DeFiChain is a decentralized blockchain platform working towards enabling fast, intelligent, and transparent decentralized financial services. The goal of DeFiChain to bring a full set of DeFi products and services to the blockchain ecosystem. The project also hopes to solve the issues with traditional financial services such as slow transactions, lack of privacy, and inaccessibility to many people. As such, the protocol consists of a range of products that cater to this growing market. For example, DeFiChain has lending facilities, decentralized pricing oracles, decentralized exchange, and more.

DFI is DeFiChain’s native currency. Approximately 600,000,000 DFI were issued in 2020.

What are DeFiChain’s key features and how does it work?

The network operates using a hybrid Proof of Stake / Proof of Work consensus mechanism and leverages Bitcoin’s security by anchoring to the Bitcoin blockchain (via Merkle root) every few blocks. Being non-Turing complete, DeFi transactions on DeFiChain flow quickly and smoothly at low gas rates, and have reduced the risk of smart contract errors. One of the key products of the platform of DeFiChain’s Decentralized Exchange. It offers features, such as liquidity mining, decentralized swapping, and arbitrage, that can be access in its DeFi wallet. The platform has many different pools for liquidity mining that offer high yields and the possibility to earn 100% returns. Some other features of the wallet include engaging with and viewing masternodes on the network, support for DFI and any other token within the DeFiChain ecosystem, network selection between Mainnet and Testnet, and more.

What is noteworthy about DeFiChain?

DeFiChain has many partners which add functionality to its platform. This includes:

• Cake DeFi. A staking platform on which users can earn DFI.
• Blockspot.io. A platform for DeFiChain analysis.

How can you used DFI?

The DFI token is an integral part of the DeFiChain ecosystem. It is required to access many of the platform’s services, for example, paying for platform fees, and other DeFi activities. It can also be used as loan collateral, to fund new staking nodes, to create personalized tokens, as well as taking part in governance activities on the platform. 

Where can you buy DFI?

DeFiChain is available to buy from the CEXs and DEXs as listed here. Some of the platforms with the highest levels of liquidity include KuCoin, Bittrex, and LATOKEN. 

DFI price data can be viewed on the charts on this page.