1/ #USTonSolana is a trending topic π₯
All eyes are on @MercurialFi. The vote to fund them with 167k$ in $LUNA to incentive the $UST pool will end tomorrow. The result is clear: 99,3% vote yes.
So, who is @MercurialFi, and what can we expect as #Lunatics on @solana?
π§΅π
All eyes are on @MercurialFi. The vote to fund them with 167k$ in $LUNA to incentive the $UST pool will end tomorrow. The result is clear: 99,3% vote yes.
So, who is @MercurialFi, and what can we expect as #Lunatics on @solana?
π§΅π
2/ Why @solana? As outlined in the initial agora post by @jkuanderulo, the concept of $UST is based on growth and utilization.
Solana promises a bright future in DeFi, with @MercurialFi as the core protocol for stablecoin adaption. So, a way to grow $UST usage & utility!
Solana promises a bright future in DeFi, with @MercurialFi as the core protocol for stablecoin adaption. So, a way to grow $UST usage & utility!
3/ @MercurialFi enables low slippage swaps for stablecoins on multi-token pools.
Instead of having a pair like USDC-UST, they create a vault out of USDT, USDC, and UST.
By introducing dynamic fees, they created a unique, secure, and highly liquid environment for stablecoins.
Instead of having a pair like USDC-UST, they create a vault out of USDT, USDC, and UST.
By introducing dynamic fees, they created a unique, secure, and highly liquid environment for stablecoins.
4/ More stuf like lending and a native DAO are in the making. They look promising!
What about yield? Let us have a look at the possibilities to farm with our $UST on their pools.
And no worries, one of the benefits of the pools is that you can provide 100% liquidity in UST.
What about yield? Let us have a look at the possibilities to farm with our $UST on their pools.
And no worries, one of the benefits of the pools is that you can provide 100% liquidity in UST.
5/ The UST-3Pool currently offers an APR of 22%. The numbers have come down over the weekend (35%)
Based on some team insights (discord), the pool is aimed at an APR of around 20%.
Additionally, $LUNA tokens will be distributed between all LP holders on a pro-rata basis.
Based on some team insights (discord), the pool is aimed at an APR of around 20%.
Additionally, $LUNA tokens will be distributed between all LP holders on a pro-rata basis.
6/ "But Anchor offers already 20%, ser!"
Fair feedback. There might not be an easy answer from a yield perspective if you should allocate funds right now.
Two things I think we should consider:
(1) $UST exposure & expansion
(2) Early mover advantage on @solana with $MER
Fair feedback. There might not be an easy answer from a yield perspective if you should allocate funds right now.
Two things I think we should consider:
(1) $UST exposure & expansion
(2) Early mover advantage on @solana with $MER
7/ (1) $UST exposure:
As $LUNA & $UST holder, I have an interest in maximum exposure of UST on other blockchains. You can see this investment as a long-term yield opportunity on the LUNA price.
Our work as a community now can establish UST as the leading stablecoin on @solana
As $LUNA & $UST holder, I have an interest in maximum exposure of UST on other blockchains. You can see this investment as a long-term yield opportunity on the LUNA price.
Our work as a community now can establish UST as the leading stablecoin on @solana
8/ (2) Solana & $MER:
In case we see a DeFi summer on @solana as last year on $ETH, you might be in a great position farming a young and promising protocol as @MercurialFi.
Do you think DeFi will explode on Solana? This could be a chance for you. Take your decision wisely!
In case we see a DeFi summer on @solana as last year on $ETH, you might be in a great position farming a young and promising protocol as @MercurialFi.
Do you think DeFi will explode on Solana? This could be a chance for you. Take your decision wisely!
9/ "Any info on audits?"
Not yet, but working on it. They are still in beta with extensive text coverage (5/1 test to production code ratio; team member info)
They are backed by the DeFi Alliance (theblockcrypto.com/post/106118/deβ¦) and have open communication. I see no red flag yet.
Not yet, but working on it. They are still in beta with extensive text coverage (5/1 test to production code ratio; team member info)
They are backed by the DeFi Alliance (theblockcrypto.com/post/106118/deβ¦) and have open communication. I see no red flag yet.
10/ "I want more $LUNA burned, ser! How can I get my $UST over to Solana?"
There are different ways. As the WORMHOLE for Terra is not yet ready, you might want to use the ETH WORMHOLE, Ren-bridge, or go the #DegenWay π
The last one is cheap and a fun ride!
There are different ways. As the WORMHOLE for Terra is not yet ready, you might want to use the ETH WORMHOLE, Ren-bridge, or go the #DegenWay π
The last one is cheap and a fun ride!
So, will a part of your $UST be soon on @solana? Will you be on @MercurialFi? Will you push @terra_money to burn more $LUNA?
Let me know! π
Do you want more details? I have also everything in a video for you
Let me know! π
Do you want more details? I have also everything in a video for you
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