Agoric partners with Shadeswap

Published on: 21.04.2023
Agoric partners with Shadeswap

Agoric partners with Shadeswap an array of decentralized privacy-preserving applications that people can use for a range of financial purposes. 

Agoric is a protocol devoted to empowering and securing DeFi via Javascript smart contracts. One of the first DeFi protocols ever built on Agoric is the Inter Protocol – a fully collateralized stable token platform that uses crypto collateral to mint out IST – “Inter Stable Token”, a USD-pegged stable token. IST will also be coming to ShadeSwap!

With this partnership, users will have the opportunity to liquidity farm both SHD + BLD incentives. 

Incentives go live April 19th, 2023. Incentivized pairs are as follows:

  • SILK/IST
  • SHD/BLD

Due to the power of ShadeSwap routing, over 22+ assets will have access to swapping for IST – “Inter Stable Token” and BLD. It is important to note that SILK/IST is a StableSwap pair with efficient trading due to concentrated liquidity.

Agoric – Deploying Secure DeFi In Javascript

Agoric is a smart contract platform built on the Cosmos SDK and with Tendermint Proof-of-Stake (PoS) mechanism and a native asset to secure the network. In a nutshell, the Agoric chain enables developers to create decentralized applications using assemblage JavaScript smart contracts. Furthermore, it contains built-in decentralized finance (DeFi) building blocks, allowing Agoric to support a second local currency for facilitating economic activity and maintaining a healthy ecosystem.

Agoric has two key tokens:

  • BLD (governance token of Agoric)
  • IST – “Inter Stable Token” (flagship stable token of the Agoric economy)

With 12,000,000+ Javascript developers globally, Agoric plans to open the gateways to mass developer adoption. Ushering a new era of rapid DeFi development using a universally accepted and appreciated coding language.

Agoric is developing a secure distributed object-capabilities (OCap) platform for smart contracts and market-oriented programming. The platform supports the development of smart contracts and market institutions across many different scales, from large public blockchains to small two-party contracts.

The OCaps platform consists of the following:

  • A robust architecture for building secure smart contracts.
  • A foundation in JavaScript for maximum reach.
  • A cryptographic routing fabric for inter-chain interoperability.
  • A library of market abstractions and a framework for securely composing them.
  • A framework for secure user interaction.

IST – The Inter Stable Token

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 USD for broad accessibility. It provides 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 crypto economy.

IST achieves its stability with three different market-based arbitrage mechanisms that work together to maintain parity with the USD. These three concurrent mechanisms use different assets, work at different speeds, and track from a wide to a narrow band of parity to maximize the opportunities for arbitrage to bring IST back to parity in the case of a divergence from USD.

ABOUT Shade Protocol

Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. This interconnected privacy preserving DeFi products built on Secret Network will change DeFi as it knows it. Empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving over-collateralized stablecoin pegged to a basket of global currencies and commodities, built on Secret Network.

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