DeFiChain

Learn About the DeFiChain & Take a Short Quiz to Earn $DFI

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## What Is DeFiChain (DFI)?

[DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) is a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) platform built with the mission of maximizing the full potential of [DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) within the [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to [problems](https://coinmarketcap.com/alexandria/glossary/blockchain-trilemma) like scalability, security and decentralization.

The project was launched in the fall of 2019 with the aim of offering financial services that commercial banks typically provide (borrowing, lending, investing, keeping funds). Yet there is a key difference between DeFiChain and a banking network: DeFiChain is a [decentralized](https://coinmarketcap.com/alexandria/glossary/decentralized) platform. This provides a number of advantages: authorities and entities cannot control the network and anyone has the right to participate in the launch of the network [protocol](https://coinmarketcap.com/alexandria/glossary/protocol). All actions support the entire network and participants in the process receive DFI tokens.

The DeFiChain platform ensures fast, transparent and decentralized financial services. The project is built on Bitcoin as a software [fork](https://coinmarketcap.com/alexandria/glossary/fork-blockchain) and is tied to the Bitcoin blockchain using a [Merkle](https://coinmarketcap.com/alexandria/glossary/merkle-tree) root every few blocks. DeFiChain transactions are non-Turing complete, which makes them fast and smooth, with low [gas](https://coinmarketcap.com/alexandria/glossary/gas) costs and a reduced risk of smart contract errors.

DeFiChain’s initial functions and products include: lending, token wrapping, pricing oracles, exchanges, asset tokenization, distribution of dividends, and more.

Who Are the Founders of DeFiChain?

The DeFiChain Foundation owns all [DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) trademarks and domains. The organization is responsible for developing the ecosystem, forging new partnerships, guiding the development of tools for partners, and overseeing DFI funds. 

At the origins of the project are two key figures: Dr. Julian Hosp and U-Zyn Chua. 
Hosp is an influential and authoritative specialist in the crypto industry, with a large following around the world. He is also the co-founder and CEO of Cake DeFi.

U-Zyn Chua, fellow co-founder of Cake DeFi, serves as chief technical officer (CTO) and researcher at DeFiChain. Chua is also chief engineer at Zynesis and a blockchain advisor to the Singapore government.

What Makes DeFiChain Unique?

There are two towering blockchains in the crypto industry: [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC) and [Ethereum](https://coinmarketcap.com/currencies/ethereum/) (ETH), both of which have inspired the emergence of decentralized finance. However, these early innovations have their limitations: Bitcoin has a long-standing reputation for security, yet can only support basic BTC transactions. As for Ethereum, developers can create applications to perform more complex transactions, yet the network has problems with scalability.

This is where [DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) comes in, aiming to tackle challenges like scalability, security and fair governance. The solutions it proposes are as follows:



* Building a blockchain platform for DeFi use cases, which is based upon Bitcoin in order to ensure a high level of security.
* Using a hybrid [proof of stake](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos) (PoS)-[proof of work](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow) (PoW) consensus mechanism for network operation.

The benefits of DeFiChain therefore include:


* Offering a full suite of financial asset classes to users in a permisonless and borderless manner
* Supporting a wide range of cryptoeconomic financial transactions.
* Offering high throughput for all transactions.
* Achieving a high level of security through its hybrid consensus mechanism and the fact that transactions are non-Turing complete.
* Offering developers the ability to create DeFi apps on one chain.
* Providing a reliable and decentralized governance system.


How Many DeFiChain (DFI) Coins Are There in Circulation?

[DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) is the native unit of account for the DeFiChain platform. The token is utilized both as payment for transaction fees and as a governance tool (i.e., token holders can vote on ecosystem improvements). On top of this, DFI can be used as collateral to borrow other crypto assets.

DFI has a capped supply of 1.2 billion coins. 49% of the total supply was transferred to the DeFiChain Fund and the remaining 51% has been issued to masternode holders (over time). The project didn’t participate in [ICO](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico) or initial exchange offering ([IEO](https://coinmarketcap.com/alexandria/glossary/initial-exchange-offering)) events and the DeFiChain team did not conduct any sales rounds.

How Is the DeFiChain Network Secured?

