In a Thursday announcement, 1inch said it planned to mint a stablecoin “with a blend” of its native 1INCH token and USD Coin (USDC) through ICHI’s Decentralized Monetary Authority, or DMA. The new one1INCH stablecoin — all issuers on ICHI begin with the prefix “one,” referring to its Japanese namesake — is aimed at providing a medium of exchange to pay operating expenses, provide liquidity, and distribute liquidity rewards.
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Source: Cryptocurrency - investing.com
