$oneFUSE: More Stability for Day-to-Day Crypto Mobile Payments
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TL;DR
- ICHI has deployed the oneFUSE stablecoin for the Fuse community
- Fuse provided $100k to support the oneFUSE treasury
- Fuse provided 100k $FUSE tokens for ICHI to run a validator node
- Initial minting ratio will be set to 80% ($0.80 USDC + $0.20 FUSE to mint $1 oneFUSE)
- ICHI will provide $ICHI rewards to oneFUSE depositors
- oneFUSE will be governed by its holders long term
Launched today by the ICHI Community, $oneFUSE is a stablecoin for the Fuse Community. ICHI launched $oneFUSE by deploying a Decentralized Monetary Authority (DMA) to manage minting, redemption, and treasury capabilities of the stablecoin.
Fuse is building the Infrastructure for Open-Source Money allowing anyone to build community-centric, mobile-first payment systems with zero coding experience on a low-cost, DeFi platform. $oneFUSE will be a stablecoin for this community that can be used to pay operating costs, provide liquidity, earn rewards, and create USD exposure across Fuse’s operations.
What is Fuse?
The Fuse chain is an Ethereum sidechain designed specifically to replace traditional means of exchange and make payments on the blockchain more accessible for mainstream audiences.
Designed for easy integration of everyday payments, the Fuse network is anchored to Ethereum using a bridge which allows any token to freely move between Ethereum and the Fuse-chain. A Token is minted on Ethereum and then moved to the Fuse-chain, where it gets access to a wide range of features and business plugins that bring it to life.
Where can I get $FUSE?
You can swap for $FUSE on Uniswap.
How do I mint oneFUSE?
You can mint $oneFUSE from the ICHI application by providing part $FUSE and part $USDC to mint $oneFUSE. You will pay exactly $1 of value for each $oneFUSE.
The initial Minting Ratio is 80% $USDC, 20% $FUSE.
How do I redeem oneFUSE?
You can redeem $oneFUSE from the ICHI application for $USDC. You will receive exactly $1 of value (less a 0.45% redemption fee) for each $oneFUSE.
How do I earn ICHI rewards with oneFUSE?
Deposit $oneFUSE in the ICHI rewards contract to start earning $ICHI rewards.
$ICHI rewards for $oneFUSE will begin 48hrs after the $oneFUSE launch.
Where can I learn more about ICHI V2?
Here is the ICHI V2 announcement: https://medium.com/ichifarm/announcing-ichi-v2-d69cebc47d25
