1inch to launch dollar-pegged stablecoin with ICHI The new on | Insider Calls

1inch to launch dollar-pegged stablecoin with ICHI

The new one1INCH stablecoin will be collateralized by a combination of USDC and 1inch's native token.

1inch said it planned to mint a stablecoin “with a blend” of its native 1INCH token and USD Coin (USDC) through ICHI’s Decentralized Monetary Authority, or DMA. The new one1INCH stablecoin — all issuers on ICHI begin with the prefix "one," referring to its Japanese namesake — is aimed at providing a medium of exchange to pay operating expenses, provide liquidity, and distribute liquidity rewards.

Source: https://cointelegraph.com/news/1inch-to-launch-dollar-pegged-stablecoin-with-ichi?utm_source=Telegram&utm_medium=social