Inter Protocol is a community organized, decentralized application launching on the Agoric chain that implements the Inter Stable Token (IST). IST is a fully collateralized, cryptocurrency-backed decentralized stable token for the interchain ecosystem on the Agoric chain. IST is designed to maintain parity with the US dollar (USD) for broad accessibility and provide Agoric and the interchain ecosystem users an asset with minimum price volatility. In addition, IST is the native fee token for the Agoric platform and provides some of the core functionality and stability for the Agoric cryptoeconomy.
The Inter Protocol MVP consists of the Parity Stability Module (PSM) along with supporting contracts for governance and smart wallets. The PSM is the initial mechanism to mint IST so that we can bring it to the interchain ecosystem via Inter-Blockchain Protocol (IBC). The PSM contract supports multiple instantiations. Each PSM contract trades IST for a single external stable token and vice versa. The proposed tokens / contracts are:
- USDC_axl: USDC via Axelar
- USDC_grv: USDC via Gravity Bridge
- USDT_axl: USDT via Axelar
- USDT_grv: USDT via Gravity Bridge
The Zoe framework is based on the Electronic Rights Transfer Protocol (ERTP), which provides a standard way to create and exchange fungible and nonfungible digital assets, making it easy to create complex digital assets that are immediately tradable and composable. This upgrade includes an x/vbank Cosmos SDK module to reflect BLD, IST, and interchain assets as ERTP assets, as well as a smart wallet contract to execute Cosmos transactions containing Zoe offers.
The Inter Protocol MVP is the first step in releasing the full mainnet phase 1 Inter Protocol, and out of an abundance of caution the full protocol will be released in stages and exercised between releases. We anticipate that future releases will enable the Automated Market Maker (AMM), Reserve, Vaults & liquidation and BLD Boost. See the Inter Protocol white paper for detailed descriptions at https://inter.trade/whitepaper.
References / Resources
Source code: agoric-sdk release pismoA *
pismoA-rc3 * ef8aa3c
Main net IBC denoms:
For more detail, on these, see IBC details for USDC, USDT on Axelar, Gravity
See Inter Protocol MVP Contract Governance - Governance - Agoric Community Forum for capabilities delegated to the Economic Committee