JitaBank.com has created the Intergalactic Credit (IGC) a backed currency disconnected from CCP servers. IGC is backed by ISK through the minting process where the mint charges a deposit in exchange for IGC. This creates an inherent value of at least 1 ISK per IGC. The price the mint charges per IGC is algorthmic in nature and increases after every mint creating scarcity and value by charging an ever increasing price. As it only costs the mint 1 ISK to create new IGC, the mint can forever afford to purchase back all IGC in existence at the price of 1 ISK giving the value of IGC a floor value of at least 1 ISK.
IGC may also be purchased at the ISK/IGC liquidity pool. The price of IGC in the liquidity pool is governed by an algorithm that assumes the total amount of IGC in the liquidity pool is equal in value to the total amount of ISK in the liquidity pool.
Market forces and supply and demand will at times create arbitrage opportunites for users of this website. At times, the cheapest option to aquire IGC will be to mint new IGC, increasing its supply, but raising its cost to mint indefinitely. At other times, the cheapest option to aquire IGC will be to purchase IGC from the liquidity pool. Driving the price in the liquidity pool higher and increasing the value of the currency.
By disconnecting value from CCP servers we can create the "PayPal" of New Eden. We can support features such as loans, automatic payments, investment opportunities, automatic escrow services, bounty contracts, mercenary contracts, and much more.
Current Cost to Mint new IGC
Total ISK Deposited into JitaBank.com
Total IGC Minted