Inflation is becoming more and more relevant to the current global conditions, as the world is going into a recession which many believe to be the deepest since the Second World War. The inflation impact on us is devaluing our holdings, giving us less purchasing power on our money.
An example of inflation is that in 1913 a single dollar had the same purchasing power that $27.58 have today. Nowadays, the Federal Reserve and other central banks throughout the world have been engaging in quantitative easing and other economic policies that increase banks’ liquidity, but risk increasing inflation.
Measures have been taken by the central bank through purchases of long-term securities from the market to increase the money supply. The goal was to lower inflation through incentivization on lending and investment activities, and deprioritization on savings and prudence.
Purchases of over $80 billion worth of Treasures and $40 billion worth of mortgage-backed securities were made each month by the Federal Reserve in the summer of 2020. The balance sheet indicated passing through the $8 trillion mark.
The solution to these problems is a different type of currency, one that rewards prudent moves such as saving and ensures people’s purchasing power doesn’t vanish over time. Inflation Hedging Coin (IHC) is one such currency. It is also one of the most hyped projects receiving widespread support – evidence is that the IHC managed to raise $10 Million USD in under 30 seconds.
How IHC Fights Inflation
IHC is a cross-chain cryptocurrency, running on both Ethereum (ETH) and Binance Smart Chain (BNB) networks. Through regular burning events of the IHC determined by the U.S. inflation rate, the value of the IHC remains stable. Burning events will continue until the total market capitalization is equal to the number of tokens that the total number of holders have in possession.
Each IHC transaction incurs a 5% fee that will be accumulated and redistributed to every other token holder regularly in a bid to incentivize them to save more instead of speculating in other activities with the tokens. None of the accumulated fees goes towards the IHC’s founders and their team.
Another measure that shapes IHC as less volatile than other cryptocurrencies in the space is when not engaging in trading or other speculative activities.
Currently, the IHC team is developing an on-chain wallet application to improve functionalities and grant token holders with access to financial services more easily. The wallet application will include lending and yield farming services to ensure saving, for example, is easier for users on-chain.
The IHC Team is made up of experts from various fields and includes blockchain developers, entrepreneurs, and more with over 20 years of combined experience in global financial markets. Its advisors have experience in various sectors and have run operations from Wall Street to Ulaanbaatar.
The project’s co-founder and CEO Gantig Bayarmagnai is a blockchain and cryptocurrency expert in Mongolia. Besides founding IH Bit LLC and the Cryptocurrency Mongolia Group, he also co-founded Silkchain Capital, a country representative of VeChain in Mongolia.
Accelerating the global transition to cryptocurrency
This Saturday, October 9 2021, will be a major day for the world of boxing. To bolster cryptocurrency adoption throughout the world, IHC is joining forces with former heavyweight world boxing champion Deontay “The Bronze Bomber” Wilder for the WBC World Heavyweight Championship in Las Vegas.
Deontay’s fight against Tyson Fury will see the fight appear in IHC sponsored fight trunks as part of the company’s mission to accelerate the global transition to cryptocurrencies. Deontay Wilder has said in a press release he is “excited to have IHC” sponsor him.
Munkhjin Otgonbaatar, co-Founder and CFO of IHC noted Deontay “exemplifies everything a champion should be – rebellious, resilient, and disciplined. He is a true rebel who fights against social injustice and inequality, while IHC is a rebel cryptocurrency that fights against the inequality and injustice of exuberant money printing practiced by central banks across the globe.”
How to buy IHC?
IHC coin is currently available and traded on two DEXes, ApeSwap and PancakeSwap. As part of the company’s roadmap, the token is planned to be listed on two centralized exchanges, which should take place in late October 2021. All listing news will be announced to the community on the available communication channels and social media platforms. For more information on how to get your IHC and support the project, please visit the IHCoin website.
Source link
