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Agoric’s Composable Smart Contract Framework Reaches Mainnet-1 Milestone

Mainnet fulfills Agoric’s longtime vision of a JS framework for smart contracts. Take a moment to think back to JS in the 1990s, what it was like to build a web app back then, and contrast that experience with what the internet has become today. Because of the rise of frameworks, and the associated libraries of components, relative beginners can build today what few experts could build back then. That ease — that composability — is at the heart of Agoric’s mainnet-1 release. 

Mainnet-1 provides a rich JavaScript stack for composable smart contracts. Using our library of contracts and contract components — options, loans, a variety of auctions, AMMs, and more — many novel contracts can be built by composing and parameterizing well-vetted components. The first enabled smart contract, the Parity Stability Module (PSM) of the Inter Protocol, creates and trades IST, the Cosmos-native Inter Stable Token. Contracts benefit from offer safety, provided by Zoe, our smart contract framework. Via Zoe, contracts trade fungible, semi-fungible, and non-fungible assets using ERTP, the Electronic Rights Transfer Protocol. Each contract runs in a vat, approximately a persistent process. Hardened JavaScript provides security within each vat. The SwingSet kernel provides security between vats, including protection from reentrancy attacks. We briefly explain these elements below.

What’s Ahead

Today marks the second major step in Agoric’s mainnet. Mainnet-1 follows mainnet-0, which happened on November 1, 2021.

On October 1, 2022, circulating supply was 43,670,064 BLD. Next week, on November 1, that number grows to 260,756,538 BLD. This week’s launch of Inter Protocol, along with the availability of IST, comes just in time to support this major liquidity moment on the network. (Keep up to date at agoric.com/economy.)

The tradeoff in Agoric’s phased mainnet releases is one between stability and leverage. Agoric maintains its focus on safety and on building strong, resilient architecture/mechanisms. You can always keep an eye on agoric.com/roadmap to see what’s ahead. 

Chainlink Oracle Integration

Agoric's integration with Chainlink oracles enables dApps to access reliable market data to trigger their contract’s execution and transfer real-world value between users.

Alpha Release

The Agoric alpha release introduced developers to an operational smart contract platform to build and deploy reusable DeFi legos including: 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.

The alpha release built on prior Agoric technologies while providing a stable development platform, and it was the first step in actualizing an ecosystem of sophisticated components to build dapps or DeFi markets.

Testnet Launch

Inter-chain communications protocol — a precursor protocol to the upcoming Inter-Blockchain Communications protocol (IBC), which Cosmos developers expect to launch in Q1 2021.

• Electronic Rights Transfer Protocol (ERTP) — a simple set of object APIs for expressing, transacting on, and transferring a great variety of digital rights​ among users and smart contracts.
• Digital assets created in JavaScript
• Cosmos-SDK Integration — access to Cosmos modules and features from JavaScript, such as the native ledger and staking architecture.