ICHI created the world's first Decentralized Monetary Authority (DMA), a DAO customized to give any community a token worth $1 (oneToken). It is minted with that community's scarce cryptocurrency. It works just like USDC. But you have to sell that community's crypto for USDC. You have to buy that community's crypto to get their oneToken.
Capital Efficiency: Mint oneTokens for exactly $1 of value in two parts: existing stablecoin and cryptocurrency.
Rewards: Deposit oneTokens to earn yield.
Regulated Off-ramp: Redeem oneTokens for exactly 1 USDC, less any redemption fees.
Community Treasury: Vote on how to leverage the assets backing oneTokens to drive additional actions that benefit your community, including DeFi liquidity, coverage against losses, discounts, and adoption incentives.
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 govern store of value and rely on other communities for the other functions of money. With ICHI, every cryptocurrency community can fully govern and benefit from their currency for the first time.