DCNTRL Network and $USDEFI: Now Live on BNBChain
TLDR;
- DCNTRL Network has officially launched on BNB Chain.
- Users can now mint $USDEFI by supplying BNB and earn with it immediately by staking it in the stability pool to earn rewards.
- DCNX is now tradeable directly on Pancakeswap
- DCNX token holders can stake their tokens to earn a share of all fees generated by $USDEFI minting and redemption.
Today marks a historic moment as DCNTRL Network goes live on BNB Chain, ushering in a new era of decentralized finance. With the launch, we’re excited to introduce $USDEFI, a BNB-backed stablecoin designed to bring transparency and security to the DeFi ecosystem on BNB Chain.
Mint USDEFI on DCNTRL: app.dcntrl.network/#/
Trade USDEFI: https://pancakeswap.finance/swap?outputCurrency=0x480315cBaA3B4fa8e48aFc7E43b821a45BB6d202
Trade DCNX: https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xf106f153bd77be6d5191a07159c99c4219a1cec4
What is $USDEFI?
In the wake of Binance’s decision to cease support for BUSD by 2024, the need for a transparent and secure stablecoin is more critical than ever. $USDEFI fills this gap by being backed solely by BNB, providing a transparent and auditable financial trail.
How Does $USDEFI Work?
To get USDEFI you just have to deposit BNB and you can mint your desired $USDEFI at a 0% APR borrowing rate. Once minted, $USDEFI can be used like any other stablecoin within the BNB Chain DeFi ecosystem. But that’s not all; users can also deposit $USDEFI into DCNTRL Network’s stability pool.
This pool auto-liquidates bad debt, contributing to the protocol’s overall stability. In return, users earn liquidation fees in BNB and bonus DCNX tokens.
What About DCNX?
DCNX is the reward token for the DCNTRL network protocol. It can be earned by staking USDEFI into the stability pool.
Or by purchasing directly on PancakeSwap:
https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xf106f153bd77be6d5191a07159c99c4219a1cec4
DCNX token holders can stake DCNX on to earn a share of all fees generated by $USDEFI being minted and redeemed for BNB.
If you participated in the FjordFinance DCNX LBP, you can officially now stake your DCNX tokens
A Month of Celebrations: #USDEFILaunchParty
To celebrate this groundbreaking launch, we’ve planned a series of events to give away a grand total of 1,000,000 DCNX Tokens! Read the article for full details on how to get involved!
Thank You for Joining Us!
Your enthusiasm and active participation have been instrumental in making the DCNTRL Network’s launch and the #USDEFILaunchParty a resounding success. It’s your support that propels us forward in our quest to redefine decentralized finance on BNB Chain.
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