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Currency for Every Community
ICHI deploys a branded dollar for any cryptocurrency community. This enables retail on-boarding, protocol growth, and ecosystem acceleration.
Problem
Every crypto project has three problems it seeks to solve:
- 1.Getting new users
- 2.Growing protocol value via token scarcity and value locked
- 3.Building an ecosystem of businesses supporting their protocol
Solution
ICHI aims to solve all three problems for protocols:
- 1.New users: The greatest obstacle for new protocol users is understanding a protocol's native token and its benefits. Branded Dollars are simple to understand and require users to buy the project's native token in order to mint them.
- 2.Growing protocol value: Branded Dollars are owned by the protocol that creates them and help lock in that project's native assets in a treasury that becomes Protocol Owned Liquidity (POL).
- 3.Building an Ecosystem: DeFi projects are companies with both business and operational needs. Branded Dollars allow these projects to pay for grants, bounties, workers, etc. These tokens remain stable and do not put pressure on the receiving parties to sell them for a more stable asset (as happens when they are paid in native tokens).
ICHI deploys a Decentralized Monetary Authority (DMA), a DAO customized to give any community a branded dollar worth 1 USD. The Branded Dollar that is created in the process is minted with a community's scarce crypto asset and is capital efficient.
Money functions as a medium of exchange, a unit of account, and a store of value. It never made sense for one cryptocurrency community to rely on other communities to provide them with a medium of exchange and unit of account. With ICHI, every cryptocurrency community can fully govern and benefit from their own stable currency.
Last modified 2mo ago