“Decentralized finance is the long run. Cryptocurrency helps folks dwell in a neighborhood with out the normal intermediary bills. It offers equal alternatives for everybody.” – Ider-Od, co-founder of IHC.
Mongolia is a landlocked growing nation, sandwiched between two big neighbors – China and Russia, situated within the heart of the Asian continent, far-off from seas, oceans, and most significantly, from worldwide buying and selling networks. Additionally it is the seventeenth largest nation by its territory, with a land richly endowed with pure assets. Nonetheless, its unfavorable geographical place has prevented the nation from turning into an export-oriented financial system and reaching sustainable financial progress. Furthermore, Mongolia’s financial system, which is the 132nd largest primarily based on its gross home product, has skilled the worst setback since its financial transition within the early Nineties as a result of strict COVID-19 restrictions imposed by the federal government over the previous two years.
5 entrepreneurs, Ider-Od Bat-Erdene, Erkhembayar Byarsaikhan, Gantig Bayarmagnai, Munkhjin Otgonbaatar, and Munkh-Erdene Burenjargal, are searching for modern options for reaching financial progress and assuaging poverty by making cryptocurrency the primary driving power for producing and bringing wealth into the nation.
“Cryptocurrency is borderless. It’s the key answer for nations like Mongolia for tackling financial points. We need to empower the powerless by protecting huge cash, authorities, and federal banks in examine to offer equal alternatives for everybody.” – Gantig, co-founder of IHC.
With over 100 billion token orders fulfilled after its launch at 11 a.m. on August 25, the Inflation Hedging Coin (IHC), a brand new cryptocurrency created by tech-savvy entrepreneurs, broke the web. Inside simply 30 seconds, 1000’s of fanatics invested 10 million USD within the newly created tokens, making it one of many fastest-selling cryptocurrencies on the planet.
IHC launched 100 billion tokens with 25 billion equally positioned on 4 totally different cryptocurrency exchanges: coinhub.mn, commerce.mn, complicated.mn, and dax.mn. IHC has a complete provide of 1 trillion cash, of which 100 billion are actually publicly owned. It took solely 11 seconds on DAX, 43 seconds on Coinhub, 1 hour on Complicated, and Commerce for folks to purchase up all of the obtainable tokens, with two of the platforms crashing and overwhelmed by over 100 thousand guests.
Based mostly on blockchain know-how, Inflation Hedging Coin goals to introduce an ecosystem of economic providers, together with seamless transactions. IHC founders share a imaginative and prescient for making a decentralized answer to combating inflation.