xICHI
$xICHI is the governance token for ICHI. $xICHI holders can vote on proposals and participate in the DAO
Staking ICHI tokens gives stakers xICHI. xICHI gives users:
- 1.ICHIpowah to propose and vote on ICHI governance proposals to determine future features and/or parameters of the ICHI platform as well as protocol improvements, with voting weight calculated in proportion to the tokens staked.
- 2.Rewards for participating in governance proposals. It is the community members which would drive development of the ICHI platform, so token incentives would need to be distributed to compensate them for their time, expertise and effort. Only users who have participated in submission of proposals, commenting, reviewing and/or voting will be entitled to receive ICHI token governance rewards.
Disclaimer: The right to vote is restricted solely to voting on features of the ICHI platform; the right to vote does not entitle ICHI holders to vote on the operation and management of any legal entity, their affiliates, or their assets or the disposition of such assets to token holders, and does not constitute any equity interest in any of these entities). The arrangement is not intended to be any form of joint venture or partnership.
All ICHI Branded Dollars and Vaults, when deployed for ICHI or other projects, earn fees and yield that contribute revenue to xICHI (staked-ICHI) holders. All of the revenue that goes into xICHI, contributes towards increasing the ICHI/xICHI ratio as shown on the ICHI app. As the ratio increases, the value of xICHI rises compared to the value of ICHI.
Branded Dollars pay yields earned on treasury/collateral investments. 80% of yield stays in the assets backing the Branded Dollar. 20% goes to xICHI holders as a governance reward.
Vaults pay earned Uniswap v3 trading fees. 80% of Uni V3 fees go back to vault depositors, 10% goes to xICHI holders, 10% goes to vault managers paying for and enabling rebalances.
Last modified 1yr ago