Question 1

What is it?

Accepted Answer

DeFiChain (DFI) is the native cryptocurrency of the DeFiChain platform, a blockchain specifically dedicated to decentralized financial applications. The platform is designed to bring high transaction capacity, reduced risk of errors, and intelligent feature development to the world of decentralized finance.

The DFI token itself is an integral component of the DeFiChain ecosystem. It is used for transaction fees and serves as the primary asset for staking and liquidity mining on the platform. The DeFiChain platform, on the other hand, is a dedicated network that aims to enable decentralized financial transactions. It is built around the Bitcoin protocol, but with modifications that make it more conducive to high-speed transactions and complex smart contracts necessary for financial activities.

Question 2

What is it used for?

Accepted Answer

The DFI token plays a pivotal role in the DeFiChain platform. It is used to power transactions and smart contracts, participate in governance decisions, and provide liquidity for decentralized exchanges. Users can stake DFI tokens in order to earn rewards and to secure the DeFiChain network.

Beyond that, the DeFiChain platform provides a foundation for a multitude of decentralized finance applications. Its primary use cases revolve around various forms of asset and financial services, such as decentralized exchanges, tokenization of real-world assets, lending services, and yield farming.

Question 3

Who created it?

Accepted Answer

DeFiChain was co-founded by Julian Hosp and U-Zyn Chua. Julian Hosp, an entrepreneur with a background in medicine and a former professional kitesurfer, is also known as the co-founder of TenX, a Singapore-based blockchain company. U-Zyn Chua is a seasoned blockchain developer and the founder of Zynesis, a blockchain consultancy.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	DFI-USDT DFIUSDT	bitrue	D	0.0₃5760USDT	1,59%	105 635,00DFI	4	0.0₃5670USDT	0.0₃5760USDT
2	DFI-USDT DFIUSDT	latoken	D	0.0₃3046USDT	14,77%	0.08000DFI	8	0.0₃2654USDT	0.0₃9799USDT