Agoric's BLD Token and the Upcoming IST Stablecoin Integration on Huobi
In an exciting development for cryptocurrency enthusiasts, Agoric's native token, BLD, is making its way to Huobi , accompanied by the forthcoming introduction of the stablecoin IST.
Drawing parallels with the successful pairing of LUNA and UST, Agoric introduces IST, a protocol-native stablecoin, which is overcollateralized, similar to the well-known DAI by MakerDAO. IST is pegged to the USD and is backed by assets like ATOM, ETH, or USDC, determined by community governance.
Despite concerns about the stability of stablecoins, IST presents a compelling case for adoption with its unique features. IST can be minted by depositing assets like ATOM, ETH, and others. Αt the same time, BLD stakers can borrow IST against future rewards and even opt for self-repaying loans. IST takes the role of the fee token within the Agoric ecosystem, channeling value back to BLD stakers.
As the crypto community eagerly anticipates the arrival of BLD on Huobi and the rollout of IST, Agoric's journey exemplifies how innovative blockchain projects can create a transformative impact on DeFi by embracing familiar programming languages and building a robust ecosystem. The integration of IST into the crypto landscape holds the promise of bringing stability and utility to decentralized finance, while also expanding opportunities for blockchain developers worldwide.
Thanks for reading Coin Club! Subscribe for free to receive new posts and support my work.