The [DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) [smart contract](https://coinmarketcap.com/alexandria/glossary/smart-contract) programming language is considered a safe option because it’s non-Turing complete.  In addition, DeFiChain is tied to [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC) for security reasons: every few minutes DeFiChain takes cryptographic snapshots of the current state of the network and stores it on the Bitcoin blockchain (the action resembles a backup).

In September 2020, DeFiChain smart contracts were audited by SlowMist and in October of that year by KnownSec. No vulnerabilities were found.

DeFiChain’s final layer of security is its hybrid [PoW-PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) consensus mechanism, which takes advantage of the best aspects of each.

Where Can You Buy DeFiChain (DFI)?

[DeFiChain](https://coinmarketcap.com/currencies/defichain/) (DFI) is listed on major cryptocurrency trading platforms like [Bittrex](https://coinmarketcap.com/exchanges/bittrex/). Other options for buying DFI include [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/), [DeFiChain DEX](https://coinmarketcap.com/exchanges/defichain-dex/), [Hotbit](https://coinmarketcap.com/exchanges/hotbit/), [LATOKEN](https://coinmarketcap.com/exchanges/latoken/), [Bitrue](https://coinmarketcap.com/exchanges/bitrue/) and the mobile app from [DFX.SWISS](https://dfx.swiss/).

Another way to get DFI tokens is direct purchase via the [Cake DeFi](https://cakedefi.com/) platform. However, prices can be slightly higher there than on crypto exchanges.

If you are new to [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies), have a look at the CoinMarketCap [blog](https://coinmarketcap.com/alexandria/categories/blog).

Want to better understand crypto terminology? Check out CoinMarketCap's [glossary](https://coinmarketcap.com/alexandria/glossary).


Trust Wallet

MetaMask

Binance Chain Wallet

A #DeFi and #Web3 gateway for #Bitcoin and #Ethereum.

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

Beta Finance

NEOPIN

The Root Network

SaitaChain Coin

Verasity

smARTOFGIVING

DeFi Pulse Index

Zero1 Labs

Rally

Strike

1ex Trading Board

Defactor

GENIUS TOKEN & NFT COLLECTIONS

Vector

Cosmic Network

ChainGPT

SXP is the native utility token of the Solar blockchain. Users can stake it to secure the network and earn rewards, and pay transaction fees on the Solar blockchain. They can also help govern the Solar blockchain by proposing and voting on changes to the protocol, and earn rewards for providing liquidity. Additionally, Solar DApps use SXP as their primary currency.

Solar

APENFT

RACA

Dogelon Mars is a dog-themed meme coin on Ethereum and Polygon. It follows the example of other successful dog coins like Dogecoin, Shiba Inu and Floki Inu.

Dogelon Mars plays on several popular themes in the meme coin space. Its name is a mixture of Dogecoin and Elon Musk, the billionaire entrepreneur who is an outspoken supporter of Doge. It alludes to Mars, a spin on the famous moon meme, implying that Dogelon will experience a massive upward movement. Beyond its tongue-in-cheek name, Dogelon Mars has managed to build a significant community, with more than 300,000 Twitter followers and more than 84,000 followers on Telegram.

Dogelon Mars

Seedify.fund(SFUND) Seedify is a blockchain gaming-focused incubator and launchpad that empowers innovators and project developers through access to funding, community and partnership building, and a full support system to help drive the future of gaming and blockchain. Its ecosystem also includes an NFT launchpad for gaming and metaverse assets, along with the industry's first gaming-and-metaverse-asset-centric NFT marketplace, Seedify NFT Space.

Featuring an IGO launchpad with a tiered allocation mechanism, Seedify enables $SFUND holders to stake their tokens and earn staking rewards while gaining access to quality, procured blockchain gaming projects through private sales and initial game offerings. The launchpad's tier system consists of nine tiers. Tier 1 uses a lottery-based allocation process, while tier 2 to 9 participants enjoy guaranteed allocation.

Along with IGOs, stakers can also participate in initial NFT offerings (INOs) and initial metaverse offerings (IMOs) on Seedify's NFT Launchpad. Additionally, staking $SFUND, gives holders the opportunity to receive tokens from the projects that have been selected and supported by Seedify's incubation program.

Committed to bringing the opportunities offered through blockchain gaming and the play-to-earn model to billions around the globe, the Seedify team has established key relationships with numerous VCs and industry peers, to build an extensive support network for blockchain gaming and metaverse startups.

