$BOOTusd: Stable liquidity for the boot.finance community
TL;DR
- ICHI has deployed the $BOOTusd branded dollar
- Initial minting ratio will be set to 100% ($1.00 USDC + $0.00 BOOT to mint 1 $BOOTusd)
- Boot.finance will create BOOT<>BOOTusd pools with staking rewards for liquidity providers
ICHI has deployed a Decentralized Monetary Authority (DMA), a DAO customized for managing a branded dollar, for the boot.finance community to manage $BOOTusd. The dollar managed by the DMA is: capital efficient, collateralized, community governed, and yield bearing. $BOOTusd, a USD denominated base asset, will enable the boot.finance community to grow their initial liquidity as they continue their TGE. All addresses HODLing xICHI on and through January 5th, 2022 were eligible to claim a boot NFT and participate in their initial token auction. Now, all users can contribute ETH to the BOOT token sale and get $BOOT. BOOTusd will start at a 100% minting ratio until enough $BOOT is in circulation in the market at which point minting ratio may begin to decrease.
What is BOOT?
Boot Finance is a project that is focused on an AMM that lets other projects control their own liquidity, with the eventual goal of being the primary AMM/DEX for the majority of projects in Decentralized Finance.
Where can I get $BOOT?
You can buy $BOOT with $ETH through the $BOOT token sale.
How do I mint $BOOTusd?
You can mint $BOOTusd on ICHI by providing $USDC. You pay exactly $1 of value for each $BOOTusd.
The initial Minting Ratio is 100% $USDC, 0% $BOOT.
How do I redeem $BOOTusd?
You can redeem $BOOTusd on the ICHI application for $USDC. You will receive exactly $1 of value (less a 0.45% redemption fee) for each $BOOTusd.
What can I do with my $BOOTusd?
$BOOTusd will be used as a complementary asset to all $BOOT pools on the boot.finance AMM. Users will be able to provide liquidity and earn $BOOT in the coming weeks.
How to Mint $BOOTusd in 5 Steps:
Step 1: Connect your wallet at app.ICHI.org (top right).
Step 2: Enter the Mint page from the side-bar.
Step 3: Enter the Amount you wish to mint.
Step 4: Approve and Confirm an Ethereum transaction for the 100% $USDC being used to mint $BOOTusd.
Step 5: After you’ve approved both transactions you can go ahead and click the Mint button… Success!
