(April Fools' joke) Introducing 1IS, the 1inch Stablecoin
Guys, please don't take this information too seriously. Just check your calendar and relax, it's an April Fool's Day joke, and nothing more.
Amidst the turmoil in the traditional banking sector, recently, USD Coin (USDC) temporarily lost its peg to the US dollar. Meanwhile, regulatory issues have surfaced for BUSD in recent months, highlighting a true need for an even more stable, SBF-resistant and unicorn stablecoin.
Enter the 1inch Stablecoin (1IS), which aims to build a free trade and economic interaction system powered by the next-generation blockchain technology. The 1inch platform will offer users the best swapping routes for trading stable tokens efficiently and freely. Through decentralized self-governance, the issuance, circulation, and trading of 1IS will allow for the distribution of economic value in ways never seen before. The launch of the 1inch Stablecoin represents a significant step towards mass adoption of cryptocurrencies.
1IS will facilitate a decentralized economy that allows everyone to buy, sell, and hold stablecoins without relying on any centralized service providers. Legislative power will be transferred from opaque centralized authorities to trustless and transparent codes. The rules and platforms will be entirely transparent and based on faithfully executed smart contracts.The technology is almost ready, and we value our fantastic community's input in this process. We will collate feedback from community members across different platforms as we choose a fiat currency to which the 1inch Stablecoin will be pegged. Currently, 1IS is pegged to USD at a 1:2.54 ratio to ensure its high price stability.