LendChain, which is essentially a financial services platform for cryptocurrency holders, has now rolled out support for the DACC token. The support will be in effect from September 20th and onwards. The official launch by the company will take place on this exact date. With this support added, users of the LendChain platform can use their DACC tokens as collateral to borrow bitcoin, ethereum and other tokens.
Upon inquiry by BlockPublisher regarding the tokens that are supported by the platform besides bitcoin and ethereum, LendChain mentioned:
LVCOIN, BTC, ETH, USDT, QKC, GXS and DACC
The company has also stated that it has plans of adding more and more support of other such tokens in the future. This comes off as a good news for the cryptocurrency holders as the financial services provided by LendChain seem to be very valuable moving into the future. Such steps are necessary for growth of the crypto market as a whole.
Talking to BlockPublisher regarding the aspect of adding more tokens, LendChain stated:
Yeah of course we will add more and more.
LendChain covers both the financial end and the investment end linked with the crypto market. For the cryptocurrencies that are mentioned above, LendChain provides collateral and credit financial services. Besides the financial services, LendChain focuses at providing investment services to its customers as well. LendChain provides a variety of different investment products including fixed rate and floating income investment. Smart contracts are used by this platform in its workflow.
On the other end, DACC stands for Decentralized Accessible Content Chain and aims at giving due credits to the contributors across the content creation arena using blockchain technology. It is essentially a content-based blockchain. DACC also supports the features of identity and access management (IAM). The DACC token is an ERC20 standard ethereum token. The total supply of the DACC tokens is capped at 30 billion by the company.
The news of getting supported by LendChain comes off as good for the DACC community. As suggested by LendChain, the entire cooperation is a multi-faceted cooperation and aims at benefiting both the parties. Some of the goals of this cooperation are to increase community building and brand promotion. This cooperation also revolves around the aspects of a public chain ecosystem and a digital currency financial ecology.
Details about the support added by LendChain can be found here.