I have been encouraged to propose partnering with the ICHI DAO to create $oneSKL: A stablecoin to accelerate the growth of the $SKL economy.
Why?
$oneSKL will increase the value of the $SKL token and provide greater economic freedom to all the contributors to the SKALE. It will leverage the value of the $SKL token without selling it. It is self-defeating to sell $SKL tokens for other stablecoins/fiat. $oneSKL solves this problem by keeping stored value within the SKALE economy when paying dollar-denominated expenses.
$oneSKL will enable predictable budgeting and funding. There is no reason to be worried about market cycles.
More value will be retained within the SKALE economy. Instead of selling $SKL tokens for assets issued by other communities, entities, or governments, SKALE can use its own asset to conduct business or create dollar-denominated exposure/loans in decentralized finance.
What?
Filecoin, 1INCH, Gitcoin, and other top projects are relying on ICHI to build their own stablecoin. The SKALE DAO should partner with ICHI to make $oneSKL, a stablecoin minted with a mix of $USDC and $SKL.
Capital Efficient: $oneSKL will be minted and redeemed for exactly $1, unlike other decentralized stablecoins that rely on debt or algorithms.
Regulated off-ramp: $oneSKL is 1-for-1 redeemable for USDC, which is redeemable for a USD.
Where do I learn more?
ICHI website: https://www.ichi.org/ 15
ICHI Telegram: Telegram: Contact @ichifarm