ICHI Price ICHI

    About ICHI

    ICHI (ICHI) is a cryptocurrency and operates on the Ethereum platform. ICHI has a current supply of 5,000,000 with 3,670,953.76705961 in circulation. The last known price of ICHI is 4.18412119 USD and is up 2.94 over the last 24 hours. It is currently trading on 4 active market(s) with $5,284,444.02 traded over the last 24 hours. More information can be found at https://ichi.farm/#/swap.

    How it works

    ICHI is a self-sufficient, community-governed infrastructure that allows any crypto community to develop and control its non-custodial, in-house oneToken (a coin valued at $1).


    USE-CASE


    ● Creates a reliable token (oneToken) that can be used by any cryptocurrency or token network,


    ● It uses market forces to determine the degree of reserves supporting the stablecoin, ranging from 0% to 100%, to guarantee stability that is equal to that of stablecoins backed by fiat currency, in that they may be redeemed for 1 USDC.


    ● Creates increased demand for the token by locking up any current currencies and operating entirely on the blockchain.


    ● Allows holders of oneToken to vote on changes to their coin's Treasury.


    Through the introduction of a decentralized autonomous organization (DAO)-style governance for the platform as a whole, ICHI aims to incentivize platform-wide adoption and foster genuine dedication among its user base.


    ICHI COIN FEATURES AND UPDATES


    With oneTokens, you can get the same hard peg as centralized stablecoins without giving up any of the benefits of cryptocurrency's decentralized nature.


    They never depreciate, exist only on the blockchain, and contribute to a shared fund denominated in the native currency of each oneToken.


    Each oneToken has a fixed value of 1 USDC and contributes to a community-managed reserve of the token's native coin. The system does not return the cryptocurrency sent to the mint. Instead, it's kept in a communal bank account.


    The oneToken is the system's governance token. Every oneToken represents a vote on future treasury allocations, adoption initiatives, and individual stablecoin parameters (such as minting and redemption fees).


    ICHI allows "community hodling" other coins instead of selling them while conducting legitimate business:


    ● Covers costs reliably and on time.


    ● Controls risk.


    ● It puts some money away to cover your taxes.


    ● Puts together a bank that the people control.


    WHAT IS HAPPENING TO ICHI COIN?


    Following cascading liquidations in its pool on the yield-generating service Rari in April, the price of ICHI governance tokens plummeted by 90%.


    Rari's Fuse protocol, to stabilize Pool 136's value, had automatically sold assets, causing the drop. The token's value had been steadily rising, but its unexpected price drop was due to its lack of availability on decentralized exchanges (DEX), which emptied the reserve. As a result, liquidity is at zero dollars after being completely drained when cryptocurrency prices plunged.


    Rari's Fuse pools enable users to provide and borrow any asset, allowing them to generate returns on unused funds. Individuals can create their pools using a selection of tradable Ethereum assets. Then, if other users want to earn interest, they can invest their money in those pools. The returns are a byproduct of trading on such liquidity markets.

    Release Time: 2022-09-06
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