BNB
by BSCN
September 17, 2023
Users can now mint $USDEFI by supplying BNB and stake it in the stability pool for immediate rewards.
Summary
DCNTRL Network has officially announced its launch on BNB Chain, ushering in a new era of decentralized finance. With the launch, the team has introduced $USDEFI, a BNB-backed stablecoin designed to bring transparency and security to the DeFi ecosystem on BNB Chain.
Following Binance's announcement to discontinue support for BUSD by 2024, the demand for a transparent and secure stablecoin has surged. $USDEFI emerges as the solution, backed exclusively by BNB, offering a clear and auditable financial track record.
To get USDEFI, users have to deposit BNB, allowing them to mint their desired $USDEFI at a 0% APR borrowing rate. Once minted, $USDEFI can be used like any other stablecoin within the BNB Chain DeFi ecosystem. Additionally, users have the option to 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.
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 Biswap:
DCNX token holders can stake DCNX 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
To celebrate this groundbreaking launch, DCNTRL Network has planned a series of events to give away a grand total of 1,000,000 DCNX Tokens! Get the full details here.
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Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article as part of a "BSC News NFT Staking Pool Package". Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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