Smart Contract Platform Agoric Launches Public Chain

Agoric hopes to attract JavaScript developers to DeFi apps with a development environment providing reusable governance, lending and trading components.

AccessTimeIconNov 11, 2021 at 2:00 p.m. UTC
Updated May 11, 2023 at 4:08 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Agoric, a JavaScript-native smart contract platform, announced the launch of its public chain, which comes a month after the company completed a $32 million private token sale.

Agoric says its proof-of-stake chain with JavaScript smart contracts offers developers a secure and reliable cross-chain ecosystem for building and deploying decentralized finance (DeFi) applications. The development environment provides reusable governance, lending and trading components.

  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • The first phase of Agoric’s launch introduces the BLD (build) staking token and the Agoric chain built using the Cosmos software development kit (SDK). BLD supports staking, governance and decentralization. The token is backed by Kepir, a browser extension wallet for the inter-blockchain ecosystem, which will also provide governance and staking services for the Agoric blockchain.

    “Today, the DeFi development environment is failing to reach its full potential. By bringing DeFi to the overlooked JavaScript community, Agoric is blasting open the DeFi economy to over 10 million innovative and curious developers, enterprises and institutions to create the dapps of tomorrow,” said Agoric co-founder and CEO Dean Tribble in the press release.

    Tribble previously worked as a principal architect at Microsoft. Agoric Chief Scientist Mark Miller was a Google research scientist and wrote Agoric Open Systems Papers back in 1988. The papers provided an early outline of software creating and participating in markets.

    Token sale

    The private token sale saw participation from early investors including MetaStable, Polychain, Rockaway and Gumi Ventures. Additional backers included Placeholder, DAO Maker and Figment, among others. The sale will help fuel Agoric’s next stage of growth, including scaling the ecosystem and developer programs, the company said.

    “Smart contracts on open data layers create the foundation for a system reboot of finance, technology and digital life. Led by a team of esteemed pioneers in smart contract technology, Agoric is building a protocol that will bring the JavaScript developer community – the world’s largest developer community – into the fold of the metaverse movement,” said Placeholder co-founder and Partner Chris Burniske in the release.

    Phased rollout

    Agoric’s public mainnet went live on Nov. 1, kicking off the multipart mainnet rollout. Phase 0 involves governance setup and building out the community of BLD token holders. Phase 1 will include launching the JavaScript platform and the RUN protocol and token, a local stablecoin pegged to the U.S. dollar. Tribble told CoinDesk that Phase 1 is expected to roll out at the end of the year or early 2022.

    Phase 3 will follow and add permissionless smart contracts where any developer can deploy onto the Agoric public chain without preapproval.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about