The crypto industry has a liquidity problem. Projects have long relied on untrustworthy centralized exchanges and market makers for their tokens to retain value and become mediums of exchange. These broken centralized systems were built into the crypto infrastructure, an industry still learning to operate in line with the traditional financial world. Given instances like FTX and Celsius, it is imperative that the whole crypto space leaves the establishments of centralized and trusted entities and begins to use tools built to be open source, trustless, and decentralized. As we enter 2023, we at ICHI have taken measures and created new systems to operate efficiently, decentralized, and transparently while providing solutions to help solve crypto’s liquidity problem.
ICHI began in 2020 as a fair launch project. It was started by a small team of contributors who took no salary and wanted to build technology to support other crypto projects. Through its Branded Dollar and Vault protocols, ICHI has built protocol-owned liquidity for many partner projects and created a reputation as a project here to stay. As we move into the new year, ICHI is excited to continue increasing its momentum, as its deep-liquidity-building technology has only found a more robust product market fit in the struggling crypto market.
ICHI is well-positioned for growth due to Vault automation and its strong fit within the market. However, to grow at anticipated rates, it is time for the community to increase its operational capacity. To make this happen, the ICHI team has established a new decentralized workstream structure and community leadership team with the assistance and support of core contributors and project backers. In this new structure, there will be an emphasis on transparency, accountability, and deliverable targets for all community contributors. These contributors will be tasked to grow the ICHI protocol and facilitate the growth expected by the community. In addition, ICHI will be supporting a new grants program to support high-growth campaigns for the organization.
DAOs are a new-age form of organizational structure where a central form of governance oversees the organization’s operation. For ICHI, the $ICHI token has always acted as the governing authority over the project. There are multiple ways for project supporters and holders to vote on ICHI proposals, including holding the token in a wallet and deploying it to specific liquidity pools. With this new structure, ICHI plans to have more community discussions, proposals, and votes over the next year. As a result, staying updated with ICHI community news and announcements is more critical than ever, as these votes will be essential to growing the ICHI protocol.
We hope you join us on our journey towards stronger decentralized systems to save the liquidity problem plaguing our industry.
Join the discussion and learn more about participating in the DAO in ICHI’s Discord.
