DCNTRL and $USDEFI hitting BNB Chain mainnet on SEP 12

It’s official: DCNTRL Network is set to go live on September 12, 2023. On launch day, we’ll publish another announcement specifying DCNTRL’s contract addresses and how users may interact with the protocol. This article delves into the mechanics of DCNTRL and the utility of $USDEFI, while also providing a glimpse into some of the activities we have planned for launch!

TLDR;

• DCNTRL Network’s launch date is set for September 12, 2023.
• Our BNB Chain deployment address will be announced on launch day. Interactions with deployments from any other address should be deemed invalid.
• DCNX rewards will be live at launch.
• There will be a series of events and giveaways to celebrate the launch, including collaborations with key partners like BNB Chain and Biswap.
• $USDEFI, our BNB-backed stablecoin, aims to bring transparency and security to the DeFi ecosystem on BNB Chain.
• $USDEFI, our BNB-backed stablecoin, aims to bring transparency and security to the DeFi ecosystem on BNB Chain.

Deployment

DCNTRL Network has been meticulously designed and tested, and we’re thrilled to deploy to the BNB Chain mainnet. As an additional safety precaution, we’ll confirm our BNB Chain deployment address on launch day.

We understand the excitement surrounding our launch, but we urge you to avoid interacting with any contract deployments from an address different than the one we’ll specify. We prioritize the safety of our users and would hate for anyone to lose funds due to malicious contracts.

SEP 12 The Genesis of $USDEFI: More Than Just Another Stablecoin

On September 12 2023 DCNTRL Network goes live and our new stablecoin $USDEFI will go live on BNB Chain. $USDEFI is not merely a stablecoin; it’s a stablecoin with a purpose. Unlike traditional stablecoins, which are often backed by a basket of assets whose transparency is questionable, $USDEFI is backed solely by BNB. Thereby creating a stablecoin that not only leverages the robustness of BNB but also contributes to a more transparent and secure financial ecosystem on BNB Chain.

Why now?

In the wake of Binance’s announcement to cease support for BUSD by 2024 amid legal turmoil, the BNB Chain ecosystem is at a crossroads. The need for a stablecoin that is both transparent and secure is more pressing than ever. DCNTRL Network aims to fill this void with the introduction of $USDEFI, a stablecoin that is not just another pegged asset but a cornerstone for a new kind of DeFi ecosystem.

How Does $USDEFI Work? What Backs It?

$USDEFI operates on a simple yet robust mechanism. Users deposit BNB as collateral to mint this stablecoin, thereby creating a transparent and auditable trail of financial activity. Did we also mention that it is at a 0% APR borrowing rate? Meaning you can unlock liquidity from your BNB all without having to lose any exposure!

Once minted, $USDEFI can be used like any other stablecoin throughout BNB Chain DeFi, such as making swaps or supplying liquidity.

However, its utility doesn’t end there. On the DCNTRL Network, you can deposit $USDEFI directly into our stability pool.

This pool is used to auto-liquidate bad debt on the protocol contributing to the protocol and $USDEFI’s overall stability. As a reward, users who deposit into this pool share in the liquidation fees generated as BNB, along with bonus DCNX reward tokens.

These DCNX tokens can be staked to allow users to share in all the fees generated each time $USDEFI is minted or redeemed for underlying BNB.

A Month of Celebrations: The DCNTRL Launch 1M DCNX Giveaway? #USDEFILaunchParty

To commemorate the launch of this revolutionary protocol, DCNTRL Network has planned a series of events and DCNX giveaways, the details of which will be finalized soon. These activities range from educational content and social contests to collaborations with key ecosystem partners like BNB Chain and Biswap.

For those who don’t know, DCNX is our reward token and if you stake it on DCNTRL you’ll get to share all fees generated each time USDEFI is minted or redeemed!

BSC News NFT holders can look out for exclusive opportunities around our lauch as well!

Thanks for Reading!

DCNTRL Network and $USDEFI represent a paradigm shift in how we perceive and utilize stablecoins in the DeFi space. As we gear up for the official launch on September 12th, we invite you to be part of this groundbreaking journey.

To delve deeper into the intricacies of $USDEFI and why it’s more than just another stablecoin, visit our Gitbook page: The Genesis of $USDEFI.

To stay updated on all our announcements and activities, make sure to follow us on Twitter and join our Telegram channel.