New ICHI Angel Vault Brings Better DeFi Rewards to the Bitcoin Ecosystem
ICHI, the DeFi-native project giving other crypto protocols control over their own DeFi programs, announces it has gone cross-chain by launching on Polygon. DeFi users will now benefit from lower transaction fees when using ICHI’s revolutionary protocols that empower crypto projects with community-controlled DeFi capabilities.
ICHI enables any crypto project to earn revenue from stablecoins and liquidity programs, two critical components of Decentralized Finance that typically remove value from protocols. For example, crypto projects that need stable assets to conduct business are forced to sell their tokens in exchange for traditional stablecoins like USDC or USDT. At the same time, traditional liquidity programs force crypto projects to put their tokens up for sale in exchange for necessary liquidity.
ICHI solves both of these problems through a DeFi-native model where crypto projects can create stable assets — called oneTokens — and liquidity programs — ICHI Angel Vaults — that keep value in the community.
ICHI is celebrating the launch on Polygon with a new Angel Vault specifically designed for the Bitcoin community to earn rewards by investing Bitcoin. The new Bitcoin Angel Vault on Polygon allows users to deposit oneBTC, a community-focused stablecoin built by ICHI and backed by Bitcoin, to earn rewards. oneBTC and the Bitcoin Angel Vault on ICHI allow Bitcoin HODLers to keep their Bitcoin while also earning passive yield. Bitcoin holders can mint oneBTC through a combination of wrapped Bitcoin and USDC through the ICHI app.
“We want oneBTC to help fulfill the vision of Satoshi Nakamoto by incentivizing the Bitcoin community to hodl Bitcoin using ICHI Angel Vaults in a stable manner,” said Bryan Gross, Network Steward, ICHI and CEO of DMA Labs.
The launch on Polygon follows ICHI’s recent funding round raised through a private token sale by the ICHI Foundation. ICHI is already used by the 1inch, Filecoin, Uniswap, Fuse, Shapeshift DAO communities and others.
ICHI empowers any cryptocurrency project to better control and grow its own economy. Through the ICHI Decentralized Monetary Authority (DMA) and Angel Liquidity Vault protocols, ICHI is sowing the seeds of DeFi 3.0.
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Source : cryptodaily.io