Ren, an inter-blockchain liquidity protocol, and ICHI, a platform that allows cryptocurrency communities to create and govern their own non-custodial stablecoin, have announced a new partnership to make decentralized stablecoins available to Bitcoin, Dogecoin, Zcash, Ren, and other crypto communities.
ICHI’s Decentralized Monetary Authority (DMA) protocol facilitates crypto communities in creating a stablecoin that is backed by a blend of its own native coin and fiat-backed stablecoins. This increases the demand for each community’s native coin and ensures value remains locked in the community.
ICHI + Ren
The new integration will enable ICHI to create a stablecoin for popular cryptocurrencies BTC, DOGE, REN itself, and others in whichRenVM brings to the Ethereum network. Notably, this integration aims to facilitate these cryptocurrencies to be used in DeFi apps across the blockchain ecosystem.
“This partnership is a key step in allowing the fluid movement of liquidity between any blockchain. ICHI’s protocol creates value for any stakeholder within the Bitcoin, Dogecoin, Digibyte; or other crypto communities we support by encouraging the adoption and use of these tokens; and driving value back to the community in the form of yield.”
– Michael Burgess, Ren COO
In-House Economy
Further, the ICHI protocol provides every crypto community with the tools to operate their own economy. This includes establishing a community-governed treasury created through the minting of ‘oneTokens.’ Every community’s oneToken becomes over-collateralized when the amount in their treasury exceeds that of existing minted oneTokens; which occurs from the community investing in DeFi projects to earn yield.
“We are thrilled to partner with Ren to provide communities with autonomy over how to spend, invest, save, and otherwise use their money to encourage the scalable and sustainable growth of DeFi.”
– Bryan Gross, ICHI
Today’s partnership follows the collaboration between ICHI, Ren, and ConsenSys to develop a stablecoin for Filecoin. Since its launch back in June; more than $2 million in oneFIL stablecoins have been minted. ICHI has also launched in-house stablecoins for 1inch Network, Fuse Network, and Wing Finance.
Ren, an inter-blockchain liquidity protocol, and ICHI, a platform that permits cryptocurrency communities to create and govern their very own non-custodial stablecoin, have introduced a brand new partnership to make decentralized stablecoins accessible to Bitcoin, Dogecoin, Zcash, Ren, and different crypto communities.
ICHI’s Decentralized Financial Authority (DMA) protocol facilitates crypto communities in making a stablecoin that’s backed by a mix of its personal native coin and fiat-backed stablecoins. This will increase the demand for every group’s native coin and ensures worth stays locked in the neighborhood.
ICHI + Ren
The brand new integration will allow ICHI to create a stablecoin for well-liked cryptocurrencies BTC, DOGE, REN itself, and others in whichRenVM brings to the Ethereum community. Notably, this integration goals to facilitate these cryptocurrencies for use in DeFi apps throughout the blockchain ecosystem.
“This partnership is a key step in permitting the fluid motion of liquidity between any blockchain. ICHI’s protocol creates worth for any stakeholder inside the Bitcoin, Dogecoin, Digibyte; or different crypto communities we help by encouraging the adoption and use of those tokens; and driving worth again to the group within the type of yield.”
– Michael Burgess, Ren COO
In-Home Economic system
Additional, the ICHI protocol gives each crypto group with the instruments to function their very own financial system. This consists of establishing a community-governed treasury created by means of the minting of ‘oneTokens.’ Each group’s oneToken turns into over-collateralized when the quantity of their treasury exceeds that of present minted oneTokens; which happens from the group investing in DeFi initiatives to earn yield.
“We’re thrilled to accomplice with Ren to offer communities with autonomy over methods to spend, make investments, save, and in any other case use their cash to encourage the scalable and sustainable development of DeFi.”
– Bryan Gross, ICHI
Right this moment’s partnership follows the collaboration between ICHI, Ren, and ConsenSys to develop a stablecoin for Filecoin. Since its launch again in June; greater than $2 million in oneFIL stablecoins have been minted. ICHI has additionally launched in-house stablecoins for 1inch Community, Fuse Community, and Wing Finance.
