PHP_INJECT_OK stablecoins – Crypto DeFi Revolution https://cryptodefirevolution.com Mon, 25 Oct 2021 11:51:17 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.7 https://i0.wp.com/cryptodefirevolution.com/wp-content/uploads/2021/11/cropped-Trans-3.png?fit=32%2C32&ssl=1 stablecoins – Crypto DeFi Revolution https://cryptodefirevolution.com 32 32 191454963 What is ICHI (ICHI)? https://cryptodefirevolution.com/index.php/2021/10/25/what-is-ichi-ichi/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-ichi-ichi Mon, 25 Oct 2021 11:51:13 +0000 https://cryptodefirevolution.com/?p=996 […]]]>

What is ICHI (ICHI)?

ICHI is the first Decentralized Monetary Authority. It enables any crypto project to control its own money in order to grow and scale.

ICHI Token (ICHI) – ICHI is a DAO powered by its governance token $ICHI. Holders can vote on proposals such as halvings and partnerships.

Branded Dollars – Crypto projects can create and govern their own stable currencies worth exactly $1. OneTokens provide a hard peg of centralized stablecoins without sacrificing on decentralization.

Every crypto project faces three major challenges as it grows: acquiring users, developing partners, and increasing the value of its native token. ICHI solves these problems by enabling crypto projects to create and govern their own stable currencies worth exactly $1.

These “branded” dollar equivalents — which consumers and businesses can easily trust and understand — are created using a blend of USDC and the community’s token.

Eliminate Barriers – Branded dollars makes it easy for users to understand the project’s token, which helps acquire users, develop partners, and increase native token value.

ICHI makes it easy for users to get the benefits of DeFi apps — such as instant and trustless transactions — without them having to understand the project’s token, which is a major barrier to entry for most people.

Control The Treasury – Unlike centralized stablecoins, projects also have full control over the treasury that is created through the minting of their branded dollars.

Partners – Leading cryptocurrency communities like Filecoin, 1inch, Uniswap, and many others have already used ICHI to create their own branded dollars.

The ICHI team has a bold mission to finally achieve Satoshi’s vision outlined in the Bitcoin whitepaper of creating “peer to peer electronic cash.”

WEBSITE: https://ichi.org/


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The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. By consuming this content, you agree to hold us harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site. This page may contain affiliate links to products. We may receive a commission for purchases made through these links at no additional cost to you.

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What is Wrapped Bitcoin (WBTC)? https://cryptodefirevolution.com/index.php/2021/02/13/what-is-wrapped-bitcoin-wbtc/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-wrapped-bitcoin-wbtc Sat, 13 Feb 2021 12:53:39 +0000 http://cryptodefirevolution.com/?p=184 […]]]>

What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that represents Bitcoin on the Ethereum blockchain. The Wrapped Bitcoin Token (WBTC) is an ERC20 token that tracks the value of Bitcoin, and the first ERC20 token backed 1:1 with Bitcoin.

WBTC can be fully integrated into the Ethereum ecosystem of decentralized finance (DeFi) applications. Being on the Ethereum blockchain, WBTC has much faster transaction times compared to actual Bitcoins.

Wrapped Bitcoin (WBTC) standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin and making it easier to write smart contracts that integrate Bitcoin transfers.

DECENTRALIZED APPLICATIONS
DAPPs can now leverage Bitcoin payments in smart contracts for lending protocols, funds, token sales & more.

PROOF OF RESERVE
Bitcoin reserves are verified through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens & Bitcoin stored by custodians.

RECEIVING
To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user.

MINTING
Minting refers to the process of creating new wrapped tokens. Minting in the wrapped framework is initiated by a merchant and performed by a custodian.

BURNING
Burning is the action of redeeming Bitcoin for WBTC tokens, and only merchant addresses can do this. The amount to be ‘burnt’ is deducted from the merchant’s WBTC balance (on chain) and the supply of WBTC is then reduced.

TRADING
Limited to ERC20 tokens, decentralized exchanges suffer from low trading volume and liquidity. With Wrapped BTC, users experience increased liquidity and participation. The Ethereum network processes transactions faster than the Bitcoin network, but Bitcoin holders don’t have to wait anymore. With WBTC, moving Bitcoin between exchanges is much faster.

Website: https://wbtc.network/


DISCLAIMER
The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. By consuming this content, you agree to hold us harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site. This page may contain affiliate links to products. We may receive a commission for purchases made through these links at no additional cost to you.

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