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DeFiChain’s latest addition will, for the first time, allow users to create and trade dTokens on the platform according to the price of German ETFs.
DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, announced Friday, August 26, the addition of four new decentralized tokens. Did.
These new additions allow DeFiChain users to gain price exposure to their favorite stocks and ETFs without geographic restrictions.
DeFiChain added that it will continue to expand the dToken universe to provide users with the flexibility and benefits of decentralization.
According to a press release shared with Coinjournal, the newly added dTokens are:
DeFiChain added that this is the first time a German ETF-backed dToken has been made available for minting and trading on the blockchain. These decentralized tokens allow a user to gain unrestricted price exposure to the underlying stock or his ETFs, rather than ownership.
While commenting on this latest development, DeFiChain Accelerator Vice President of Marketing Benjamin Rauch said:
The more assets available on DeFiChain, the easier it will be to manage investments in a decentralized way. Without the involvement of a central instance.
DeFiChain users can mine and trade these decentralized assets to gain price exposure to stocks and ETFs without leaving the DeFi ecosystem. You can also buy these dTokens on the DeFiChain DEX.
The company added that it already offers dTokens for stocks and ETFs such as the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta and many others.
DeFiChain explains that dTokens are not “securities” issued by companies or large institutions. Therefore, investors only get price exposure to these assets and no ownership rights, voting rights, dividends or other benefits available to shareholders.
dToken tracks and reflects various factors and uses oracles to capture their feed.
The company will enable dTokens to enable millions of people around the world who could not invest in the United States due to geographic restrictions, trading restrictions, and other issues to access the price of their preferred assets through minting or buying on DeFiChain. He added that he will be able to earn exposure. .
DeFiChain is a decentralized proof-of-stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. DeFiChain focuses on liquidity mining, staking, decentralized assets and decentralized loan offerings.
