DeFiChain Says Amazon Stock Split Will Not Affect dAMZN Holders -Breaking
- DeFiChain revealed that nothing “drastic” will happen to dAMZN holders after the stock split.
- Everything went “smoothly” during AMZN’s 20-for-1 stock split, according to a representative from DeFiChain.
- Similar to what happened to Amazon stock (NASDAQ:), the team said that dAMZN would also go under.
Nothing “drastic” will happen to Amazon Tokenized Stock Defichain (dAMZN) holders moving forward, says DeFiChain to CQ, following Amazon’s (AMZN’s) 20-for-1 stock split.
According to sources within the native decentralized finance (DeFi) platform, everything went “smoothly” during AMZN’s 20-for-1 stock split which broke each existing share of AMZN into 20 individual units.
The team also revealed that dAMZN will be split, much like the Amazon stock. For each dAMZN token held, holders will be able to receive 20 tokens.
DeFiChain stated that the investments of token holders will not go up by more than 200%. The token holders will continue to have the same investments they did before June 6, split. DeFiChain, however, will keep the price of dAMZN updated from the oracles.
When asked about the intricacies of the split, DeFiChain explained that the process was enforced in two stages — market execution and DeFiChain execution. DeFiChain secured all dAMZN tokens that were already in use, based on signals from the stock exchange. DeFiChain reflected these prices after the market reopened with updated prices.
DefiChain’s announcement came shortly after the split mentioned in the previous week. According to DefiChain, the Amazon 20 for 1 stock split was done to reduce the barrier to entry for investors who wanted to invest in this company. Amazon shares had been too expensive for these new investors before the split.
DeFiChain offers additional dTokens such as dTSLA [Tesla, (NASDAQ:) Inc), dDIS(Walt). Disney (NYSE:) Co), dINTC [Intel Corporation (NASDAQ :)), dMSTR—MicroStrategy Incorporated), etc.