ICHI
Crypto Overview
Overview
ICHI is a decentralized finance (DeFi) protocol that enables communities to create and manage their own branded dollar-pegged stablecoins called oneTokens. The ICHI token serves as the governance token for the protocol.
Purpose and Utility
The primary purpose of ICHI is to provide decentralized communities with the ability to create their own stablecoins backed by a combination of USDC and their native tokens. The ICHI token itself is used for governance decisions and earning protocol fees.
Business Model Analysis
The protocol generates revenue through fees from minting and redeeming oneTokens. This model appears transparent and straightforward, focusing on providing infrastructure for stablecoin creation rather than lending or interest-bearing products.
Development and Adoption
ICHI has demonstrated ongoing development activity and has partnerships with several DeFi protocols. The platform has launched multiple oneTokens, showing actual implementation of its core functionality.
Token Distribution
The token distribution includes allocations for the treasury, team, and community. Team tokens have vesting schedules to align long-term incentives.
Technology Assessment
The core technology focuses on stablecoin creation and management, avoiding direct involvement in lending or interest-bearing activities. The protocol's smart contracts have undergone security audits.
Crypto Impact
To assign a comfort level investing in ICHI from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ICHI.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.