Value: 1 INC (Indiya Coin) = 1 INR (Indian Rupees)

// What is INC?

Stablecoins are cryptocurrencies pegged to less volatile external assets like fiat currencies, precious metals or oil. The supply or value of a stablecoin can also be pegged to other crypto assets or be fixed by algorithms. Stablecoins retain the same worth as their underlying asset instead of going through dramatic price swings. The general idea of stablecoins is to sustain a steady value over a prolonged period.

Stablecoins play a crucial role in the crypto ecosystem. They enable more people to access the benefits of the blockchain without the risk of dramatic price swings. Besides, they provide firm ground for the traders, investors, vendors and other players who want to park their gains or assets. Fundamentally, backing the coin with less volatile traditional assets like USD or Gold makes it more stable, thus providing a safer alternative for all the players in the crypto ecosystem.

One of the most prominent examples of a stablecoin is Tether (USDT). Whenever USDT tokens are issued, an equivalent sum of USD gets deposited into an audited bank account. Tether also has a platform where users can deposit and withdraw actual USD. The circulating supply of the USDT tokens shrinks or grows based on the dollars held in the bank account. Tether has been the most trusted stablecoin since its launch in 2014.

At the same time, the situation has opened a window of opportunity for a new generation stablecoins that can hold themselves to a higher standard. INC Token is one of such projects.

INC has the following features:-

  1. Stable Value:- True financial interoperability requires a price stable means of value exchange. Fiat-backed stablecoins bring stability to crypto. For customers with Indian Rupee Bank Account, 1 INC can always be redeemed for INR 1.00, giving it a stable price.
  2. 100% Backed by Indian Rupee (INR):– Each TINR is backed by 1 INR, which is held in a bank account.