Inflation Hedging Coin IHC Raises $10 Million
Rancakmedia.com – Inflation Hedging Coin IHC is becoming increasingly significant to the current global situation, as the world slides into a recession that many predict will be the deepest since World War II.
The effect of inflation on us is to depreciate our possessions, giving us less purchasing power in our money. An illustration of inflation is that in 1913, one dollar had the same purchasing power as $27.58 today.
Currently, the United States Federal Reserve and other central banks around the world have engaged in quantitative easing and other economic measures that increase bank liquidity, but risk increasing inflation.
Steps have been taken by central banks through purchasing long-term assets from the market to increase the money supply. The aim is to minimize inflation by providing incentives for lending and investment activities, and deprioritizing savings and prudence.
Purchases of approximately $80 billion worth of gems and $40 billion worth of mortgage-backed securities were made monthly by the Federal Reserve in the summer of 2020. The balance sheet suggests crossing the $8 trillion milestone.
The answer to this predicament is a new kind of currency, which encourages smart decisions like saving and ensures people's purchasing power doesn't diminish over time.
What Is Inflation Hedging Coin
Inflation Hedging Coins (IHC) is one of these currencies. It is also one of the most publicized initiatives that garnered widespread support – the proof is that IHC managed to raise $10 Million USD in just 30 seconds.
How Inflation Hedging Coin IHC Fights Inflation
IHC is a cross-chain cryptocurrency, working on the Ethereum network and the Binance Smart Chain. Through periodic IHC burning events set by the US inflation rate, IHC values remain stable.
The burning event will continue until the overall market capitalization is equal to the number of tokens held by the total number of holders held.
Every IHC transaction is subject to a 5 percent fee which will be collected and distributed to every other token holder periodically in an effort to motivate them to save more instead of speculating in other activities with the token.
None of the accrued payments went to the IHC founders and their team. Another indicator that makes IHC less volatile than other cryptocurrencies in the sector is when it is not involved in trading or other speculative activities.
Currently, the IHC team is building an on-chain wallet application to extend features and provide token holders access to the service finance more simply.
The wallet app will combine lending services and yield farming to guarantee savings, as it's easier for consumers on-chain.
The IHC team consists of specialists from many sectors such as blockchain engineers, entrepreneurs and others with more than 20 years of combined expertise in global financial markets. Its experts have expertise in many fields and have operated companies from Wall Street to Ulaanbaatar.
Blockchain and cryptocurrency specialist Gantig Bayarmagnai is the co-founder and CEO of this initiative. Apart from launching IH Bit LLC and Cryptocurrency Mongolia Group, he also founded Silkchain Capital, VeChain's national agent in Mongolia.
IHC Inflation Hedging Coin Accelerating Cryptocurrency Global Shift
This Saturday, October 9 2021, will be an important day for the world of boxing. To strengthen cryptocurrency acceptance worldwide, IHC teamed up with former world heavyweight 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 an IHC-sponsored fight as part of the company's goal to accelerate the global shift to cryptocurrencies. Deontay Wilder has claimed in a press release that he is "excited to have IHC" sponsor him.
Munkhjin Otgonbaatar, co-Founder and chief financial officer of IHC said Deontay “exemplifies everything a champion should be challenging, tenacious and disciplined.
He is a true rebel fighting against injustice and social inequality, whereas IHC is a rebellious cryptocurrency fighting against inequality and injustice of over-production of money by central banks around the world.”