ICHI Partners with THENA: Pioneering On-Chain Market Making On BNB Chain
ICHI has partnered with THENA, a next-generation liquidity layer operating on the BNB Chain, specifically designed to be a protocol for protocols. This partnership marks the opening of on-chain market-making vaults, aimed at reducing downside volatility, thereby enhancing the overall resilience of the DeFi ecosystem.
Unveiling THENA
This next-generation liquidity layer operates on the BNB Chain (BSC) and is specifically designed as a protocol for other protocols. THENA’s unique approach ensures that its main stakeholders — veTHE holders, Liquidity Providers (LPs), users, and protocols — are aligned through innovative ve(3,3) dynamics that govern $THE emissions. $THE emissions, combined with protocol bribes and pool-generated fees, serve as the foundational pillars of THENA’s economic model.
At its core, THENA is a decentralized exchange protocol that brings together the best elements of popular platforms like Curve and Uniswap. THENA has also launched the first intent-based perpetual exchange on BNB, currently in beta (alpha.thena.fi). The result is a trading experience characterized by low fees and minimal slippage. Another distinctive feature of THENA is its ability to generate passive income streams for users. There are no deposit or withdrawal fees, and individuals maintain full control over their assets. This means that users can stake their assets on the platform and enjoy a hassle-free source of income.
THENA is more than just another DeFi platform; it represents the future of DeFi liquidity. With a commitment to security, transparency, and community-driven governance, THENA is poised to become the go-to solution for DeFi projects seeking to flourish in the BNB Chain ecosystem. As a protocol for protocols, it exemplifies the core principles of openness, accessibility, and innovation.
On-Chain Market Making
Market making is a crucial element in DeFi, providing liquidity and stability is key in the often turbulent seas of crypto markets. ICHI’s Yield IQ is a groundbreaking solution designed to enhance the resiliency and efficiency of market making. It offers a streamlined approach for the deployment of assets on-chain, providing market makers with the essential liquidity needed for DeFi projects to thrive. In doing so, Yield IQ not only enhances THENA’s resilience but also fortifies the broader DeFi ecosystem, ensuring that liquidity provision remains steadfast even in the face of market uncertainty.
Yield IQ Vaults
The heart of this partnership lies in ICHI’s automated, single-deposit Yield IQ vaults, which have earned a reputation for their effectiveness in creating market-making opportunities. In simple terms, ICHI’s vaults allow assets to be deployed on-chain (single token deposits), enabling market makers to provide liquidity in an efficient and decentralized manner. This liquidity, in turn, facilitates smoother trading and can help reduce the downside volatility experienced in bear markets. Market makers, using ICHI’s vaults, are better equipped to handle market fluctuations, providing the essential liquidity needed to support DeFi projects.
Why Yield IQ? Simplicity and results. It offers:
- Single-token liquidity deposits
- Automated management that grows deposits of this token
- Vigilantly adjusts the liquidity composition between the two tokens, mitigating the risk of over-selling the deposited token
Users are now able to deposit into Yield IQ vaults through THENA’s user-friendly interface. The following pairs are available and ready for anyone who wishes to provide liquidity using Yield IQ.
BNB-THE
USDT-THE
ETH-THE
USDC-THE
ICHI Vaults are reshaping the crypto landscape with an innovative approach to managing liquidity. These vaults welcome single-sided deposits of blue-chip assets, pairing these deposits with the Thena token, $THE, to strengthen its liquidity.
In simple terms, there’s a close connection between the liquidity of blue-chip assets and the $THE token. As more blue-chip assets enter the system, $THE gains resilience against market volatility, benefiting the Thena community.
This strategy is referred to as ‘Vault Power.’ Thena’s goal is to maximize this Vault Power, with a target of around 40%. Achieving this milestone will strengthen the stability and security of the $THE token, contributing to a more stable and prosperous ecosystem for all.
How Does Yield IQ Work?
Yield IQ’s process is simple and efficient. Users deposit their preferred tokens into the platform, and Yield IQ allocates these tokens into concentrated liquidity AMMs, such as Uniswap V3, without initiating any swaps. In return, users receive LP tokens representing their share in the liquidity pool.
The true magic unfolds as Yield IQ, powered by Chainlink Automation, dynamically adjusts the concentrated liquidity position based on token arrangements and real-time market conditions. Users earn trading fees when trades occur, supplementing potential token appreciation. With vigilant oversight of token composition, Yield IQ guards against harmful arbitrage and market shifts. Users can withdraw their initial deposit and earnings at any time by exchanging LP tokens for their share of assets in the vault.
About THENA
THENA is a decentralized exchange protocol built on BNB Chain that combines the best of Curve and Uniswap to offer an optimal trading experience with low fees and low slippage. Designed to be a protocol for protocols, THENA’s tokenomics allow any project to tap into an open and permissionless incentive marketplace to incentivize liquidity. With an emphasis on security, transparency, and community governance, THENA is the future-proof solution for DeFi liquidity.
About ICHI
ICHI is a trustless market-making protocol that enables the use of sophisticated algorithmic strategies on Uniswap V3. With its fully automated Yield IQ vaults, ICHI allows for all token holders to earn from liquidity provision. True to the spirit of DeFi, Yield IQ is governed by a self-executing smart contract, ensuring impartiality and decentralization. This ensures unrestricted, permissionless access and unalterable protocol behavior, serving as a truly decentralized financial tool.
Learn more by visiting the ICHI Website, Medium, Twitter or Telegram.
