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  • Inter Protocol User & System Docs
  • User How-to
    • Wallet Usage
      • Acquiring BLD Tokens
        • How to Deposit Assets to Osmosis
        • How to swap for BLD tokens from Osmosis and transfer to Agoric
        • How to swap for BLD on Crescent
        • Buying BLD from Huobi
      • Create your Agoric Account and Smart Wallet
      • Keplr Overview
    • Bridge External Tokens to Agoric
      • Bridge DAI, USDC or USDT to Agoric via Axelar Bridge
      • Bridge DAI, USDC or USDT to Agoric via Gravity Bridge
    • Minting IST
      • Minting IST - Vaults
        • Create a Vault
        • Adjust Vault
        • Close Vault
        • Depositing Assets to Agoric Chain (to use as Vaults collateral)
      • Minting IST - PSM
    • Bidding for Liquidated Collateral
    • IST Usage and Beyond
      • Deposit IST to Osmosis
      • Deposit IST to Crescent
      • Earn BLD by adding liquidity to IST/OSMO pool on Osmosis
      • Earn BLD + CRE rewards by adding liquidity to IST pools on Crescent
    • Supported Browsers
  • Inter Protocol System Documentation
    • Inter Protocol System Overview
    • Protocol & Chain Governance
    • Vaults
    • Liquidation
    • Liquidation Auction
    • Parity Stability Module
      • Supported Assets
    • BLD - Agoric's Governance Token
    • Fees
  • Frequently Asked Questions (FAQ)
  • DISCLAIMER
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  1. Inter Protocol System Documentation

Parity Stability Module

IST will be a stable token controlled by smart contracts on the Agoric blockchain but used primarily in decentralized finance applications on external chains.

In this initial launch, IST will be minted only by the Parity Stability Module (PSM) contract, which may have multiple instantiations. Each PSM is willing to trade IST for a single external stable token and vice versa. These external stable tokens are chosen by governance in the form of a vote of all BLD holders. Governance may elect to only allow one external stable token, in which case only one PSM will be instantiated.

The Parity Stability Module has two primary functions:

  1. wantMinted - user gives PSM the accepted external stable token; PSM mints IST and gives it to the user

  2. giveMinted - user gives IST back to the PSM, which is burned; PSM returns the external stable token

Once the user has received IST, he or she will transfer it to an external chain over the Inter Blockchain Communication (IBC) protocol.

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Last updated 2 years ago