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Ren, an inter-blockchain liquidity agreement, and ICHI, a platform that allows the cryptocurrency community to create and manage its own non-custodial stablecoins, announced the establishment of a new partnership that will enable Bitcoin, Dogecoin, Zcash and other cryptocurrency communities to use it. Centralized stablecoin.
ICHI Decentralized Financial Administration (DMA) Agreement Promote the creation of stablecoins by the crypto community, which is supported by a mixture of its own native tokens and stablecoins backed by fiat currencies. This increases the demand for native tokens in each community and ensures that the value is always locked in the community.
One + Ren
The new integration will enable ICHI to create stablecoins for popular cryptocurrencies, including BTC, DOGE and others virtual machine Brought to Ethereum. It is worth noting that this integration aims to promote the use of these cryptocurrencies in DeFi applications throughout the blockchain ecosystem.
“This partnership is a key step in allowing liquidity to flow between any blockchains. ICHI’s agreement creates value for any stakeholder in Bitcoin, Dogecoin, and Digibyte; or we encourage the adoption and use of these tokens. Other crypto communities supported by the currency; and return value to the community in the form of revenue.”
– Michael Burgess, chief operating officer
Internal economy
The ICHI protocol further provides each crypto community with tools to operate its own economy. This includes the establishment of a community-managed vault created by minting “oneTokens.” When the amount of each community’s vault exceeds the existing minted oneToken, each community’s oneToken will be over-collateralized; this happens when the community invests in DeFi projects to earn income.
“We are happy to work with Ren to provide communities with autonomy in how to spend, invest, save, and use their money in other ways to encourage the scalable and sustainable growth of DeFi.”
– Brian Gross, ICHI
Today’s cooperation follows the collaboration of ICHI, Ren and ConsenSys to develop a stablecoin for Filecoin. Since its launch in June; more than 2 million USD oneFIL stablecoins have been minted. ICHI also launched internal stablecoins for 1inch Network, Fuse Network and Wing Finance.
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