ICHI launches ‘Decentralized Monetary Authority’ for stablecoin issuance
Stablecoin issuing platform ICHI has launched a Decentralized Monetary Authority, or DMA, that enables cryptocurrency networks to more easily mint their own stablecoins securely.
By utilizing ICHI’s DMA, cryptocurrency communities can create and govern their own fully-collateralized stablecoins and set their value at exactly $1. ICHI’s developers say their platform solves the myriad of challenges associated with existing stablecoins, including the need to sell other cryptocurrencies to mint more tokens. This problem is akin to selling a stock, which simultaneously decreases the value of that stock.
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