Inter Stable Token (IST)

Inter Stable Token, with the ticker IST, is an over-collateralized, cryptocurrency-backed stable token designed for use across the interchain ecosystem. It aims to maintain parity with the US dollar (USD) to ensure broad accessibility. Users can initially mint IST by bridging DAI, USDC, and USDT using the Parity Stability Module (PSM). Additionally, the upcoming Vaults feature, set to launch in Q2, will allow users to mint IST by locking up collateral such as ATOM. IST is built on Agoric and will be the native fee token once enabled. The protocol is governed by BLD stakers, who have the power to vote on key governance proposals.

Inter Stable Token’s Vaults feature, scheduled for release in Q2, introduces a new minting mechanism that enables users to lock up assets like ATOM to mint IST. The protocol also incorporates a liquidation model, using a Dutch auction format, to ensure the safety and integrity of Vaults. Furthermore, Inter Protocol receives price feeds from a decentralized oracle network led by Simply Staking and other experienced oracle node operators in the Cosmos community. The Reserve, a central entity within the protocol, manages additional over-collateralizing assets and provides accounting functions. The protocol also offers funded bounties for community developers working on IST tools and infrastructure.

Focusing on economic protections, Inter Stable Token is designed to be fully collateralized, with plans to become over-collateralized through the Vaults mechanism. This approach factors in the volatility of crypto assets and provides strong backing for each IST token. The protocol is governed by an Economic Committee consisting of experts delegated by BLD holders, ensuring comprehensive management of the technical-economic parameters of IST. BLD stakers have the power to vote on governance proposals, making the community an integral part of the decision-making process.