DeFiChain, the world’s leading blockchain built on the Bitcoin blockchain has announced that it has added four new decentralized tokens (dTokens) after a Ticker voting by the community. The four newly added dTokens are based on four assets namely Walt Disney Co, iShares MSCI China ETF, Intel Corporation, and MicroStrategy Incorporated.
The tokens shall be denoted as follows:
- $dINTC – Intel Corporation
- $dMCHI – iShares MSCI China ETF
- $dDIS – Walt Disney Co
- $dMSTR – MicroStrategy Incorporated
Following the addition of the four new dTokens, the Lead Engineer at DeFiChain, Prasanna Loganathar said:
“DeFiChain is continuously expanding the dToken universe to give users a serious alternative to the traditional financial broker – all whilst offering the flexibility and benefits of decentralization.”
Importance of dTokens to DeFi users
DeFiChain’s dTokens only allow users to have price exposure rather than ownership of the corresponding assets.
Besides the four newly added dTokens, DeFiChain already offers dTokens for Microsoft, Nvidia, Tesla, Meta, S&P 500, Apple, GameStop, Alibaba, Nasdaq 100, Amazon, and Netflix, among others.
The DeFiChain community is the one that decides which dTokens should be added and they do so by voting just as they did with the four that have been newly added.
Apart from the four decentralized tokens that were voted for, there were others that were not voted for and they include dTokens for Mastercard Inc, PayPal Holdings Inc, Nintendo Co Ltd, Uber Technologies Inc, and Twitter among others.
DeFiChain is the only blockchain that offers decentralized assets on the Bitcoin network.
Using the dTokens
DeFiChain’s dTokens are not “securities.” Therefore, they only give users price exposure but not ownership, dividends, voting rights, or other benefits available to the stockholders of the associated companies.
Instead of tracking and reflecting the actual stock price, dTokens track and reflect a number of variable factors which are captured using oracles. That is why the price of dTokens may differ from the price of the underlying asset.
A dToken can either be traded on the DeFiChain DEX, be held as an investment, or be used for Liquidity Mining on the DeFiChain DEX. DeFiChain users can mint dTokens on the DeFiChain blockchain by depositing BTC, USDT, USDC, DFI, or dUSD as collateral in the DeFiChain Vault.
Besides minting, users can also own dTokens by buying them on the DeFiChain DEX.