offer all the DeFI benefits including lending, borrowing, and investing. DeFiChain also offers full transparency and no single authority controls the network. Supported by a network of nodes or computers to facilitate fast and low-cost transactions, DeFiChain aims to resolve some of the common issues relating to security, decentralization, and scalability.