DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, announced on Monday, that its DFI token would be listed on the Gate.io exchange.
According to the press release shared with Cryptowisser, the team said this latest development is a major step in DeFiChain’s mission to make DFI accessible to investors worldwide.
Gate.io is one of the world’s biggest exchanges and supports the most cryptocurrencies of any exchange. DeFiChain said the DFI token (ERC-20 version) would start trading on Gate.io at 10 am UTC on September 26th.
In the beginning, it will trade against USDT, though Gate.io could bring a DFI/BTC pair as well in the near future. The native version of DFI will become available on the platform in late October.
The team added that purchasing the token on Gate.io will enable users to transfer DFI to any compatible wallet the user wants. Furthermore, it gives users access to the entire DeFiChain ecosystem, including decentralized stock tokens.
In addition to Gate.io, the DFI token is already available for trading on Huobi, Kucoin, Bybit (ERC-20 format), Bittrex, Bitrue and Hotbit. Each additional listing makes it easier for investors to enter the world of native decentralized finance on DeFiChain.
While commenting on this latest development, Benjamin Rauch, VP Marketing DeFiChain Accelerator, said; “We are extremely happy that the DFI token can now be traded on Gate.io and more and more people are able to access the no. 1 DeFi blockchain on Bitcoin.”
The team added that the DFI token opens up the world to the DeFiChain ecosystem. The token is crucial to all the activities on the DeFiChain blockchain, including:
- Providing liquidity in multiple pools
- Staking for blockchain consensus and security
- As collateral to mint or borrow stock tokens and the dUSD stablecoin
- As a reward token
- As the governance token of DeFiChain
DeFiChain added that it is the only blockchain to offer decentralized assets on the Bitcoin network. The network offers users flexibility and benefits of decentralization. Its users can mint and trade dTokens to get price exposure to stocks and ETFs without leaving the DeFi ecosystem. They can also purchase dTokens on the DeFiChain DEX.
DeFiChain is a fully decentralized blockchain with on-chain governance. Over the past two years, the project has seen enthusiastic involvement from the community in various aspects of the blockchain, including, masternodes, projects, tools, governance, economic ideas, and code governance.
DeFiChain’s codebase has been developed in an open-source manner, and is widely peer-reviewed and discussed by many, the team added.