What is Terra (@terra_money & $LUNA)? π π
Crypto money for users who don't care about crypto. In 5 tweets π§΅π
Crypto money for users who don't care about crypto. In 5 tweets π§΅π
Terra is an open and transparent monetary platform built on @cosmos in 2020.
It offers algorithmic #stablecoins & tools to provide users with all they need to manage their money. It's gaining a lot of adoption in Asia-Pacific.
TerraUSD ( $UST) is their biggest stablecoin.
It offers algorithmic #stablecoins & tools to provide users with all they need to manage their money. It's gaining a lot of adoption in Asia-Pacific.
TerraUSD ( $UST) is their biggest stablecoin.
Algorithmic stablecoins are different from centralized ones that hold the equivalent fiat money in reserve (USDT or USDC).
They use automatic mechanisms that maintain the price using arbitrageurs & a 2nd token. Terra uses $LUNA, the network token, to stabilize their stablecoins.
They use automatic mechanisms that maintain the price using arbitrageurs & a 2nd token. Terra uses $LUNA, the network token, to stabilize their stablecoins.
Terra tools:
CHAI payments gateway. It settles in UST & offers lower fees than traditional gateways. Users get some incentives too. It has +2 mn users in South Korea.
MIRROR allows decentralized investment in traditional assets, like stocks. It's big in Thailand.
CHAI payments gateway. It settles in UST & offers lower fees than traditional gateways. Users get some incentives too. It has +2 mn users in South Korea.
MIRROR allows decentralized investment in traditional assets, like stocks. It's big in Thailand.
ANCHOR is a savings and borrowing platform. It pays savers a fixed 20% per year.
They can pay so much because they do over-collateralized lending and then stake the collateral on major PoS networks.
It has more than $350 mn in deposits, $400 mn in collateral & $125 mn in loans.
They can pay so much because they do over-collateralized lending and then stake the collateral on major PoS networks.
It has more than $350 mn in deposits, $400 mn in collateral & $125 mn in loans.
The Terra ecosystem focuses on utility & ease of use.
All the pieces work together thanks to LUNA. The price of LUNA increases if the demand for UST grows.
All Terra tools are complementary. They push each other forward because there are extra advantages when using all of them.
All the pieces work together thanks to LUNA. The price of LUNA increases if the demand for UST grows.
All Terra tools are complementary. They push each other forward because there are extra advantages when using all of them.
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Of course, this is not financial advice yada yada yada.
You can lose money even with stablecoins, so think about what you do and make your own decisions.
You can lose money even with stablecoins, so think about what you do and make your own decisions.
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