DeFiChain, a DeFi platform for the Bitcoin ecosystem, today announced that rewards for its native token DFI will be launched on KuCoin, a leading cryptocurrency exchange company.
All DFI bets on KuCoin are made available in the Pool-X platform, which gives customers the flexibility to add and pool their DFI, and withdraw at any time.
“We are delighted to offer our clients the opportunity to earn rewards on their DFI assets. It provides a simple, accessible and straightforward way for them to increase their crypto wealth and is part of our commitment to making crypto more accessible to everyone, ”added a KuCoin representative.
The deployed DFI will be held on the KuCoin platform, using the exchange’s internal custody solution. When KuCoin deploys a digital asset, it is delegated by the exchange, meaning the tokens remain under the control of the platform and are in the same way as other tokens.
This month, the DeFiChain community voted for a DFI coin burn from Cake DeFi – a strategic partner of DeFiChain – worth approximately $ 500 million, which subsequently led to a price hike from DFI.
Speaking of the coin burn, U-Zyn Chua, principal investigator and CTO of DeFiChain, said, “This is a major step towards further decentralization of DeFiChain, which, together with the DeFiChain Pink Paper, brings us one step closer to our ultimate goal. I trust this will pave the way for us to have great on-chain governance for fulfilling a secure, robust and vibrant native DeFi blockchain jointly owned by its users. “
In addition to the coin burn, DeFiChain recently released its Q1 2021 Transparency Report and the updated, live Pink Paper, outlining the latest developments and innovations expected to launch later this year.
Julian Hosp, Chairman of DeFiChain, said of the launch of DFI strike on KuCoin: “With yields and returns on savings accounts in all areas remaining in single digits and low digits, the commitment of DFI provides users with an alternative way to earn rewards on the digital assets on their accounts. “