What is DCNTRL Network | USDEFI? Recent News, Fundraising and Token
$USDEFI - An Autonomous Stablecoin Network designed for DeFi powered by $BNB
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Key Takeaways
- DCNTRL Network is a DeFi protocol on BNB Chain that enables users to mint the $USDEFI stablecoin by supplying BNB collateral.
- The protocol features $DCNX as its native reward token, earned through staking and participation in stability pools.
- Launched in 2023, it includes mechanisms for revenue sharing and liquidity bootstrapping to support ecosystem growth.
What is DCNTRL Network | USDEFI?
DCNTRL Network is a decentralized finance (DeFi) protocol built on BNB Chain, centered around $USDEFI, a BNB-backed, USD-pegged stablecoin that serves as the primary medium for loan disbursements and provides a stable value asset within the ecosystem, according to the official documentation at dcntrl-network.gitbook.io.
How Does DCNTRL Network | USDEFI Work?
Users can mint $USDEFI by supplying BNB as collateral through the DCNTRL Protocol, which operates as a stablecoin issuance system. Once minted, $USDEFI can be staked in the stability pool to earn rewards in $DCNX, the native token, as detailed in official Medium posts from tenfinance and the project's X account @DCNTRLnetwork.
The protocol includes revenue-sharing mechanisms where $DCNX holders earn from minting and redemption fees, promoting active participation. Liquidity is supported through pools like the Fjord Foundry Liquidity Bootstrapping Pool, allowing users to engage in staking and earning rewards securely on BNB Chain.
What Makes DCNTRL Network | USDEFI Unique?
- It offers a BNB-collateralized stablecoin ($USDEFI) specifically tailored for the BNB Chain ecosystem, enabling direct minting with BNB and integration with stability pools for rewards (sourced from dcntrl-network.gitbook.io and Medium articles).
- Revenue sharing for $DCNX holders from protocol fees on minting and redemptions, incentivizing long-term participation (evidenced in X posts from @DCNTRLnetwork).
- Community-driven launch events like the #USDEFILaunchParty with token giveaways to boost adoption on BNB Chain (detailed in Medium posts and X announcements).
DCNTRL Network | USDEFI Native Token
$DCNX is the native reward token of the DCNTRL Network, used for earning protocol revenue through staking and participation; holders benefit from revenue sharing on $USDEFI minting and redemptions, as described in official X posts and Medium articles.
TGE Information
The $DCNX token underwent a Liquidity Bootstrapping Pool (LBP) on Fjord Foundry starting August 26, 2023, and concluding on August 29, 2023, to establish initial liquidity. This event allowed participants to acquire $DCNX tokens as part of the protocol's launch on BNB Chain.
Recent News & Fundraising
- DCNTRL Network launched on BNB Chain in September 2023, introducing $USDEFI minting and $DCNX staking rewards, as announced on X and Medium.
- The #USDEFILaunchParty campaign in September 2023 distributed 1,000,000 $DCNX tokens through giveaways and community events, with winner announcements shared on Medium.
- Integration with TEN Finance V2 upgrades in September 2023 enhanced $USDEFI and lending features, according to Medium updates.