Listed on our website recently, The Agoric BLD token IDO had started on December 29th. We were fascinated by the project’s idea, so we decided to start our own research of the services it provides.
What is Agoric?
RUN - the foundation
RUN is a stable coin pegged to the US dollar, that enables the RUN protocol. RUN protocol is used as a base for the safe-purchase Zoe feature. It consists of three protocols:
- GetRUN / IBC - GetRUN lets you convert the BLD you buy into RUN (We’ll get back to what is BLD later), IBC (Inter Blockchain Communication) protocol allows you to convert other cryptocurrencies into RUN. We’ll talk about how does the price of other cryptocurrencies forms when converted into RUN forms later.
- Vault - the place where all the RUN is stored.
- AMM - Automated Market Maker uses liquidity pools to automatically trade cryptocurrencies and have refunds if some deal goes wrong or the smart contact is buggy.
So, you buy RUN with GetRUN or IBC then it is stored in the Vault, ready to be used when executing trades with AMM as a currency, supporting liquidi pools.
But what is BLD?
BLD is a governance coin - the one is trading on the IDO. Notice that you can only buy BLD, and RUN can only be converted with GetRUN or IBC.
The main features of BLD are:
- The ability to vote for the price of cryptocurrencies, being converted into RUN before they go into the Vault.
- The ability to stake BLD by converting it into RUN and getting royalties from AMM operations that use the RUN from the Vault.
Those two coins with the protocols given above allow users: to buy and sell crypto, to have the crypto refunded, or to earn money by staking BLD.
Why do I use Agoric if I’m a developer?
- ERTP - equalizes all the assets created by developers to make trading with Zoe possible.
- CapTP - adapts your code to work on a set of chains and devices once and for all.
- IBC - a protocol we are already familiar with, unites different blockchains.
The article is coming to an end. On top of that, we would like to say that Agoric is truly a breath of fresh air that introduces two incredibly useful features for both the developers and the users with its Zoe protocol. No surprise that the investors are getting mad about the project and can’t wait for the launch.