- OCG will enhance DeFiChain’s governance framework and ensure complete transparency.
- DeFiChain Recently launched new dTokens.
The much-awaited “Grand Central hard fork” was finally enabled on the DeFiChain network at 1:00 AM EST on December 8th on Block Height 2,479,000. And the Grand Central hard fork occurred with four key features such as on-chain governance, token consortium framework, masternode parameter updates support, and pool commission & reward fixes.
DeFiChain is one of the world’s leading blockchains on the Bitcoin network and aims to provide decentralized financial applications to everyone. This Hardfork intends to provide the DeFiChain community with more rapid growth in 2023 by tackling some of the long-overdue product debt.
U-Zyn Chua, Co-Founder of DeFiChain, stated that;
Grand Central marks a major step in DeFiChain’s governance structure since it is implementing on-chain governance. This makes the voting processes perfectly transparent, easier and strengthens the governance structure of DeFiChain. A major step for the whole ecosystem.
DeFiChain Updated Features
The DeFiChain Consortium’s establishment will improve the DeFiChain community’s governance and transparency. Also, it will offer the backing of dAssets a correct structure to assure that all digital assets are backed. Additionally, DeFiChain Consortium provides the general public a way to keep an eye on how tokenized digital assets are backed, which prevents over-mining.
However, On-chain governance (OCG) will enhance DeFiChain’s governance framework and assure complete transparency throughout the community’s voting process. And any proposal that calls for community voting can be placed up for a vote by OCG, which allows it to happen directly on the blockchain.
Moreover, DeFiChain recently launched new dTokens, that can be used for liquidity mining on the DEX, held as an investment, and exchanged on the DeFiChain DEX.