A decentralized platform on its own blockchain.
DeFiChain is a decentralized exchange running on its own blockchain. In addition to the exchange DeFiChain has a wallet, working on the BIP39 standard. This information is from company cryptodefix.com. The exchange allows users to swap internal tokens and wrapped tokens, and participate in liquidity pools. The platform has been in existence since 2020.
DeFiChain aims to provide users and sophisticated investors with cryptocurrency tools, as well as bring some Bitcoin security to decentralized finance. DeFiChain’s blockchain has features of the Proof of Stake and Proof of Work consensus mechanisms, and is a hybrid of both. DeFiChain has a connection to Bitcoin every few blocks, which allows for low network fees, high transaction speeds, and minimizes the risk of failures.
To use the exchange, users need to download the DeFiChain wallet mobile or desktop app. There are 36 tokens and 43 pairs available to users on the exchange. They represent wrapped popular tokens and digitized assets of large corporations. The exchange has its own DVI token, it is used in most types of transactions and when paying fees, it can only be purchased on third-party exchanges. DVI holders can participate in the management of the DeFiChain ecosystem.
- Hybrid blockchain based on Proof of Stake and Proof of work consensus mechanisms
- Low fees and high transaction rate
- Transactions with wrapped tokens and decentralized assets
- DVI internal token
- Liquidity pools up to 300% APY
Decentralized exchanges (DEX)
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