Interested game industry innovators submit their project proposal to the Seedify

Seedify acts as a launching pad for blockchain games and the disruptive play-to-earn gaming model. The gaming industry is gradually entering a new era — previously gamers may spend large sums of money on in-game items with no direct monetary benefits. However, they are now able to make money by earning in-game item non-fungible tokens (NFTs) and tokens, which is facilitated by the play-to-earn revolution.

Blockchain technology has not only opened up more opportunities for gamers and game developers, but it has also offered additional forms of benefits like transparency, ownership, incentive models and digital ownership through NFTs.

The team behind the Seedify project are pursuing a global goal: to acquaint gamers with the blockchain and increase the rate of technology adoption, attract a huge number of users, create more jobs and financial benefits.

Seedify.fund

MDEX is a new decentralized trading protocol that launched in January 2021.

MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO), which gives it access to the liquidity of the Ethereum ecosystem.

A trading platform built on top of HECO, MDEX has an estimated cost for token swaps at $0.001 for each trade, with a transaction speed of three seconds.

Mdex

Sologenic is disrupting the asset trading industry: Tokenized Securities, Crypto Assets & NFTs.

Sologenic.com and sologenic.org are two separate teams. Sologenic.org aka SOLO Core team’s focus is purely on the expansion of the Sologenic as a decentralized ecosystem while the sologenic.com team are working on the launch of an important use-case of the Sologenic ecosystem: Securities Tokenization

Sologenic

Coin98 is a decentralized finance (DeFi) solution that allows users access to cross-chain swaps, staking and yield farming.

To learn more about this project, check out our deep dive of Coin98.

Coin98 aims to fulfill untapped demand in the industry and become a Gateway bridging TradFi users to any DeFi services on multiple blockchains. It accomplishes this mission through a full suite of products, including Coin98 Wallet, Coin98 Exchange, and Space Gate (cross-chain bridge).

Coin98 Wallet: Allows users to store, send, receive, manage crypto assets and connect to numerous dApps on multiple blockchains. It supports over 40 blockchains such as Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, Terra, etc on both mobile (iOS & android) and Chrome extension versions.

Coin98 Exchange: A multi-chain liquidity aggregator that supports assets across a variety of blockchains, including but not limited to Ethereum, Binance Smart Chain, Solana, Avalanche and Polygon.

Space Gate: A cross-chain bridge that enables swapping and transferring values across multiple networks.

The C98 token is the native utility token of the Coin98 platform and will be used to pay services fees, as staking incentives, for governance, and unique membership rights.

In the Coin98 roadmap, there are plans to develop a launchpad, a lending and borrowing platform, a megafarm, a derivatives market and an NFT marketplace.

In July 2021, Coin98 was a Binance Launchpad project.

Coin98

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

The Sandbox

Biswap (BSW) is a decentralized exchange (DEX) for BEP-20 tokens on Binance Smart Chain (BSC). Biswap promises the lowest transaction fees of any BSC exchange at 0.1% and vows to be committed to innovation in DeFi through its high-quality products and services. Its referral system allows users to invite others and receive referral fees from farms, launch pools, swaps, and a lottery.

Biswap’s core products include the standard DEX functions like an AMM, liquidity pools, yield farming, an NFT marketplace, and an IDO launchpad. In its roadmap, Biswap targets the following:

Listing on major crypto exchanges

Improvements of its NFT marketplace

Cross-chain support

Limit orders

Lending & Borrowing

A personal user dashboard

A swap referral program

Furthermore, Biswap announced a $10 million global incentive program to collaborate with other BSC projects. Partners can expect a 90% fee reimbursement, farming pairs with BSW, a launch pool, marketing promotion, and grants for security audits and project development.

Biswap

The all-new ZKBase platform consists of three main parts: ZKSwap, the innovative Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare, and an NFT minting center and marketplace called ZKSea. With an all-new-look user interface, NFT support, unlimited token listing, smoother withdrawal, optimized efficiency, and multi-chain support, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more layer 2-based products in the near future.

ZKBase

Oasis is the pioneering layer 1 blockchain designed to enable scalability and confidential compute. Oasis is home to Sapphire, the first confidential EVM that empowers Web3 and Decentralized AI developers to build dApps with Smart Privacy natively on Oasis or other EVM-based chains.

