DeFiChain, the Bitcoin-based DeFi platform, has listed its native DFI token on the Huobi Global exchange. At 6:00 a.m. UTC on July 25th, Huobi began trading the token against the USDT. In addition, the exchange supports withdrawals as of the 26th of July at 07:00 (UTC). Traders and investors who purchase DFI on Huobi will have the ability to move the token to their wallet on DeFiChain or to any other location of their choosing.
Why does the listing matter to DeFiChain?
By using the DFI token, anyone can participate in DeFiChain. The DeFiChain blockchain relies on it for all of its operations. It is the platform’s reward token, provides liquidity, staking for blockchain consensus, collateral to mint or borrow stock tokens and the dUSD stablecoin, as well as the governance token of the platform.
With each new listing, DeFiChain’s native decentralized finance ecosystem becomes more accessible to the general public. Therefore, the addition of Huobi to the ecosystem is a significant development. In addition to Huobi Global, the DFI token is already trading on Kucoin, Bybit, Bittrex, Hotbit, Bitpanda and Bitrue.
DeFiChain was created as a hard fork from the Bitcoin network in order to support advanced DeFi applications. It is a decentralized Proof of Stake blockchain. Staking, mining for liquidity, decentralized assets, and decentralized loans are some of the services it provides. Its goal is to make DeFi services faster, smarter, and more transparent. The DeFiChain Foundation’s goal is to bring DeFi to the Bitcoin ecosystem. Therefore, this is important because it aligns with that goal.
“We are happy that more and more big exchanges list DFI. Due to the variety of real world assets available on DeFiChain, more and more top tier exchanges are looking forward to listing DFI”, said Benjamin Rauch, Marketing Director at DeFiChain Accelerator.