{"id":260749,"date":"2021-05-27T22:00:00","date_gmt":"2021-05-27T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ichi-launches-decentralized-monetary-authority-for-stablecoin-issuance\/"},"modified":"2021-05-27T22:00:00","modified_gmt":"2021-05-27T19:00:00","slug":"ichi-launches-decentralized-monetary-authority-for-stablecoin-issuance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ichi-launches-decentralized-monetary-authority-for-stablecoin-issuance\/","title":{"rendered":"# ICHI launches \u2018Decentralized Monetary Authority\u2019 for stablecoin issuance"},"content":{"rendered":"<p>&#8220;<strong># ICHI launches \u2018Decentralized Monetary Authority\u2019 for stablecoin issuance  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMjQ4OWVjNTQtOWNmOS00NWQ5LTg4MGUtMzQ2NzkxZjQxNGM5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Stablecoin issuing platform ICHI has launched a Decentralized Monetary Authority, or DMA, that enables cryptocurrency networks to more easily mint their own stablecoins securely.\u00a0<\/p>\n<p>By utilizing ICHI\u2019s DMA, cryptocurrency communities can create and govern their own fully-collateralized stablecoins and set their value at exactly $1. ICHI\u2019s developers say their platform solves the myriad of challenges associated with existing stablecoins, including the need to sell other cryptocurrencies to mint more tokens. This problem is akin to selling a stock, which simultaneously decreases the value of that stock.<\/p>\n<p>ICHI\u2019s platform seeks to provide the benefits of fiat-backed coins like USDC and USDT without such tradeoffs. Stablecoins issuers on ICHI are known as \u201coneTokens,\u201d and are designed to be pegged to the U.S. dollar and fully collateralized by a combination of fiat coins and the community\u2019s native token. The ICHI network is fully onchain, which means anyone can verify the reserves and collateral pools at any given time. <\/p>\n<p>Projects that launch stablecoins on onToken can create a customized stablecoin contract, develop liquidity mining incentives and operate a community-controlled treasury. <\/p>\n<p>ICHI steward Bryan Gross, who previously served as principal product architect at IBM Blockchain, said the \u201creal promise of DeFi\u201d is much bigger than the current bull market. He said:<\/p>\n<blockquote><p>\u201cOur vision at ICHI is to help give people complete freedom over how they spend, invest, save and and otherwise use their money. ICHI is built to provide every crypto community with the tools they need to operate all aspects of a sustainable, scalable economy while keeping value locked in their own communities rather than transferring value out.\u201d<\/p><\/blockquote>\n<p>Tether remains the de facto stablecoin on the market, having only recently minted its 60 billionth USDT. Earlier this month, Tether finally disclosed its full reserve breakdown for the first time. <\/p>\n<p>The combined value of all stablecoins now exceeds $109 billion, according to industry data. Beyond Tether, USD Coin, Binance USD and DAI have achieved sizable market share.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ichi-launches-decentralized-monetary-authority-for-stablecoin-issuance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# ICHI launches \u2018Decentralized Monetary Authority\u2019 for stablecoin issuance &#8221; Stablecoin issuing platform ICHI has launched a Decentralized Monetary Authority, or DMA, that enables cryptocurrency networks to more easily mint their own stablecoins securely.\u00a0 By utilizing ICHI\u2019s DMA, cryptocurrency communities can create and govern their own fully-collateralized stablecoins and set their value at exactly $1&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":260750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMjQ4OWVjNTQtOWNmOS00NWQ5LTg4MGUtMzQ2NzkxZjQxNGM5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,75493,82350,36041],"class_list":["post-260749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-stablecoin","tag-usd-coin","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=260749"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/260750"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=260749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=260749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=260749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}