Aye. That’s definitely something we have been thinking about. Different orchestrations will have different ways they earn fees (e.g., txn fees vs. spread), so there isn’t yet a “one-size-fits-all” model.
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As currently tasked, yes. That governance structure is quite powerful, and we’ve very much appreciated their service. There are orchestration apps that may require an independent risk committee, so something like it may get recreated.
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It is also worth noting that since IST Vaults are fully backed, everyone’s assets are worth more than their debts. So if they need to, they can withdraw some collateral, and either sell it or leverage it elsewhere to get stable to pay down their debt (converting to IST through the PSM). As Bob notes, DCF appreciates the issue, and has a timeline and process to mitigate the pain as much as possible.
Everything is clear. Many of the early minters of IST might recall how it all began:
https://x.com/zmanian/status/1719681999453974628](/zmanian/status/1719681999453974628
Now, sunsetting IST will inevitably come with a “cost,” especially since ATOM and BLD have dropped significantly during this period. Of course, the risk is ours to bear, but it leaves a lingering feeling… that we’re not only being punished by the market but also by the very tools we’ve been trying to use.
Since I am firm believer of what the team is doing I hope Agoric’s activity and usage pick up so that we can see a positive shift in BLD sentiment. That will eventually cover all this necessary moves.
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@dtribble The project needs to come up with a solid plan. I do not care about current price of BLD but this will be a serious issue if the price is kept like this for a long term.
I suggest following Ethereum’s path after the DAO hack. We need new tokenomics for BLD as store of value and means of payment, website redesign, our own explorer and others.
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What is the reason shut down working product? Sell it to someone, who need mint stablecoins. It is very similar to Maker DAO, but with more functionality. And Agoric can make decision to use BLD for orchestration, exactly what they want. IST becomes independent project on Agoric chain, like Maker on Ethereum.
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If someone (some organization) wants to step up and assume the financial costs of keeping the protocol running, please encourage them to step forward. FYI, DCF has made efforts to find other supporters who can help with the costs and the effort, but those overtures came to naught, sadly.
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I share only idea. Implementation is not my business in this case. Also want to share my assumption.
I feel You don’t really want Inter Protocol continue work and I guess, that the reason is follow:
there is deal between Agoric and Circle. Agoric close down IST (Circle consider it as potential competitor).
Circle gives to Agoric huge USDC market and makes Agoric’s Fast USDC essential technology under the hood for all transfers between chains.
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You can make a proposal to Maker DaO and try to sell them Inter Protocol. They are early investors in Agoric and they have similar technology on Ethereum.
But, on my opinion, IST have advantages. It can be used at any IBC chain, not only on native and can use any Assets to mint stable token, not only ETH and ERC-20 like Maker.
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Looks like USDC is only one fully regulatory complaint stable coin and everything moving around USDC. It takes the stable coins market.
So, it is
obvious decision to close IST. Winner is USDC. Vivat king, vivat.
And discussion about advantages for BLD holders is just lyric. If IST becomes FAST USDC fee token, Inter Protocol will be profitable, no doubt and BLD holders will be rewarded. So the issue is not in IST- BLD role in Agoric’s economic model.
In current situation Agoric can fight for market share against USDC with it’s own product or stand with USDC.
But IST can be independent from Agoric product and can find it’s niche on the market.
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DAI is successful due to Ethereum’s current market share. But, still, DAI can’t compete against USDT or USDC. If Agoric had Ethereum’s current market share the story might have been different. But we have to admit that failure is failure and gotta move on. Change the tokenomics of BLD and revamp the whole thing. Period.
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No, the main reason why I bought BLD was that it is layer 1 crypto. There’s no reason for me to hold this if this become layer 2.
I don’t think you did your research on stablecoins btw. USDC is winning in world politics and that’s it. No room for IST anymore. Other stablecoins will slowly die at the same pace.
The only way to survive is to change the BLD tokenomics just like ETH. Store of value and means of payment. Compete directly to the first mover rather than pussy out from the competition.
I’ve been ETH’s crowdsale investor back in 2014 and been accumulating BLD since it’s inception. What do you mean I recognize it only right now? I didn’t have to tell them what to do so far. I have just created account on the agoric forum last week to support team’s restructuring and revamp on the tokenomics.
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Is it all what you can answer?
DCF has made efforts..
You have good product, but can’t make it profitable.
Problem in you, not in product.
Right management and marketing makes success.
Without it the best product in the world will fail.
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Thank you all for engaging here and sharing your thoughts and comments. We’ve posted today a discussion prefacing a Singalling Proposal to wind down Inter Protocol. Please join that discussion here Sunset Inter Protocol and Begin Wind-Down Process. A vote Signalling Proposal will occur at the conclusion of the discussion period.
While I can understand why you might feel that way, I would point out that this is a community product, not a DCF (nor Agoric) product. It is community owned and governed. But beyond that, please do consider that since IST was brought to market, some macro factors have changed and those things have impacted the viability of the project. Here, I mean the global (and recently dmoestic) economic factors, the arrival of USDC in Cosmos, and the shift in sentiment towards stables that earn yield. The demand, in contrast, for a no yield model that emphasizes decentralization, has not become dominant in the market. And, as a final note, please remember that DCF has supported Inter Protocol as a community good. Supporting a protocol is an expensive and time consuming venture, and that would be fine if we were seeing growing adoption and utility. In other words, that it actually was being used as a community good. Unfortunately, that is not how this has developed.
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“Hi everyone, first of all, I want to congratulate you all for the work accomplished, not only on Agoric but also on your previous projects.
I was thinking, it’s all about incentives. Certainly, some choices would require more work, but have we tried everything? One way to put BLD at the center of the ecosystem is to add it to the vaults, with a more attractive incentive than other vaults, lower the collateral ratio of existing vaults, and put BLD in the foreground.”
I think that in the not-so-distant future, decentralized stablecoins will make a strong comeback. This will give additional utility to a market focused on speculation and could even boost certain sectors like NFTs or RWAs… To stand out, we need to succeed where others have failed. IST offers unprecedented strategies and considerable opportunities for compounded investments, but not everyone understands how Inter Protocol works. A few videos and tutorials could help; I know this because I explained it to friends who had no idea what it was before.
Thank you for reading me. And thank you for allowing us to participate in building the future. Excuse my ignorance on certain subjects if I missed any details."
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You “think” that decentralized stablecoins will make comeback, yet the trend and politics say total opposite. Abandon IST, make BLD great again that is what the majority of BLD holders and market wants.
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Inter Protocol Community Call Happening this Wednesday
In view of the ongoing signaling discussion for the strategic sunsetting of Inter Protocol, we invite you to hear from: the DCF, Agoric’s Dean Tribble, and Joe Clark, member of Inter Protocol’s Economic Committee.
The community call will take place on Inter Protocol’s X on April 23rd, 2025, at 16:00 UTC | 9:00 PDT.
Set your reminders now 
https://x.com/i/spaces/1LyGBWDmlRoJN
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In an effort to help the community reach a consensus and make this process as open and transparent as possible, the DCF has published a blog post on the proposed sunsetting of Inter Protocol. Check it out to get the reasoning behind DCF’s recommendation.