The Inter Stable Token (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

The Inter Protocol provides IST with its stable properties. Any user is able to permissionlessly deposit crypto collateral into their own vault. Users mint against their own collateral in their vault to secure their IST. The stability fee for minting is calculated on a daily basis. An additional upfront minting fee is charged when users mint IST. Fees are added to the debt to be paid by the user when they pay back the IST and withdraw their collateral. The fee revenue is shared between the Reserve Pool that supports the stability of the Inter Protocol and a Reward Pool that supports chain security by rewarding BLD stakers.