Beginner
Intermediate
Advanced

DeFiChain is now live on Cryptology!

December 8, 2023
•

Buy, sell and trade DFI
‍

📈 Spot trading of DFI/USDT is live

What is DeFiChain?

DeFiChain is connecting old and new worlds, bridging Traditional Finance with Decentralized Finance in a fast, intelligent and transparent way. 

Their tailor-made  blockchain platform is built to work within Bitcoin and Ethereum’s ecosystems.

Supported by a distributed network of computers, fast transactions are executed while retaining top level security and decentralization.  

The aim of DeFiChain was to offer banking services to individuals and businesses but this time they are decentralized. This can be through lending, borrowing and holding your funds.

On DeFiChain there are a number of features that enrich the platform:

  • Masternodes - these are community driven and used for staking.
  • DeFiChain DEX - trade, arbitrage and earn crypto.
  • Metachain - used for building dApps on Ethereum and Bitcoin.
  • Block Explorers - DeFiScan and CryptoID offer on-chain analysis tools.

Thanks to interoperability and the unique set up of DeFiChain, a hybrid consensus mechanism is used between Proof of Stake and Proof of Work.

The DeFiChain token

The native token of DeFiChain is DFI.

DFI is used across the DeFiChain ecosystem in their different financial services and platform features to bring the best out of decentralized 

Here are some of the main use cases for DFI token:

  • To govern DeFiChain.
  • Use as collateral when borrowing other assets.
  • Fund Masternodes with DFI to begin staking.
  • Provide DFI for Liquidity Mining and earn additional tokens.

Initial token distribution:

When launched 49% of the max supply of tokens were made available. 

  • 26% - Airdropped
  • 27% -  Burned
  • 47% - Destroyed

Then overtime 51% of the total supply will be delegated to Masternode holders.

DFI’s market stats:

  • Current market cap: $157,011,931
  • Circulating supply: 836,371,928 DFI
  • Max supply: 1,200,000,000 DFI
  • Twitter: 75,249 followers 

‍
Trade DFI

Connect with us

Twitter

Facebook

Telegram

YouTube


Risk Warning

Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Cryptology will make its best efforts to choose high-quality tokens, but will not be responsible for your investment losses. As a digital asset trading platform that respects the community, Cryptology adheres to the principle of truthful, transparent and fair trading, with no malicious intent. We are committed to providing users with a service that is safer, more efficient, and more reliable for the trading of digital assets.

Risk Disclosure Statement

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Katya V.

Katya is one of Cryptology’s skilled content managers and a writer with a diverse background in content creation, editing, and digital marketing. With experience in several different industries, mostly blockchain and others like deep tech, they have refined their ability to craft compelling narratives and develop SEO strategies.