ROSE is the native token of the Oasis Network used for gas fees, staking, delegation and governance. With a unique layered architecture, Oasis presents the optimal building and execution environment for DeFi, AI, GameFi, NFTs, the metaverse, data tokenization and DAO governance. Oasis also has native support for rollups at the consensus layer.

Oasis

Starting as an open-source project in 2017, IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives.

With a global team of over 40 research scientists and engineers, IoTeX has built their EVM-compatible blockchain from scratch using the innovative Roll-DPoS consensus and launched in 2019 April, which has been running by 100+ delegates worldwide and has processed more than 10 million transactions already. On top of the IoTeX blockchain, the team has built the essential blocks of infrastructures to connect with Ethereum, BSC, and Heco blockchains such as ioPay wallet (https://iopay.me/) and ioTube bridge (https://iotube.org/), which serve ten thousands of users. IoTeX helps EVM-based DApps scale without concerning expensive gas fees!

Besides, middleware such as Decentralized Identity, Confidential Computing, and Secure Hardware has been built on top of the IoTeX blockchain. This has enabled the creation of self-sovereign devices such as Ucam, and real-world data oracles like Pebble. Ucam (https://ucam.iotex.io/) has been deployed to over 3000 households (http://iott.network/). Meanwhile, Pebble has been launched to more than 300 developers initially, and enables innovative Dapps to connect the physical world with the crypto world, such as real-world NFTs, weather derivatives and machine learning-as-mining.

IoTeX

Perpetual Protocol is a decentralized exchange (DEX) for futures on Ethereum and xDai. Traders can go long or short with up to 10X leverage on a growing number of assets like BTC, ETH, DOT, SNX, YFI and others. Trading is non-custodial, meaning traders always retain possession of their assets, and on-chain. Perpetual Protocol utilizes a virtual automated market maker (vAMM), which provides on-chain liquidity with predictable pricing set by constant product curves. Furthermore, Perpetual Protocol designed its vAMMs to be market-neutral and fully collateralized.

The declared vision of Perpetual Protocol is to create the world’s best, most accessible, and most secure decentralized derivatives trading platform. By building on our DeFi projects and allowing projects to build on Perpetual Protocol, the company embraces the “DeFi money lego” ethos. After hitting a number of milestones in its roadmap, such as launching staking pools and implementing limit and stop-orders, Perpetual Protocol plans to expand to other chains, introduce leveraged tokens, and launch dynamic liquidity in its pools.

Perpetual Protocol

Tokocrypto was launched in September 2018 and became the first entity registered under Indonesia's Commodities Futures Trading Regulatory Agency (BAPPEBTI) by November of that year. Tokocrypto’s latest project, TKO, is the first Indonesian cryptocurrency to offer a unique hybrid token model.

The token serves several purposes on the Tokocrypto blockchain platform and allows users to participate in crypto exchanges, deposit and savings programs, cross-platform DeFi applications, and NFT marketplaces. Toko Token was officially launched in April 2021 and has since attracted the attention of both private and enterprise users. The Tokocrypto platform was created in tandem with Binance, which serves as a significant backing for the project and its future development.

Toko Token

MBOX is the native utility token that is used for:

MOBOX

Polkastarter is a decentralized fundraising platform empowering Web3 projects to launch and raise funds through multi-chain token pools whilst significantly growing their communities.

The platform supports initial dex offerings (IDOs) across major blockchains, including Ethereum, BNB Chain, Solana, Polkadot, Polygon, Avalanche and Celo.

The platform enables investors to secure early access to IDOs, NFTs and Gaming Web3 innovation. It is most commonly used by early-stage blockchain projects that want to raise capital and easily distribute their tokens at the same time.

Through Polkastarter, blockchain projects can easily create their own fixed-chain swap pools, which allow them to securely raise funds, while users can invest without risks, since swaps are automatically executed by smart contracts.

POLS is the native utility token of the Polkastarter platform. Its main utility is gaining access to pools and giving projects the option to give priority access to POLS holders. Users are incentivised to stake POLS, rewarding the most loyal members.

In Q4 2022, Polkastarter will release new community utility features, such as governance and POLS Power Boosters (increasing your allowlisting success). The platform first went live in December 2020, and has quickly grown to become one of the most commonly used platforms for initial DEX offerings (IDOs) operating on the Ethereum blockchain.

Polkastarter

SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens.

SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens.

SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.