Inter Protocol, an application operating on the Agoric chain, has officially announced the launch of their latest offering, Vaults. Powered by a suite of Agoric JavaScript smart contracts and new platform features as part of the Mainnet-1B upgrade, Vaults enables participants to mint the Inter Stable Token (IST) with ATOM. This opens new opportunities for users to participate in the flourishing $6B+ Cosmos ecosystem.
Empowering crypto asset holders to leverage their existing collateral, Vaults offers a new method to generate liquidity without losing their position in the underlying asset. Dean Tribble, CEO of Agoric OpCo, said, “Vaults offer an alternative means to mint stable tokens, setting decentralized tokens apart from their fiat-backed equivalents. A fully functioning Vault system allows crypto collateral holders to leverage their assets and fulfill their demand for IST, which in turn contributes to the Agoric economy through fees.”
The ATOM deposited is held as collateral fo
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