FAQ
Here you can find an overview of the most frequently asked questions.
General FAQ
What is DeFiChain?
DeFi stands for Decentralized Finance. It describes the idea removing the trusted third-party to execute financial services, with a blockchain in its place to enable people, and in the future, machines to become their own bank for these services, removing counterparty risks.
Here you can find the actual overview of the DeFiChain ecoystem.
Why not use the Bitcoin blockchain?
The Bitcoin blockchain was created for a single specific financial service – the decentralized and censorship-resistant store of value used as a medium of exchange, and perhaps a unit of account in the future. It does this better than other blockchains. However, beyond that, it lacks technical capabilities necessary for the infrastructure of other DeFi services.
Why not use the Ethereum blockchain?
Ethereum was meant to be a general purpose platform. In principle, one could do anything with Ethereum, rendering it the jack of all trades but master of none. Problems such as the DAO and parity hack reveal the challenge to keep smart contracts secure, due to their general, universal, and Turing-complete nature.
DEX Fee Structures
Detailed Information on the DEX fee structure you can find here.
Discussions within the DFI-Community
Legit telegram-channels
As there are many scammers in the crypto space, you need legit places where you can go with your questions. The following list contains the main telegram channels around defichain. Most of them are moderated. But still beware of scammers: Mostly scammers try to contact you via private messaging. So please, ignore private messages in the channels!
- https://t.me/defiblockchain_DE DACH (german speaking) DFI-channel for general DFI-discussions
- https://t.me/defiblockchain Internation (english speaking) DFI-channel for general DFI-discussions
- https://t.me/DFXswiss DFX-Swiss-channel for topics around DFX-Swiss (german speaking)
- https://t.me/mydefichain Discussions about masternodes (english speaking)
- https://t.me/CakeDeFi_DE Discussions for topics concerning CAKE (german speaking)
- https://t.me/CakeDeFi_DE_announcements Announcement channel for CAKE (german speaking - read only)
- https://t.me/defichain_ankundigung Announcement channel for DeFiChain (german speaking - read only)
- https://t.me/DFXinfo Announcement channel for DFX-Swiss (german speaking - read only)
- https://t.me/DFI_cfp_election_bot CFP-election bot (shows you the current votings for CFPs and DFIPs)
- https://t.me/DeFiChainPromo Channel for marketing topics (english speaking)
- https://t.me/defi_accelerator Channel for accelerator topics (Marketing-Team / english speaking)
- https://t.me/+QjhSf6bQT2tiNjAy Channel for tax-discussions (target-group: DACH-users / german speaking)
- https://t.me/defichainincome Channel for discussions around defichain-income.com (german & english mixed)
- https://t.me/jellywallet_en Channel for discussion concerning the JellyWebWallet (english speaking)
- https://t.me/DeFiChain_NFTs Channel for discussions from DeFiChainNFTs (english speaking)
- https://t.me/DeFiChainNFTs_GER Channel for discussions from DeFiChainNFTs (german speaking)
- https://t.me/cashflowbutler Information from the cashflow-butler-team (service not live yet)
- https://t.me/DFSneo_de Information from the DFS-neo-team (service not live yet)
