Inter Stable Token

Inter Stable Token (IST) is a cryptocurrency. It functions as an overcollateralized, crypto-backed stable token engineered to hold a 1:1 peg to the US dollar across the Cosmos interchain.

The asset serves as the native fee token on the Agoric blockchain, a Cosmos-based network. IST fills a persistent gap—a fully decentralized, fiat-independent medium of exchange that doesn’t rely on bank deposits or centralized issuers. Its stability mechanism uses overcollateralized vaults, allowing any user to deposit volatile crypto assets and mint new IST, which then flows into DeFi applications on Osmosis, Archway, and Secret.

Inter Stable Token operates on the Agoric blockchain. The protocol’s smart contracts are deployed as a decentralized application on that chain, minting IST exclusively through collateralized debt positions. Because Agoric supports the Inter-Blockchain Communication protocol, IST can travel frictionlessly to Osmosis, Archway, and Secret for use in liquidity pools, lending markets, and payments.

The system is built with Hardened JavaScript smart contracts running inside the Zoe framework, which enforces offer safety through the Electronic Rights Transfer Protocol (ERTP). Any transfer of IST or collateral is atomic: either the entire transaction settles correctly or all assets revert to their original owners, eliminating the risk of partial execution or double-spend. This formal model underpins the token’s integrity across multiple chains without requiring a bridge operator.

The Inter Protocol emerged as a community-led effort on the Agoric chain. Its whitepaper lays out a design where any Cosmos asset, including staked ATOM or OSMO, can be locked in a vault to mint IST. From the outset, the token was positioned as the native gas unit for the Agoric platform, a role that ties its utility directly to the throughput of smart contracts. No founding team is named; instead, the protocol is governed by its users through on-chain votes.

The project’s long-term ambition is to furnish the interchain economy with a stable unit of account that does not depend on fiat custodians or traditional banking rails. A censorship-resistant dollar peg allows DeFi protocols across sovereign chains to price assets, settle debt, and quote fees without introducing counterparty risk. By decoupling stability from centralized reserve management, IST shifts the trust model to overcollateralization and transparent code.

Mechanically, IST acts as the sole fee token for executing transactions on the Agoric network. Whenever a user deploys a smart contract or moves funds, they spend IST in gas fees, which are then distributed to validators. Vault operators must also pay a stability fee in IST when closing their positions, creating a demand sink that aligns with the token’s peg maintenance. Unlike governance tokens, IST does not confer voting rights; its role is purely functional—a lubricant for on-chain activity and a settlement medium.

Validators on Agoric receive IST through fee collection, though they stake the native chain asset for consensus. Liquidity providers on Osmosis pair IST with other stablecoins or volatile assets to capture trading fees, leaning on its low volatility to simplify impermanent loss calculations. Arbitrageurs scan the price of IST across pools, buying below $1 and selling above, thereby reinforcing the peg through market-driven corrections. Holders can also deposit IST in vaults or lending protocols to earn yield while staying insulated from crypto volatility.

Inter Stable Token has a maximum supply of 5,000,000 tokens. Currently, 1,405,609.52 tokens are in circulation. The token last traded at $0.990898. With a market capitalization of $1,401,384, Inter Stable Token ranks #2,655 among all cryptocurrencies.