How to Deposit $ICHI to Bancor

Published on: 02.10.2021
How to Deposit $ICHI to Bancor

ICHI released article explaining how to earn $xICHI when you deposit your $ICHI to Bancor.

Since the passing of proposals, ICHI holders can provide single-sided liquidity, depositing only ICHI into the ICHI-BNT pool and earning. Rewards for providing liquidity are awarded every two weeks in xICHI (providing exposure to added governance capabilities and payouts). ICHI holders can provide liquidity to the Bancor pool with just $ICHI and maintain 100% exposure to the token. In contrast, other AMMs require LPs to take on exposure to multiple assets. When depositing your $ICHI, if you keep it staked for more than 90 days, Bancor insures impermanent loss protection.

🔹5 Steps to Add Single-Side Liquidity (Deposit)

Step 1: Make sure ICHI is in your wallet and you have ETH for gas fees.

Step 2: Go to https://app.bancor.network/eth/data/

Step 3: Search “ICHI” in the the Pools category then click the + button.

Step 4: Enter the amount you want to deposit then click Stake and Protect.

Step 5: Confirm the transactions in the app and in MetaMask (x2).

About ICHI

ICHI is a self- sustaining, community governed infrastructure that enables any cryptocurrency community to create and govern their own in-house, non- custodial oneToken (a stablecoin valued at $1). ICHI introduces an innovative DAO- like governance model for the overarching decisions made on the development of the entire platform, incentivizing adoption and encouraging real commitment to the ICHI community for its members.

About Bancor

Bancor is the first decentralized trading protocol, empowering traders, liquidity providers & developers to participate in an open financial marketplace with no barriers to entry. No one needs permission to use the open-source Bancor Protocol.

📰 INFO

https://medium.com/ichifarm/how-to-deposit-ichi-to-bancor-afbda9175c7b

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