Anchor and Terra UST Quick Updates..

avatar


image.png

UST Charging Up In Marketcap


I feel like a broken record having spent multiple days commenting on the benefits of Terra chain. Then again everyday there seems to be progress made by the platform.

As of today on coingecko UST has went ahead of BUSD in overall market cap. This now makes UST ranked 13th overall in all cryptocurrency market cap at nearly $17.5 billion.

An interesting fact to be aware of although UST supply has expended to be now third in stable coins by market cap the potential for further growth is still in the cards.

image.png

There is less than 50 exchanges that is trading UST, but what if it doubled? That would make the supply of UST grow that much more than where it currently stands and reducing the gap between USDT and USDC led.

Anchor Planning to Vote on bSOL collateral

image.png

Right now there is discussions of the pros and cons of bringing bSOL on Lido onto Anchor as a form of collateral. This is tying in another chain onto the Terra ecosystem which benefits all.

The steps to getting a vote on bSOL being on Anchor is now closer as propose is written. The next step will be a vote that is coming soon and as long as 10% or more of the ANC holders are voting yes then bSOL can get on board.

Last asset in bATOM took a few days during the voting for it to get enough yes votes to go through. Hopefully bSOL won't take as long as the application of using it on Anchor arrives sooner than expected.

Conclusions

There is also collaboration between Pokadot and Terra chains. Then there are new Terra projects that are coming on live.

image.png

Kinetics which focuses on auto-repaying loans is going on live. Early investors are the only ones allow to use the platform for now but down the road it will be open to all Terra chain users.

Exciting times ahead for Terra chain as a whole.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!



LeoFinance = Financial Blog
LeoDex = Hive trading exchange for Secondary Tokens, Low 0.25% fees for deposits and withdraws.
HiveStats = Hive stats per user
LeoPedia = Informative content related to anything about Crypto and how to make financial gains in crypto!
CubDefi = LEO Finance's Defi with CUB Token



0
0
0.000
2 comments
avatar

I wonder if there is any point in adding so many different tokens to the treasury. I know some people floated the idea of HBD being backed by BTC but I don't really see the point.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Btc remain core asset in the crypto space. Btc rises likely means altcoins rises. An altcoin to be backed by btc will mean one can always trade in altcoin for btc. This gives a the altcoin a value in the form of btc. If the altcoin is used to buy other tokens it will only increase the trade value of the altcoin as its backed by a treasury of assets. It creates something called a fly wheel effect. As one crypto is used to buy another the value of the assets continue to grow. That is why people like assets backed up by btc or other popular tokens/coins.

0
0
0.000