It’s been a long time coming, but DeFiChain, the world’s most popular blockchain on the Bitcoin network, has finally made the Fort Canning Road hard fork happen. It took place at 4:36 AM CEST on Monday, April 11th, at a block height Height of 1,785,960.
dtokens were being sold at a high price because the Fort Canning Road hard fork marked the start of code changes that would make them cheaper. Because there was always a lot of demand for the dTokens, they were trading at a 10-15% premium over the prices of the stocks on which they were based. didn’t want to buy dTokens for long because of it.
It will make dTokens more appealing to investors and make it easier for DeFiChain to be used in the future, said U-Zyn Chua, the lead researcher at DeFiChain. In addition, futures contracts offer profitable arbitrage opportunities for traders who want to make money.
The dTokens are decentralized assets that are created on the DeFiChain blockchain. They mimic the prices of real-world stocks by tracking and reflecting a number of different variables, and using oracles to get those feeds from the DeFiChain network. They let people get a look at the price of the underlying assets without having to be in the same place or be able to trade them.
For example, the Fort Canning Road hard fork brings futures contracts that will keep the dToken prices from going up or down by more than 5%. People who use DeFiChain can make money if the price of a dToken is more than 5% off from the real price. It’s because once a week, or every 7*288 blocks, the price of each dToken is brought into the +/- 5% range of the price of the stock for which it’s being sold.
Earlier this year, DeFiChain is going to be able to trade Futures and Options. This gives you a taste of what to expect. Instead of artificially burning tokens and risking the system becoming full of tokens that aren’t safe, DeFiChain offers futures-like trades. To solve the problem of dTokens being more expensive than their real-world counterparts, the new feature in the Fort Canning Road update is only going to make them less expensive.
Another big change coming with the Fort Canning Road is that DeFiChain’s own stablecoin, dUSD, will be treated the same as the 50% DFI that must be kept in vaults at a fixed price of $0.99. When users want to make new dTokens, they no longer have to give at least 50% of the collateral in the form of DFI in order to do so. Now, they can make new dTokens by giving only dUSD as collateral for the new coins. In the DeFiChain blockchain, DFI is the token that is used to buy and sell things.
A dToken can be kept as an investment, traded on the DeFiChain DEX, or used to mine Liquidity on the DEX. In order to make dTokens on the DeFiChain blockchain, users need to deposit BTC or DFI or dUSD as collateral in the DeFiChain Vault. Minting isn’t the only way to own assets that aren’t controlled by anyone else. There are other ways to own them, too. dTokens can also be bought by users on the DeFiChain DEX, even if they are small pieces.
