Terra Is Activated on Thorchain - Why It Matters - Bullish for Rune and entire crypto
Terra finally launches on Thorchain
Why is this a big deal?! Let’s delve into it.
Much of this information is from one of the Thorchain comms team on Twitter. So I’m basically sharing screenshots of his analysis and adding my thoughts. Let’s go.
I’ll be honest with you here, I don’t know much about Luna other than it is burnt to mint UST which is a supposed decentralized algorithmic stable coin, at least far more decentralized than USDT and BUSD, which was why it gained so much attention and traction in the first place.
Most of us saw how metamask mistakenly restricted users by their IP addresses a couple of weeks ago, it makes me think can Tether also do the same? Or Busd? If governments ask them to?
It will be a disaster to have the most used and owned stable coin in existence centralized. It’s so bad it’s like a ticking time bomb. Imagine your USDT or BUSD gets frozen one day or by mistake? UST fixes this.
Okay granted, in this part, he obviously has no idea about HBD, moving on, he has a point, like I already explained, LUNA solves decentralized algorithmic stable coin, Thorchain solves decentralized liquidity protocol, a match made from heaven! Or Valhalla!
This is where it gets interesting
Welcome to the Thorchain liquidity black hole
And here we go guys, after seeing all these screenshots I figured that I could have just shared the link to the tweet but my plan was to leave a commentary of my opinion beneath each screen shot. But alas, I was taken away in amusement as I was posting the images and re reading the thread.
What baffles me is how such vital information is stored in a centralized database that could be censored and deleted at anytime. Plus I know for a fact that a of people around here don’t use Twitter and will appreciate this information.
If you’ve been wondering why Rune has been doing numbers lately, wonder no more, here’s your answer!
Few hours ago, Terra was launched on Thorchain and UST and Luna have begun trading. History is being made today, the world of crypto and decentralization just got a face lift. I can’t contain my excitement.
Now, wen TLeo on Thorchain? @leofinance
Let’s put decentralized social protocol Hive on decentralized exchange through Leofinance. 🤩
For more information visit this link
https://thorswap.medium.com/terra-luna-on-thorswap-earn-yield-trade-cross-chain-assets-856676918e10
Posted Using LeoFinance Beta
I am a big fan of Terra chain. I only started investing in Luna about four months and I can say its be great. You have it right where Luna is burned for UST. Would like to add because of this burning Luna is a deflationary coin. Each day about 1 million Luna is removed and UST amount in Luna daily price is minted. The UST market cap continues to rise because people like its stable value and 19.5% APY when placed on Anchor protocol. This is more than HBD and the fact that UST has pegged to $1 USD pretty closely for most of its existence.
I am very excited with Terra now on Thor too. Been hunting for bigger yields for Luna while holding Luna. If 30% is in the cards that will be the biggest reward yields for native Luna to date. Sweet!
Thanks for your addition.
I hear the yields might be even above 30% for the first few days.
It is at 18% now, and was 2% yesterday. Yeah it is definitely rising.
22% now
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Thorchain’s RUNE token has doubled in price in recent weeks amidst rising interest in its new synthetic assets feature, Terra plans, and THORFi rollout. While the fundamentals favor the bulls, prices could retrace before advancing further. You really did some scrutiny with those screenshots!
Yep! Exactly what Is happening right now
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Knowing this and knowing peace !
I don't know the ThorChain project but I have viewed the TERRA project. I am happy to read this news because I am convinced that TERRA is a good project and its ecosystem is expanding very quickly. This news confirms that TERRA is further expanding
Posted Using LeoFinance Beta
Yes it does. You should also look into Thorchain, they both make a beautiful match. Thorchain is essential to the whole of crypto and the Rune token powers it. Don’t get it wrong, Thorchain is the entire protocol powered by Rune token. Thorswap is the exchange, one of the decentralized AMM exchanges using the Thorchain protocol and powered by Thor.
Just saying this so you look out for the difference and importance of both when doing your research
Posted Using LeoFinance Beta
Woh! thanks for this valuable response, and thanks also for the details you gave me