Agoric Smart Contracts
In the initial stage, Agoric launches its first Testnet in 2019 which got popular with the name AgoricTestnet. Later on, they released a software named Alpha in October 2020. This Alpha release discovered operational smart contracts for the developers to go with De-Fi building blocks such as fungible and non-fungible tokens, the atomic service, an automated market maker, and an order book.
Well, this is the smart contract framework that is delivering existing technologies while ensuring a stable and secure infrastructure. It is also the first step of Agoric to bring the ecosystem of sophisticated components to build De-Fi apps. Just in the next month in November 2020, Agoric launched Chainlink Integration, which allows the decentralized apps to access reliable market data to trigger their execution and enhance real-world value between users.
You should know that Agoric Beta is the second software update, which introduces the foundational elements. Now developers can build and deploy smart contracts that incorporate test versions of BLD and IST tokens. Well, you might be wondering what BLD and IST are, so let me clarify that these are the economic assets of Agoric. Let us have depth information on these terms.
Agoric Economy Assets
At present, Agoric has two digital assets, one is a BLD token and the other is IST (stablecoin) issued by Inter protocol. BLD token has the role to make the network secure and governance, it also has the responsibility of stability. While IST is the local currency of this network that helps to pay for goods, services, and other execution fees.
IST remains quite helpful to make payments, as the mechanism is efficient and strong. Moreover, it also helps in gluing decentralized apps altogether in the Beta Testnet. Here, users can bring in IST as collateral and can also mint it to pay the loan. Thereafter, use IST to pay for goods, services, and transaction fees. IST is the only way to obtain assets on this network.
Do you know how to stake BLD on Kelpr, if not, then just go with this guide.
Best Agoric Wallets | Top BLD Wallet
Kelpr is one of the most secure wallets available but you need to make sure not to share speed phrases with anyone. Although it is a non-custodial platform where no central authority is handling your funds, you need to show some responsibility.
Kelpr is a popular wallet, which ends up the requirement of any other wallet in the Cosmos ecosystem. As it is a non-custodial wallet, which gives you complete control of cryptocurrencies. Here, users can also take part in airdrops and can stake rewards from different projects. Apart from all these things, Kelpr is also compatible with hardware wallets such as Ledger Nano X for an efficient security system.
Stake BLD on Kelpr:
# Install Wallet Extension: First, you need to install Wallet Extension, if you have not downloaded the wallet app then just click on the link and go through it. A pop-up will appear when you click on the link, it will take you to the Chrome Extension store. Now just tap on Add to Chrome and open Kelpr Web Page on your screen.
# Create your Account: Now you need to create a new account but if you have already an account then you can go with the Import Existing Account option. But if you are a new user then you have to feed seed phrases and some other basic information as per asked on that page. Once all the information feeding is done, now just tap on the Register button and proceed further.
# Start Staking: Now just open the dashboard and tap on the Menu option to proceed. Then just go with the Agoric option and tap on the Stake option. Here, you have to choose a validator at your convenience and then tap on Manage.
Now, a pop-up will appear where you have to tap on the Delegate option. Then just fill in the BLD amount that you want to stake and again tap on the Delegate option. Once done, now just set the fee and double-check all the information, then tap on Approve and it is done.
Recommended article: Best Staking Wallets
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Agoric web wallet is a simple web-based application that allows users to store their BLD coins.