Stablecoin issuing platform ICHI has reportedly rolled out a Decentralized Monetary Authority (DMA), which facilitates simplified secured stablecoin minting for crypto networks. 

Specifically, via utilizing ICHI’s DMA, crypto communities will reportedly have the power to build and govern their own fully-collateralized stablecoins, as well as determine value at precisely $1.

ICHI’s developers reportedly claimed that their platform can offer solutions to numerous problems related to the current stablecoins, including the need to sell other cryptocurrencies to mint more tokens. This challenge has similarities to selling a stock, which concurrently bring down the value of that stock. 

ICHI’s platform’s primary goal is reportedly to make the advantages of fiat-backed coins such as USDC and USDT, with no trade offs like that involved. 

ICHI-based stablecoins issuers are reportedly referred to as “oneTokens”, and are built to have a pegging with the US dollar, and entirely collateralized by a combination of fiat coins and the community’s native token.

The ICHI network is reportedly entirely on chain, enabling reserves and collateral proofs verification for any individual at any point in time.

Initiatives that roll out stablecoins or one token can reportedly form a customized stablecoin contract, develop liquidity mining incentives and operate a community-controlled treasury.

“Our vision at ICHI is to help give people complete freedom over how they spend, invest, save 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.” ICHI steward Bryan Gross, formerly a principal product architect at IBM Blockchain, reportedly remarked.