Ichi - What it is & How to Buy

Table of Content

Adoption is essential to the success of any cryptocurrency. It’s what so many altcoins struggle to achieve – why should investors buy into your community?

Many platforms are developing solutions to this problem. Among them is Ichi, a project offering branded dollars and bespoke “Angel Vaults” for crypto communities to encourage investors to engage.

Discover more about how it works in this Ichi review.

ichi review

What Is Ichi?

Branded Dollars

Ichi allows crypto communities to mint a branded dollar tied to their protocol. The branded dollar has value based on the scarcity of a protocol’s native asset but is more attractive to investors because its value is locked in at $1 USD. When investors purchase the branded dollar, it creates a pool of liquidity within the community, enabling meaningful transactions between owners of the currency.

These branded dollars are stablecoins – major examples include one1INCH and oneDODO. Communities can tie DeFi rewards to purchases made using these stablecoins, encouraging uptake among investors.

The platform uses a DMA (decentralized monetary authority) to mint the stablecoins for any community.

Angel Vaults

Angel Vaults generate a high ROI for investors who deposit as a reward for providing liquidity. It uses the Uniswap v3 protocol, which allows higher trading fees for those minting currencies and depositing in an Angel Vault.

By combining Angel Vaults with branded dollars, communities can attract liquidity providers (LPs) and benefit from protocol-owned liquidity when LPs deposit in an Angel Vault, as the Vault backs the value of the branded dollar. This liquidity in turn funds the investor rewards for LPs.

How Does Ichi Work?

The goal is to allow crypto communities to self-govern more effectively. Stablecoins are minted via the platform using the community’s chosen cryptocurrency and can be redeemed 1-for-1 with USDC. This allows the community to build funding without selling all of its native crypto’s coins to investors.

The platform also has a proprietary currency (ICHI), which can be traded on several major exchanges. Users can vote on minting coins and other governance issues if they have staked the currency (xICHI).

Buying Branded Dollars on Ichi: Step-by-Step Guide

To buy into any of the communities supported by the platform, simply follow these guidelines:

  1. Find the branded dollar of the project you’re interested in
  2. Mint tokens tied to a $1USD value
  3. Deposit into an Angel Vault to receive LP tokens and benefit from a high ROI
  4. Join the community and learn about the asset behind the stablecoin
  5. Take part in a self-governing community. Ichi’s liquidity farming contract gives you a place to stake your LP tokens.

Who is Ichi For?

Ichi is for anyone who wants to mint stablecoins tied to their favorite crypto asset. Below are some of the most popular tokens that the community loves to take advantage of.

one1INCH

one1INCH is a token minted by the 1inch community. Purchasing the branded dollar associated with one1INCH offers DeFi rewards in exchange for increasing liquidity within the community. The coin aims to enable better payment options than existing cryptocurrencies.

oneDODO

oneDODO has a similar goal of enabling better payments. It’s tied to the DODO platform. OneDODO was the first branded dollar in the Ichi ecosystem and offers significant rewards for mining.

oneUNI

oneUNI aims to bring long-term stability to DeFi communities. To help it achieve that goal, it encourages users to buy into the oneUNI branded dollar and increase liquidity. It aims to become the base asset of Uniswap.

Other Ichi Communities

Besides one1INCH, oneDODO, and oneUNI, many stablecoins are being minted on the platform. The goal is to support growing crypto communities and enable them to achieve liquidity and stability while the protocol is in its infancy.

Who is Behind Ichi?

The platform is run by a team of developers including steward Bryan Gross, who was previously the principal product architect at IBM blockchain. It has a self-governing community of asset owners.

What Makes Ichi Unique?

The platform aims to let smaller communities create value and liquidity by making them more attractive to investors. Cryptoassets can be difficult to understand, which is why tying the investment to a $1USD stablecoin can be useful.

Summary

Ichi represents an exciting opportunity for crypto communities to build liquidity and realize the potential of their currency. Get the app to start investing.

FAQ

What is the Ichi coin?

ICHI is the proprietary token of ichi.org.

Is OneCoin crypto?

OneCoins are a type of token tied to the value of a native crypto asset.

How do I buy Ichi?

It can be purchased on several crypto exchanges or the platform’s website.

Ichi Price Info

Currently, one ICHI costs $ 5.30 and has a marketcap of $ 26.70 M. The last 24 hours, the price has changed by -0.50%. Compared to other cryptocurrencies, ICHI is ranked number 580, based on marketcap.

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