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HomeCOINSWhat Is ICHI(ONEICHI) Coin Review? Complete Guide Review About...

What Is ICHI(ONEICHI) Coin Review? Complete Guide Review About ICHI

What Is ICHI(ONEICHI)

ICHI is a Decentralized Autonomous Organization (DAO) that gives crypto projects the tools they need to participate in DeFi more efficiently.

ICHI Coin Storage Key Points

Coin BasicInformation
Coin NameICHI Coin
Short NameONEICHI
Circulating Supply87.00B USDZ
Max Supply87,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

USDZ Price Live D

DeFi Isn’t Efficient…Yet

DeFi has become instrumental in the growth and adoption of crypto but is risky and expensive for projects to conduct business and build their communities. ICHI solves 3-key problems to allow these projects to utilize DeFi more efficiently.

DeFi relies on centralized business models that extract value from crypto projects. Crypto projects need stable assets for business transactions and are forced to sell their tokens in exchange for stable tokens. Traditional liquidity programs force crypto projects to put their tokens up for sale in exchange for necessary liquidity.

ICHI’s Solution

ICHI Coin solves these problems by providing crypto projects the tools they need to operate their own sustainable, community-controlled economies. They creates products that allow a project to develop their own stable asset (backed by their community’s token), and their own liquidity programs that turns Total Value Locked into Protocol Owned Liquidity. These products include.

  1. Angel Vaults
  2. HODL Vaults
  3. Branded Dollars

With these products, ICHI aligns incentives between crypto projects and their communities by encouraging the purchasing and use of their project’s tokens.

Vaults Tutorials

COMING SOON – They tip community members who create ICHI Coin app walkthroughs and tutorials. If you are interested in becoming a contributor, reach out on the Discord.

Technical Concepts

Minting

Mint stable tokens for exactly $1 of value per stable token by sending project tokens and $USDC. Branded Dollars are minted by you with your non-hosted Ethereum wallet. There is no issuing entity, bank, or any other counter-party. You pay exactly $1 of value in two parts to mint a Branded Dollar:

A minting ratio specifies how much USD hard pegged stable token versus how much of a native cryptocurrency you pay to mint a Branded Dollar. For example, you might pay $0.90 $USDC and $0.10 $wBTC to mint $oneBTC (the stable token for Bitcoin) at a 90% minting ratio.

Collateral Reserve

Branded Dollar’s USD hard pegged stable token Collateral Reserve There are two types of reserves backing an ICHI Branded Dollar: the USD hard pegged stable token known as collateral stored in Collateral Reserve and the native project tokens stored in the Community Treasury. Each of these reserve assets are visible on-chain and managed via the Branded Dollar community (the DMA).

Treasury Reserve Ratio

ICHI Coin Treasury Reserve Ratio shows how ‘over-collateralized’ a Branded Dollar is. This happens when the sum (in USD) of the $USDC collateral and the Community Treasury is more than the number of circulating stable tokens. The possible drivers of over-collateralization may include the following:

  • Minting and/or redemption fees stay in $USDC reserves.
  • Treasury tokens grow in value.
  • Addition of tokens into the Community Treasury (anyone may do this). Addition of stable assets into Collateral (anyone may do this).

How is it possible to mint a new ICHI Branded Dollar for $1 of value?

Decentralized oracles (live price feeds provided by networks of computers) determine the price of two assets in US dollars: $USDC (a stabletoken issued by regulated financial institutions, backed by fully reserved assets, and redeemable on a 1:1 basis for US dollars) and the project tokens. You mint a new stable token by paying exactly 1 US dollar in two parts (part $USDC and part project tokens) as calculated by these oracles.

How do branded dollars hold their peg?

ICHI takes specific measures to ensure that there is always enough fiat backed stable asset backing the branded dollar so that it can be redeemed for that asset. Today, that means USDC (which is the only fiat-backed asset in collateral for the 11 branded dollars they have). With that risk parameter in place, branded dollar users will always be able to redeem 1 branded dollar for 1 USDC. This ensures that the branded dollar is always worth $1 and provide an arbitrage opportunity for arbitragers in the space in case that begins to fluctuate.

What does 100% on-chain mean?

You can see the $USDC collateral and the tokens paid to mint on the Ethereum blockchain as well as the entire transaction history of minting, redeeming, and any treasury actions. If the tokens or $USDC are used by the token’s community to create DeFi (decentralized finance positions), you can see these transactions and positions in the corresponding smart contracts.

What is the Community Treasury?

ICHI Coin pay in project tokens to mint that project’s Branded Dollar. These tokens remain in a Community Treasury because you only get back $USDC when you redeem the token’s Branded Dollars. The Branded Dollar’s community decides what to do with this treasury by voting with the stabletoken itself. A common action may include selling part of the Community Treasury to buy more $USDC and deposit it back into $USDC collateral.

Bixer Simond
Bixer Simond
Bixer Is Long Term Writer & Editor At Woodfi . His Hobby Is Writing Article For Wootfi Visitors . His Main Focus Area Is Crypto , Affiliate , Blockchain , NEFT , ICO . In Free Time He Loves To Research New Things