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Incprinter Review 2026: Liquity Fork Minting INCD on PulseChain

Incprinter is a Liquity V1 fork on PulseChain that lets users borrow the INCD stablecoin against INC collateral. It is small and unaudited, so it suits experienced DeFi users who accept that risk.

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By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

5.2/10

Mixed

Visit Incprinter

Our verdict on Incprinter

5.2/10

Incprinter suits experienced PulseChain users who hold INC and want to borrow INCD without selling. Its main strength is the proven Liquity V1 design. The main caveats are single-asset collateral, no listed audits, small TVL and little published information on the team and fees. Treat it as a high-risk position and size it accordingly.

Score breakdown

How Incprinter scores

Security: 4.0/10
Ease of use: 6.0/10
Fees: n/a
Features: 5.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Incprinter?

Incprinter is a decentralized borrowing protocol on PulseChain. It is a full fork of Liquity V1 that uses the INC token as collateral to mint INCD, a stablecoin. PRINT serves as the staking token.

DefiLlama has tracked it since July 2025 and shows about $326,000 in total value locked, up around 9% over seven days. No audits are listed, and the homepage gives little detail beyond a short description.

It is a niche product aimed at INC holders who want liquidity without selling their tokens.

How Incprinter works

Incprinter copies the Liquity V1 design. A user opens a position, deposits INC as collateral and mints INCD against it. The position must stay above a minimum collateral ratio, otherwise it can be liquidated.

In Liquity-style systems, liquidations are handled by a stability pool and by redemptions, which help keep the stablecoin near its target value. Incprinter says PRINT is the staking token, but its exact reward mechanics are not described.

The key difference from the original is the collateral. Liquity uses ETH, while Incprinter uses INC, so the health of the system depends on INC's price and liquidity on PulseChain.

6 features

Key features

INC-backed borrowing

Users deposit INC into a position and mint INCD against it, following the Liquity V1 model.

INCD stablecoin

INCD is a decentralized stablecoin issued by the protocol and backed by locked INC collateral.

PRINT staking token

PRINT is the protocol's staking token, tied to the staking side of the system.

Liquity V1 fork

The project describes itself as a full Liquity fork, so it follows a well-known borrowing design.

PulseChain deployment

The protocol runs on PulseChain, chain ID 369.

Wallet-based access

The protocol is non-custodial, so users interact from their own wallets, including hardware-backed options.

Pros and cons

What we like

Based on Liquity V1, a well-known borrowing design
Lets INC holders access stablecoin liquidity without selling
Non-custodial, with positions managed from the user's own wallet
Has its own staking token, PRINT, which gives holders a role in the protocol
TVL has been tracked publicly since mid-2025

Watch out for

Collateral is limited to a single token, INC, so the system carries concentrated price risk
No audits are listed for the protocol
TVL is small, at roughly $326,000, which can mean thin liquidity for the stablecoin
Runs only on PulseChain, so users depend on that chain's ecosystem and bridges
Team, governance and fee details are not published on the homepage
As a Liquity V1 fork, it inherits that design's limits, such as no interest-rate market and a fixed minimum collateral ratio

Incprinter fees

Fee levels are not published on the homepage. Liquity V1 forks usually charge a one-time borrowing fee when INCD is minted, and no ongoing interest, but Incprinter's exact parameters are not confirmed here.

Users should check the borrowing fee, redemption fee and minimum collateral ratio in the app before opening a position. PulseChain network gas costs apply on top.

Is Incprinter safe?

DefiLlama lists no audits for Incprinter. The protocol reuses the Liquity V1 codebase, which has a long track record, but the changes made for INC collateral and any custom parameters are not independently reviewed.

The main risks are smart-contract bugs, a sharp fall in INC's price causing liquidations, and weak liquidity for INCD. The team and any admin controls are not named on the homepage. Only use funds you can afford to lose.

6 steps

How to get started with Incprinter

1
Set up a wallet that supports PulseChain (chain ID 369) and add the network.
2
Acquire INC and some PLS for gas fees.
3
Open the Incprinter app and connect the wallet.
4
Check the borrowing fee, minimum collateral ratio and current INC price.
5
Deposit INC and mint INCD, keeping a healthy buffer above the liquidation threshold.
6
Monitor the position regularly, and repay INCD to reclaim collateral when you want to close.

Open Incprinter

Who Incprinter is for

Incprinter is for INC holders on PulseChain who are comfortable with CDP mechanics, liquidation risk and unaudited forks. It is not suited to beginners or to anyone looking for a low-risk stablecoin.

Incprinter FAQs

What is Incprinter?

Incprinter is a decentralized borrowing protocol on PulseChain. It is a fork of Liquity V1 in which users lock INC as collateral and mint INCD, a stablecoin.

What collateral does Incprinter accept?

INC is the only collateral. Users deposit it into a position and can mint INCD against it, as long as the position stays above the required collateral ratio.

What is the PRINT token for?

PRINT is the staking token of the protocol. The project does not describe its exact reward mechanics, so check the protocol's own documentation before staking.

Is Incprinter audited?

DefiLlama lists no audits for Incprinter. Forking audited code such as Liquity V1 reduces some risk, but changes in the fork and the INC collateral are not covered by that audit history.

Which blockchain does Incprinter use?

The protocol runs on PulseChain, chain ID 369. You need a compatible wallet connected to that network, and public reporting mentions OneKey as one supported option.

Can I lose my collateral?

Not necessarily. Liquity-style systems liquidate positions that fall below the minimum collateral ratio, so a drop in the price of INC can cost a borrower their collateral.

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