Question 1

What is BLD, and how does it relate to the Agoric network?

Accepted Answer

BLD is the native token of the Agoric network. Its core uses are staking and governance, and within its economic model it bears the costs of application execution and cross-chain orchestration. Agoric is a Cosmos-based Layer 1 chain that uses CometBFT consensus and natively supports IBC; its smart contracts can organize a cross-chain request, waiting for a result, and subsequent processing into a workflow spanning multiple blocks. Therefore, BLD's role is not limited to being a tradable asset: staking relates to network security and governance participation, while applications incur BLD-related execution and orchestration costs when executing contracts, sending cross-chain messages, or running long-lived workflows on the network. Official documentation also describes IST as the network fee-payment asset; specific fee arrangements are subject to the economic parameters and governance rules enabled at the time.

Question 2

How does Agoric's cross-chain orchestration affect who bears fees?

Accepted Answer

Agoric differs through “cross-chain orchestration”: a contract can initiate an operation on another chain, wait for its result, and then continue execution in later blocks based on that result, rather than treating cross-chain interaction as a single step. IBC provides the native foundation for cross-chain communication, while other connection methods can allow contracts to call corresponding external-chain services. This creates different cost stages, including local execution, cross-chain messages, and remote-chain gas. Applications can fund execution and orchestration in advance, with the system paying the gas required for remote operations; users generally pay only a small, predictable postage for submitting an action rather than separately preparing the gas asset of every target chain.

Question 3

What is the purpose of staking BLD, and where do returns come from?

Accepted Answer

The primary purpose of staking BLD is to participate in Agoric's security and governance, rather than to obtain fixed interest. After holders stake BLD, their economic outcomes depend on network rules, actual fee flows, and governance decisions; staking also exposes participants to risks such as token price, delegation choices, and changes in protocol rules. Under the current economic model, local fees charged for application execution and orchestration, as well as commissions on remote fees, may be distributed to validators and stakers or burned according to governance rules. In other words, potential staking returns are not unconditional promises; they depend on network use, fee policy, and the applicable distribution rules all being in place.

Question 4

How does BLD participate in governance, and what can governance affect?

Accepted Answer

BLD can be used for Agoric governance. Governance does not automatically allow every token-holding address to directly change the network: the specific eligibility to participate, voting process, and method of taking effect depend on the on-chain governance rules at the time, and staked or delegated BLD is a key basis for participation in that system. Governance is also important because it can affect economic parameters and the destination of fees. For example, the official economic description explicitly states that fees may flow to validators and stakers or be burned; orchestration commissions and fee pricing may also be adjusted by governance according to usage and network conditions. Therefore, voting outcomes may change the fees, incentives, and supply effects faced by BLD holders, but they do not guarantee a particular price outcome.

Question 5

How are BLD-related fees formed and distributed?

Accepted Answer

To understand BLD-related fee mechanisms, first distinguish three layers: postage for a user to submit an action, local execution and orchestration costs prepaid by an application, and remote gas generated by cross-chain operations. On the application side, a steward can manage its gas pool, while a purser aggregates fees and implements the relevant policy; fees are not simply paid chain by chain by each end user. Commissions may be charged on cross-chain remote fees and local execution fees; as set by governance, these funds may first be burned to offset issuance, or flow to stakers after the relevant policies are met. Fees may also be dynamically adjusted based on real-world units of account. Therefore, actual costs depend on the workflow invoked, remote operations, pricing parameters, and governance configuration at the time.

Question 6

What factors should be considered when assessing BLD supply and demand?

Accepted Answer

BLD supply and demand cannot be assessed by looking at one supply figure alone. On the supply side, protocol issuance, the amount staked, the circulating amount, and the effect on outstanding supply when fees are burned must be distinguished; these are not the same measure. On the demand side, the relevant question is whether applications actually consume corresponding resources for execution, cross-chain messages, and long-lived orchestration workflows. There is also no automatic price formula between the two: more orchestration activity may produce more fees and BLD use and, under established governance policies, affect burning or fee flows to stakers; but the effect remains subject to fee pricing, application adoption, liquidity, staking ratios, market trading, and governance adjustments. When reviewing data, the point in time and whether the measure is total supply, circulating supply, or staked amount should be specified.

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