ICHI

Halal Rating :
Comfortable
Contract: 0x111111517e4929d3dcbdfa7cce55d30d4b6bc4d6
Last Price $0.45 Last updated:
Rank 1310
1D Change -1.98 %
Market Cap $4.13m
Circulating supply 9,270,484
Maximum supply None

Crypto Overview

Categories
  • Ethereum Ecosystem
  • Yield Farming
  • Polygon Ecosystem
  • Olympus Pro Ecosystem
  • DWF Labs Portfolio

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.

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