Collateral Reserve

oneToken's USD hard pegged stablecoin Collateral Reserve

There are two types of reserves backing an ICHI stablecoin: the USD hard pegged stablecoin 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 DMA.

Collateral Reserve

  1. Contains only stablecoins

  2. May be deployed in various principal protecting strategies

  3. Can be managed via Community Governance

Upon redemption of a oneToken, you may claim $1 of collateral reserves while supplies last. oneTokens can accept multiple stablecoins for Collateral. Therefore, the amount of each stablecoin is an upper limit of how much can be redeemed of that specific stablecoin. E.g. If the contract accepts USDC or USDT as Collateral then the user may be forced to accept multiple stablecoins when redeeming if their oneToken holdings are larger than the Collateral of a single stablecoin.