DeFiChain Blog

2022 was a defining year for DeFiChain, filled with numerous achievements and milestones that would not have been possible without the hard work and dedication of our amazing community and engineering team. Retail investors' adoption of DeFiChain products and the strong developer activity in the DeFi space played a major role in this success. DeFiChain’s goal has always been to provide unique, value-added products that adhere to the highest security standards, and the team plans to continue this commitment in 2023. As we near the end of 2022, it’s time to take a moment to reflect on the exciting updates and accomplishments of this past year. From the launch of new products and features to the continued growth of the DeFiChain community, there have been many highlights to celebrate. The entire DeFiChain team appreciates the support of our amazing community and looks forward to continuing to provide valuable and innovative solutions in the DeFi space. If you would like to learn more ...

With the introduction of On-Chain Governance (OCG) in the Grand Central Hardfork, there will be changes to the requirements for (1) proposal submission, and (2) voting schedule: Proposal submission: Every proposal has to be available on the blockchain for 130,000 blocks (approximately 45 days) before the vote becomes valid. This will be referred to as the proposal ingestion period. Proposal voting period: Upon submission, all proposals are eligible for voting in the next 260,000 blocks (~90 days) . For proposals that have fulfilled the 130,000-block ingestion period, masternodes can vote for them across the next 45 days (130,000 blocks) Refer to the timeline below for an illustration of the standard flow for a proposal submission and voting schedule: Upon close examination, it is evident that for the first cycle of DFIP/CFP voting with OCG, Masternodes will not be able to start voting from day 0 of proposal submission, and last for a period of 90 days. While voters are able to immediat...

Over the last few months, several crypto-platforms have gone bankrupt, unable to fulfill their payout promises. Several of them did not practice asset segregation and invested their customers' assets in ways they weren't supposed to. As a result of these grave misconducts, people are wondering how crypto yield protocols can be used without entrusting private keys to a centralized entity, yet retain access to funds 24/7 365 days a year. This is where the DeFiChain wallet comes in. It’s not only a highly secure wallet where you own the private keys, but it’s also the gateway into the DeFiChain ecosystem, with investment opportunities far exceeding those offered by centralized custodians. Currently, you can e.g. get 10%+ on your Bitcoin holdings by setting up a vault and taking out a loan. Let's take a look at how this strategy works. Step 1: Download the DeFiChain app and transfer in some DFI To get started, download and install the most recent version of the DeFiChain wallet...