Thread by @CosmosClub_

Agoric's $BLD token is coming to Huobi (@huobiglobal) 🙏

In addition, Agoric (@agoric) is planning to roll out a stablecoin $IST.

What's all the fuzz about?

A 🧵👇

Agoric is a Proof-of-Stake chain utilizing secure #javascript smart contracts to rapidly build and deploy DeFi.

Agoric believes that bringing the world economy online requires making it easy for the world’s programmers to develop smart contracts.

The key to make it easy for developers to build smart contracts is to enable development in the programming language they already know.

There are already thousands if not millions of #javascript developers.

Hence, Agoric is a smart contract platform for JavaScript developers.

Agoric's native token is $BLD.

$BLD is a staking token supporting economic activity within the Agoric ecosystem, and in return ensuring the network security.

$BLD and $IST will have a similar relationship as $LUNA and $UST.

The idea behind $IST was born at #Cosmoverse by @DeanTribble and @zmanian as a stablecoin by the community, for the community.

$IST is a protocol-native stablecoin & overcollateralized (similar to $DAI / @MakerDAO) built on Agoric.

https://twitter.com/CosmoverseHQ/status/1548665125321703425

$IST is soft-pegged to USD, formerly known as $RUN.

$IST is over-collateralized by assets like $ATOM, $ETH, or $USDC, as determined by the community through governance.

The stablecoin is well positioned to fill the void left by $UST, but also risk facing the same destiny.

Despite these fears, $IST has interesting features:

1) $IST is minted by depositing $ATOM, $ETH or others

2) $BLD stakers can borrow $IST against future rewards and/or self-repaying loans.

3) $IST is the fee token of the Agoric ecosystem & value flows back to $BLD stakers.

Agoric is basically betting on $IST adoption by building an interchain native stablecoin + attracting JavaScript developers to build using $BLD.

IBC channels are starting to open, enabling $IST to flow into the Cosmos ecosystem and become the stablecoin of the Interchain. 🚀

For more info on $IST, @inter_protocol and @agoric, check out the article from @01node below:

01node.com/ist-the-new-co…

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