Inter Protocol System Overview
The Inter Stable Token (IST) is an evolving, fully collateralized, cryptocurrency-backed decentralized stable token for the interchain ecosystem on the Agoric chain. The Inter Protocol, which mints IST, will grow to encompass a variety of minting mechanisms controlled with granular minting limits that creates a dynamic stable token model which has never existed before.
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 comprises the set of contracts, deployed on the Agoric blockchain, which manage the minting, burning, stability mechanisms, and governance of IST. See an example diagram of expected core contracts and their relationships below. This model will evolve with Inter Protocol based on the desires of the BLD community.
Inter Protocol contract flow diagram
This section will approach the Inter Protocol from a system perspective, and the following pages will go into detail about various aspects of the protocol including:
- 1.How IST is governed
- 2.How IST maintains its stability
- 3.How each contract operates, with links to the code
Welcome to the Inter Protocol!