After Proposal 55 passed, the Agoric community successfully added liquid staked ATOM as a collateral type for Inter Protocol Vaults! Liquid staking tokens like Stride’s stATOM are rapidly growing in popularity, and for good reason: holders don’t miss out on staking rewards but still have access to a liquid token.

IST for the Cosmos

Using one of the fastest growing assets in the Cosmos ecosystem to mint IST with Inter Protocol Vaults makes IST more accessible to a broader range of users who can now participate in network security and governance while using their stATOM tokens as collateral. 

Before this addition, users had to unstake their ATOM tokens to mint IST, which meant they had to forgo their staking rewards in order to access other services. Now, stATOM as collateral reduces the barriers to entry and participation in the stable token ecosystem. Users can keep their ATOM staked, continuing to earn rewards and contributing to the security of the network while getting the added benefits of accessing IST, a leading decentralized IBC-native stable token.

Collateral Damage Advantage

The community voted for and approved stATOM as collateral, highlighting the decentralized nature of the Agoric platform. This decision-making process and flexibility in adapting to user needs are indicative of a strong and dynamic ecosystem. And with this first additional collateral type successfully onboarded, the door is now wide open for more proposals – so get creative!

The addition of stATOM as collateral not only benefits Cosmos users but also contributes to the overall growth and vibrancy of the Cosmos and Agoric ecosystems. It demonstrates the adaptability and responsiveness of these ecosystems to evolving user needs and preferences, which is essential for their long-term success.

Holding stATOM? Mint IST with Inter Protocol.

Want to see your favorite token as collateral for Vaults? Start a discussion in the Community Forum.