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ICHI

USA, North Carolina
Market: Blockchain
Stage of the project: Operating business

Date of last change: 04.11.2022
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Idea

Liquidity is the lifeblood of DeFi - but it doesn’t come cheap. Until now. ICHI allows any Web3 project to create deep liquidity with ease, while earning liquidity providers a passive income.

Current Status

ICHI’s Vaults have generated token-denominated IRRs above 40+% for 14 different projects and we expect this to remain at 5-20% in the long run. We have grown to $15m+ TVL over the last 3 months, partnering with leading web3 projects like 1INCH, Qredo, Filecoin, Gnosis, Boba and Giveth. Now, we are targeting 100+ assets from over 30+ communities totaling $150M TVL by Q2/Q3 of 2023.

Problem or Opportunity

Decentralized Finance (DeFi) applications today are largely fragmented. Each is largely a take-it-or-leave-it proposition, with features programmed by different communities for their own benefit. Specifically, we believe decentralized exchanges are designed for the wrong user. Even though they rely heavily on Liquidity Providers to function - almost all LPs on these exchanges are currently running at a loss. Arbitrage agents are significantly more profitable than LPs, most often at the LP's expense. This makes it risky and expensive for average users to provide liquidity, and use DeFi.

Solution (product or service)

ICHI has made a ‘greedy’ approach to actively manage liquidity on top of DeFi's biggest DeX - Uniswap V3. Our protocol provides stability and income to any web3 project and its community. With ICHI, users can provide liquidity to their favorite projects while maintaining long exposure to their tokens. Simultaneously, projects can solve price volatility without sacrificing token scarcity, and eventually build deep, slippage resistant liquidity for any token of their choice.

Business model

ICHI is a decentralized autonomous organization (DAO), and is governed by its token holders. These ICHI tokens represent the value generated and held by the community at any time. Our tokens live on both the Ethereum and Polygon chains currently.

ICHI tokens are paired with protocol tokens in liquidity pools on Uniswap, and they accrue value by delivering deep liquidity to these projects. As our partners vaults grow in number and TVL, so does the value of ICHI. Hence, ICHI token's price is supported by the growth of the broader ecosystem.
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