Huobi Lists DeFiChain’s DFI Token; Withdrawals To Start on July 26

Decentralized exchange Huobi Global has listed the DFI token, according to today’s announcement by Bitcoin blockchain platform DeFiChain.

Huobi users can trade DFI against USDT starting on July 25 at 6 a.m. (UTC), while the withdrawal of the token commences on the next day at 7 a.m. (UTC). Furthermore, DFI traders and investors on Huobi can transfer the cryptocurrency to other wallets, including their DeFiChain wallet.

Benjamin Rauch, marketing director at DeFiChain Accelerator, said that their team is delighted that more “big exchanges” are listing DFI. “Due to the variety of real-world assets available on DeFiChain, more and more top-tier exchanges are looking forward to listing DFI,” claims Rauch.

The executive believes that more exchanges listing DFI will make it “easier for the masses to enter the world of native decentralized finance on DeFiChain.”

Currently, the DFI token is listed on KuCoin, Bittrex, Bitrue, Hotbit, and Bitpanda. The token’s ERC-20 format is also listed on Bybit.

For the uninitiated, DFI serves many purposes within the DeFiChain blockchain. Aside from being DeFiChain’s governance token, DFI provides liquidity in multiple pools, staking for blockchain consensus and security. Moreover, holders can use the token as collateral to mint of borrow stock tokens and the dUSD (Defi dollar) stablecoin.

Additionally, since all DEX rewards are paid in DFI on DeFiChain, DFI can also be used as a reward token.

DeFiChain is a decentralized PoS blockchain as a hard fork of the Bitcoin network to enable advanced DeFi applications. The platform offers liquidity mining, staking, and decentralized assets and loans.

In related news, Huobi Global can now offer virtual asset exchange services to investors and financial service providers after it secured provisional approval from the Dubai Virtual Assets Regulatory Authority (VARA).