Hey guys,

We are planing to offer crypto services in Europe and as such would like to apply for a crypto license. We already did inform ourselves and our understanding so far is that there is no EU passporting available -- the fact that you just need one license in order to be able to market/offer your services EU-wide. On the other hand though, we see companies like Kraken or Binance operating with licenses out of the UK or Estonia and are offering their services to clients all over Europe.

On top of that we do remember that Kraken and Binance once got a notice from BaFin, the German regulatory and licensing body, that both companies are not allowed to offer their services on the German market. It appears that this notice is now gone. Our assumption thus is, that a license in another EU country was indeed enough to get rid of that notice.

How is that possible?

[What is DefiChain?]

What is DefiChain?

DeFiChain is a bitcoin-core-forked blockchain, built from ground up to support various decentralized financial applications. Specifically designed as a non-general-purpose blockchain for the DeFi industry, DeFiChain provides full functionality for this specific industry segment, yet sacrificing other types of functionality for simplicity, rapid throughput and security. Unlike the majority of DeFi projects, DeFiChain is combining Bitcoin’s stability and immutability with DeFiChain’s scalability and functionality.

To address challenges associated with creating robust immutability and security, DeFiChain is periodically anchoring itself to the bitcoin blockchain - every few minutes, the most recent Merkle tree gets saved to the Bitcoin blockchain. At the same time DeFiChain keeps its own consensus mechanism and function set, allowing for all those characteristics that Bitcoin does not inherently have.

DeFiChain utilizes a completely decentralized Proof-of-Stake mechanism allowing for:

•   a massive scalable and energy conserving consensus.
•   fast transactions and high security.
•   ability to create a variety of DeFi apps based on one chain and with very low attack surface.
•   multi-token support on one chain through decentralized wrapped token technology.
•   decentralized governance.

In contrast to turing-complete blockchains like Ethereum, DeFiChain is not supporting any commands outside the basic set of functions. By purposely limiting the allowed commands, the attack surface for financial smart contracts, developed on the platform, gets reduced simultaneously.

The initial allowed set of functions (dAppSet) includes:

•   Decentralized lending
•   Decentralized wrapping of tokens
•   Decentralized pricing oracles
•   Decentralized exchanges
•   Transferable debts and receivables
•   Decentralized non-collateralized debt
•   Asset tokenization
•   Distribution of dividends


Benefits of DeFiChain – Summary:

•   Development of a variety of financial operations & vehicles for cryptocurrency economy.
•   High throughput for all transactions
•   Safer, more secure blockchain specifically for decentralized finance.
•   Rapid development of dApps for decentralized finance.
•   DefiChain blockchain is solely used for financial dApps – focusing on financial use-cases and nothing else.
•   Minimal attack surface of financial smart contracts developed on the platform.
•   Reliable governance (off-chain and on-chain).
•   Highly immutable – by periodic anchoring to Bitcoin blockchain.


Technical Characteristics of DeFiChain:

•   DFI – the native DefiChain token – is a deflationary utility token
•   Forked from Bitcoin Core v0.18.1
•   Written in C++ with plans to use Rust in the future as well
•   Block time: 30 seconds
•   Block size: 16 MB
•   Transaction rate: >2,200 tps
•   Consensus mechanism: POS and Masternode staking
•   Masternode staking: 1,000,000 DFI
•   Total supply: 1.2 billion DFI – 588 million DFI initial supply (49%), from which 49% is kept at the DeFi Foundation. Remaining 51% (612 million DFI) will be issued to Masternode holders over time.
•   Block reward: 200 DFI, of which 10% goes into the community fund. Reduced block reward after 1,050,00 blocks.


Supported Exchanges (CEXs):

•   Bittrex
•   Hotbit
•   Bitrue
•   LATOKEN
•   Indoex


Decentralized Exchanges (DEXs):

•   DeFiChain DEX on wallet app


Resources:

Official Github Repository: https://github.com/DeFiCh
Official Whitepaper: https://defichain.com/white-paper/
Official Roadmap: https://defichain.com/white-paper/#roadmap-and-milestones


Community:

Official Telegram Group: https://t.me/defiblockchain
Official Reddit: https://www.reddit.com/r/defiblockchain/
Official Youtube: https://www.youtube.com/DeFiChain
Official Twitter: https://twitter.com/defichain
Official Facebook: https://www.facebook.com/defichain.foundation
Official DefiChain Blog: https://defichain.ghost.io

I am just curious, how an airdropped coin actually gets it's value. ICO's in contrast are packed by ETH or BTC, but an airdropped coin - out of the sky - doesn't have any value at first.

What if i.e. an airline would airdrop frequent flyer miles, then they would also have to pack it by something - in their case the promise to get a free flight. But since the airline didn't get / didn't sell anything in the first place (nor did they opt in for an ICO in that example) and actually handed out those miles for free via an air drop event, it would lose out when all people then would try to redeem their free airdropped miles.

So how would an airdrop then work in that case? How does it have to be structured that it's a win win situation for both parties involved.