Overview
Agoric is a Proof-of-Stake chain that utilizes secure Javascript smart contracts to build and deploy DeFi applications.
- An enterprise-grade secure smart-contract platform built on the Cosmos SDK.
- Includes the Inter-chain Communications Protocol (IBC).
- BLD is the Agoric native token.
Agoric at a glance
As an open-source development company, Agoric offers developers a safe, reusable library of DeFi components to rapidly build and deploy on-chain. It employs a dual token model to secure, govern and transact on the network - BLD as the staking token, and RUN is its stable local currency.
The Agoric chain is built to…
- enable developers to create decentralized applications using assemblage JavaScript smart contracts i.e. build and deploy reusable DeFi building blocks like fungible and non-fungible tokens, an atomic swap service, covered calls, a simple exchange with an order book, and an automated market maker as an on-chain DEX.
- support a second local currency (RUN) that is pegged to USD via on-chain collateral for facilitating economic activity and maintaining a healthy ecosystem.
- be interoperable with dynamic IBC that enables the Agoric chain to leverage assets, collateral, and services from other chains.
Founded by Mark S. Miller, Dean Tribble, Bill Tulloh, and Brian Warner in 2018, mainnet was launched Nov 21, 2021.
Agoric, (BLD) token
The BLD staking token is Agoric’s native utility token with primary uses for:
- Governance to vote on important proposals put forth by anyone who holds enough BLD
- Staking to receive additional token issuance as rewards, as well as a share of the rewards generated by economic activity on the Agoric chain.
Related: What is a token and how is it used in crypto?
Proof-of-Stake (PoS) BLD staking
Validators such as ourselves at Stakewith.us (and builders behind Unagii) operate nodes responsible for securing Agoric’s operations with the BLD staking tokens that stabilizes the Agoric economy supporting staking, governance, and decentralization. Validating involves committing new blocks, maintaining reasonable uptime, and participating in governance, which in turn earns staking rewards via distributed BLD tokens as incentives. Delegators (or users of Unagii) can help participate and secure the network with their votes by delegating their stakes to us on the Unagii platform to receive a portion of the rewards that validators receive.
Staking BLD allows Unagii users to participate in the decentralized governance with voting power, and earn Agoric rewards. Rewards are paid out on a per block basis and users can choose to withdraw or compound accumulated rewards. During the bootstrap phase (days 1 - 935), 246,575 BLD tokens are emitted daily. Thereafter, BLD issuance declines linearly from 246,575 to 0 during days 934 - 1093, and no further BLD will be issued thereafter. BLD rewards are phased out as RUN rewards grow in value as the network matures. BLD stakers may choose to modify the issuance schedule as needed in the future.
Note that staking risks do apply, including slashing risks upon validator downtime and double-signing. There is also a 21 day unbonding period for users when unstaking BLD from the network. During this period, users will not be able to withdraw and earn rewards.
*Note that staking rewards are turned on when a governance proposal is passed by the community. The proposal has not yet been enabled (as of May 06, 2022).
Related: Staking coins: What is staking and how does it work?
How to stake BLD?
Staking BLD on Unagii is simple and convenient.
- Head to app.unagii.com/stake/agoric
- Connect your wallet
- Stake BLD
- Approve and confirm transaction (gas fee payable)
View more info: Stakewith.us validator details
