DeFiChain
DFI is the native currency of the DeFiChain used for gas fees and governance.
- DeFiChain
- Market Cap: $57.6M
- Fully Diluted Valluation: $79.2M
- FDV / MC: 1.4
- Ranking inside Exponential (excluding stables): #75
- Circulating Supply: 872,181,185
- Total Supply: 1,200,000,000
- Volume (24H): $846.6K
- ATH: $5.61 (12/06/2021)
- ATL: $0.06 (04/19/2024)
DFI is a low-cap asset that represents the protocol`s native governance or utility token. This asset is exposed to the underlying risks of DeFiChain DEX, a protocol rated as Watch out.
DFI has a fixed supply.
DFI is moderately correlated to the overall market.
DeFiChain DEX
What is DFI used for?
DFI is primarily used as the native blockchain currency to pay for gas fees within the DeFiChain ecosystem. It is also used for governance so the community can vote on improvement proposals. Lastly, DFI can be used to create new tokens on DeFiChain, or DCT tokens. Any user can create new tokens for a fee of 100 DFI.
DFI tokenomics
DeFiChain did not have an initial coin offering (ICO) nor did it conduct any sales rounds. At genesis, 288M DFI tokens were allocated to the Foundation treasury and locked until needed. Staking rewards for validators also started at launch with 2.7M DFI tokens emitted per week, followed by mining rewards shortly after at 2M DFI per week. The supply schedule is expected to drop by roughly 20% per year and have a decreasing inflation rate over time. DeFiChain also has an inflation control mechanism where all transaction fees are currently burnt.
How does DFI accrue value?
DFI accrues value as it is the primary token used to pay for fees for all transactions and smart contracts on DeFiChain. DFI is also required to provide liquidity on the DeFiChain DEX for certain pools. To become a validator on the network, a minimum of 20K DFI is required to run a masternode. Lastly, DFI can be used as collateral to borrow other crypto assets.
