ICHI Docs v3

Branded Dollars (i.e. Decentralized Monetary Authorities or DMAs)

A Branded Dollar is a stable token worth $1.
  • Branded Dollars are minted using a ratio of the project’s scarce token and stable currency like $USDC.
  • Branded Dollars, when deposited, typically produce higher yields than other stable tokens on the ICHI web application.
  • Branded Dollars allow crypto communities to fully govern and benefit from their own currency.
Branded Dollars are ICHI designed stable tokens built for cryptocurrency communities. Branded Dollars keep their value at $1, are purely on-chain, and are supported by a Community Treasury in each Branded Dollar’s native project tokens.


Capital Efficient

While other stable tokens insist that a minter take out a debt position or over collateralize their position 2X or more, ICHI's Branded Dollars do not. Branded Dollars enable minters to deposit exactly 1 USD of value into the minter and receive 1 USD in value back. This is never a debt position and does not pose the risk of being liquidated.


While being stable assets, Branded Dollars provide an additional benefit to holders. They provide holders voting power over the project Community Treasury which holds the scarce crypto assets and can be strategically deployed based on community governance.

Growth Enabling

Existing stable tokens remove value from cryptocurrencies that have to be sold to mint tokens (much like selling a stock decreases the value of that stock). ICHI solves this problem and provides the benefits of fiat tokens like $USDC and $USDT without the trade-offs. This is done through minting stable tokens in two parts: 1-part USD hard pegged stable token, 1-part community scarce crypto (project token). The scarce crypto is then locked in a Community Treasury, removing it from circulation and applying upward price pressure on the asset.

100% on-chain

Being 100% on-chain, Branded Dollars provides transparency that other stable tokens do not. This means anyone can see the $USDC collateral and the tokens paid to mint Branded Dollars on the Ethereum blockchain. Additionally, the entire transaction history of minting, redeeming, and any treasury actions are visible. If the tokens or $USDC are used by the project’s community to create DeFi (decentralized finance) positions, anyone interested is able to see these transactions and positions in the corresponding smart contracts.