How to Deposit $ICHI to Bancor

3 min readOct 1, 2021

Earn xICHI when you deposit your $ICHI to Bancor. If you stake for more than 90 days, Bancor insures impermanent loss protection.

Background

Bancor<>ICHI Proposals Passed

April 26th, 2021: ICHI is Whitelisted on Bancor
June 10th, 2021: Additional investment into ICHI<>BNT Pool

Since the passing of proposals, ICHI holders can provide single-sided liquidity, depositing only ICHI into the ICHI-BNT pool and earning. Rewards for providing liquidity are awarded every two weeks in xICHI (providing exposure to added governance capabilities and payouts). ICHI holders can provide liquidity to the Bancor pool with just $ICHI and maintain 100% exposure to the token. In contrast, other AMMs require LPs to take on exposure to multiple assets. When depositing your $ICHI, if you keep it staked for more than 90 days, Bancor insures impermanent loss protection. Read more here.

5 Steps to Add Single-Side Liquidity (Deposit)

Step 1: Make sure ICHI is in your wallet and you have ETH for gas fees.

Click here to buy $ICHI with the 1inch exchange.

Navigation to the ICHI-Bancor Pool

Step 2: Go to https://app.bancor.network/eth/data/

Step 3: Search “ICHI” in the the Pools category then click the + button.

You are now to the ICHI/BNT Add Single-Side Liquidity page. This is where you will add your $ICHI to the pool.

Step 4: Enter the amount you want to deposit then click Stake and Protect.

Step 5: Confirm the transactions in the app and in MetaMask (x2).

Your $ICHI single-sided liquidity stake should now appear on the Portfolio interface. (If it doesn’t, click refresh).

Success! Your $ICHI is now staked at Bancor. Information on your stake, protected positions, rewards, etc. will show in the Portfolio page.

For more information on the rewards system when providing single-sided liquidity to Bancor, please see here.

3 Steps to Withdraw Liquidity

Step 1: Click the withdrawal icon on the right of your portfolio page. The length of your existing impermanent loss coverage will show.

Step 2: Input the % of ICHI you would like to withdraw and click Continue.

Step 3: Confirm the transaction in MetaMask & you have successfully withdrawn your $ICHI.

ICHI Explained:

ICHI is a self- sustaining, community governed infrastructure that enables any cryptocurrency community to create and govern their own in-house, non- custodial oneToken (a stablecoin valued at $1). ICHI introduces an innovative DAO- like governance model for the overarching decisions made on the development of the entire platform, incentivizing adoption and encouraging real commitment to the ICHI community for its members.