3. Anchor rate decreases to 18%.
This is a new phase for @anchor_protocol's sustainability
$UST growth was phenomenal, being the 3rd largest stablecoin by Marketcap. It is now essential to make Anchor more sustainable without depleting the yield reserve too much
That is why the community adopted a semi-dynamic Earn rate that took place today. This would be beneficial for long-term future of Anchor, $UST and $LUNA
What happened yesterday was historic, @yugalabs’s latest collection has been the largest NFT mint in history, making #ETH network unusable due to gas fees. The project has created too much demand for an insufficiently scalable chain like Ethereum
It goes without saying that Yuga Labs is now thinking about creating its own chain to properly scale. #Cosmos has everything they need to scale, within an interoperable environment.
Let’s see that, here is a thread that presents the project 👇
The past year has been a whirlwind for cross-chain interoperability. From being an esoteric subset of crypto that only infrastructure specialists focused on, interop is now clearly an essential subject for all of us
Users “ape” their liquidity from Ethereum into other chains, to participate in these booming ecosystems. However, aside from Cosmos and Polkadot, most ecosystems lack native interoperability and need to rely on 3rd-party bridges which are often hastily constructed and insecure.
Axelar applied to become the Canonical Ethereum Bridge Provider of @osmosiszone
For those who are not familiar with @axelarcore yet
Here is a Thread 👇
As we are now living in a multi-chain environment, interoperability between blockchains is important. Projects like Cosmos or Polkadot have interoperability and work well with their native ecosystems.
The Cosmos IBC for example allows the transfer of assets and information from one chain to another. But, when you want to connect to external chains like Ethereum, you need new technologies.