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DeFiChain Adds New Tokens Associated with MicroStrategy, Intel, Walt Disney

Companies
Thu, 04/07/2022 - 16:07
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Vladislav Sopov
DeFiChain, a unique decentralized finance instrument on the top of Bitcoin (BTC) network, introduces four new dTokens
DeFiChain Adds New Tokens Associated with MicroStrategy, Intel, Walt Disney
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DeFiChain, a decentralized finance (DeFi) protocol based on the fork of Bitcoin (BTC) and Proof-of-Stake (PoS) consensus, shares the details of a crucial addition to its assets list.

From Walt Disney to Chinese ETF: New assets on DeFiChain

According to the official announcement shared by DeFiChain, it added four new decentralized tokens (or dTokens) following a recent community referendum.

Each dToken is associated with some stock or ETF. This addition includes tokens representing Walt Disney, iShares MSCI China ETF, MicroStrategy Incorporated and Intel Corporation.

As such, crypto enthusiasts get exposure to the fluctuations of the value of "underlying" corporations. At the same time, these assets should not be considered tokenized stocks as they do not constitute ownership, voting rights, dividends or other benefits available to shareholders.

dTokens' prices do not necessarily mirror those of associated stocks and ETFs: instead, they reflect a number of variable factors and use oracles to capture those feeds.

Prasanna Loganathar, the lead engineer at DeFiChain, stresses that this release is of particular importance to crypto adoption and the maturation of tokens markets:

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.

More use cases for dTokens

Previously, DeFiChain integrated tokens associated with the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta and other mainstream platforms.

Unlike clasisic stocks, dTokens can be used in various DeFi mechanisms: users can stake them, use them for liquidity mining, transfer them without limitations and so on.

Last but not least, DeFi enthusiasts can mint dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT or USDC as collateral.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)