A Decentralized Monetary Authority to Finally Realize Satoshi’s Vision of...

good morning everyone thanks for coming for those of you streaming at home thanks for hopping on my name is grace fluger a little bit of an introduction on me i'm actually local to denver um a big reason why i got chosen for this talk i love all things colorado and a little fun fact i'm actually an officer in the army reserve so shout out to any service members or veterans out there oh thank you and i have a background in web too but i'm very thrilled to have joined the web3 space and today i'm here representing ichi i'm very passionate about what we're doing and excited to share with you all i also want to preface this talk by saying that i am on the business development team at ichi i do have our genius head of product daniel on the line here ready for the q a so we'll be doing about 10 minutes of talking and i want to leave plenty of time for questions and conversation so think of those as we go through this so you're probably wondering what is ichi first and foremost we are a dao governed by its ichi holders our main goal is building out sustainable defy practices and we want crypto to thrive i'm sure all of you in the room also want crypto to thrive um and our founders were really motivated to solve problems that protect its future so the overarching theme here that we'll come back to again and again is giving the control back to the community for a more decentralized d5 system how are we doing that ichi is really giving three different opportunities to uh to the crypto community one is increasing tvl increasing total value locked as well as the opportunity for protocol-owned liquidity and most importantly aligning the goals of protocols for their d5 users what is the problem today tokens have a value but projects are forced to sell their tokens on exchanges which then diminishes its value losing control of their liquidity and we are trying to offset that somewhat broken system with a few different solutions there are three pillars of d5 one being stable coins which we're solving with our branded dollar two being exchange which we just launched a product last month called an angel vault and third um would be lending and we won't talk about this too much today but please feel free to ask more questions about it we have a rari fuse pool addressing the the lending pillar of d5 so ichi is covering all three pillars of d5 and happy to dig into it now so what is a branded dollar i think the nickname i like to give it is like a an easy bake oven for a stable coin we're basically making it a diy do-it-yourself opportunity for projects to create their own stable asset how are we doing this we are minting branding dollars with usdc and the native scarce token so why would a project want to do this three reasons we are very capital efficient which means if users put one dollar in they get one dollar out they use these treasuries to lock in your community's scarce crypto and the key here is that now people are buying your token to get stable asset and not selling it i am very excited to share with you that we have over 30 million branded dollars that have been minted so far we're working with some of the biggest projects in the space including shapeshift dodo one inch file coin and fuse we have more to come in the future and moving on from our stablecoin pillar of defy into our exchange pillar of d5 we have our angel vaults which again was just launched last month but we already have some really cool projects who have already launched including shapeshift fuse and wing finance and again more to come so what is an angel vault at its core in angel volts angel vaults are helping teams to protect their token price with protocol owned liquidity which again is significant because when projects put their tokens on the exchange their their value of their token is being diminished and they're more vulnerable to volatility as well so the problem that our founders were really trying to solve with angel vaults is that we noticed a trend when ethereum dips the rest of the market tends to follow so our founders really wanted to figure out how can we be more resilient to this trend we are talking to projects every day about diversifying their liquidity strategies and allowing their assets to work for them and not against them we do this by allowing them to put their community controlled liquidity underneath the token via unisopv3 this allows them full control of a single-sided stable asset and meanwhile and most importantly the value grows through community earned fees and effective trading positions for their users so this is a visual this is actually a screenshot from uniswap v3 concentrated liquidity i like to say that we're building walls not related to the immigration policy of our former president but we are in fact building walls for projects to help create resistance from the price going down so these big bars to the left is what we would call the angel vault again this is protocol and liquidity and really just creating more resistance from the price going down so people would have to sell or x mini each you would have to be sell sold in order for the price to go down and this is creating buy side pressure only um so that we're helping to stabilize the token price that red line is the price of eg again feel free to think of questions so to prove out the stability of our token with our angel volts these are just some screenshots from that market crash in mid-january you can see that ichi held strong during the crashes while the rest of the market was 15 down again this is because we decided to look at liquidity in a different way instead of putting all of our liquidity out on exchanges we wanted to hold it keep it for ourselves and protocol and liquidity and put it in a vault to ensure stability of our price and what happened next our price went up because people realized that we were staying strong against the price of eth and we're also like i mentioned the other ones that we launched with we're helping projects do the same um so really cool effect i guess you could say that we are creating resistance from the price going down and naturally our community felt very comfortable and confident about investing in eg so then our price went up so where is ichi going um and why should you all care i think the the biggest thing to remember here is that d5 is moving so fast at incredible speeds and i think we all need to take some time to recognize what is going well what could be better and how can we make it better because um it's meant to be decentralized we're supposed to we're supposed to come up with it so the goal here for ichi is that we want everyone to create branded dollars and angel vaults in order to create more stability and comfort in the crypto space and in the crypto market as well as ensure growth of the crypto community with less negative volatility our goal as a project is to hit 1 billion in tvl total value locked by the end of 2022 so that is all that i had ready for you guys