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You are at:Home ยป Inter Protocol Launches Vaults: Mint IST with ATOM for Liquidity Generation in the Cosmos Ecosystem
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Inter Protocol Launches Vaults: Mint IST with ATOM for Liquidity Generation in the Cosmos Ecosystem

Vaults empowers crypto asset holders in the $6 billion Cosmos ecosystem, contributing to the Agoric economy.
Arun ShakyawarBy Arun ShakyawarJune 29, 2023Updated:June 29, 2023No Comments2 Mins Read
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Inter Protocol Launches Vaults Mint IST with ATOM for Liquidity Generation in the Cosmos Ecosystem
Dean Tribble, CEO of Agoric OpCo
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Inter Protocol, operating on the Agoric chain, has launched Vaults, a new offering that allows participants to mint the Inter Stable Token (IST) with ATOM.

Vaults provides an opportunity for users to generate liquidity without losing their position in the underlying asset, empowering crypto asset holders to leverage their existing collateral. ATOM deposited in Vaults serves as collateral for the IST and can be reclaimed by remitting the minted IST.

The Vaults system is backed by a suite of Agoric JavaScript smart contracts and new platform features introduced through the Mainnet-1B upgrade.

Dean Tribble, CEO of Agoric OpCo, highlights that Vaults offer an alternative means of minting stable tokens, distinguishing decentralized tokens from fiat-backed equivalents. The system enables crypto collateral holders to leverage their assets and meet their demand for IST, thereby contributing to the Agoric economy through fees.

Vaults incorporates an Economic Committee elected by the community, responsible for maintaining price stability of the IST. The committee monitors and adjusts minting limits, stability fees, and collateralization ratios, ensuring parity with the U.S. dollar even during periods of extreme market volatility. This feature enhances the scalability of IST and builds upon the foundations established with the Economic Committee and Parity Stability Module (PSM) operations.

Zaki Manian, Director of the Decentralized Cooperation Foundation (DCF), acknowledges the improvements brought by Vaults to Inter Protocol. The liquidation system and price oracle, along with the Economic Committee and PSM operations, further enhance the scalability of IST.

Vaults follows the introduction of Inter Protocol’s first application, the Parity Stability Module, which allows users to mint IST in exchange for approved stablecoins at a 1-to-1 ratio.

Read Also: Visa Advancing Its Cryptocurrency And NFT Capabilities To Build The Next Generation Payment Network

Cosmos (ATOM) Inter Protocol Web 3.0
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Arun Shakyawar
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Arun Shakyawar is a Tech writer based out of Los Angeles. He holds an Engineering degree in Electronics and communications, and an MBA in marketing. He specializes in TMT. Before writing full-time, Arun worked as a management consultant with leading consulting firms. As a consultant he developed interest in blockchain technology, and now actively tracks blockchain and digital asset markets. Arun can be reached at arun@alexablockchain.com.

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