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- A Terra supporter has highlighted three protocols that may boost its UST stablecoin demand.
- Luna Studio signified and talked about all the anticipated protocols in a lengthy Twitter thread.
- Terra (UST) currently has a market cap of $18,140,506,603, and it stands at the twelfth position among crypto by market cap.
Recently, a community activist of the Terra (UST) network has highlighted that the ecosystem of high-performance smart contracts platform Terra (UST) is all set to onboard three protocols that might bring new achievements for Terra USD (UST) demand.
A Terra supporter by the name Luna Studio on Twitter highlighted via a lengthy thread the three highly anticipated decentralized finance (DeFi) protocols that may attract further interest in Terra’s UST.
He signified that the first protocol is ready to facilitate a trustless, community-controlled platform for leveraged products on Terra (LUNA). The users would be enabled to trade perpetual swaps and leveraged crypto indexes which are protected by an auto-rebalancing mechanism.
Furthermore, the second protocol will provide crypto holders with mint options on Terra (LUNA) utilizing several cryptos as collateral. And for the native token incentive programs, the UST tokens will be accepted here.
Additionally, clients will also be facilitated to use UST liquidity to farm yield on Anchor Protocol (ANC), which is the most popular stablecoin staking instrument in the DeFi space.
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Continuing in the Twitter thread, Luna Studio highlighted that the third protocol would bring together DeFi and forex markets by enabling leveraged trading for varied stablecoin pairs, comprising those with non-USD stablecoins. And that this might bring Terra (LUNA) near to unlocking the $6 trillion forex trading segment.
Terra is a Proof-of-Stake blockchain protocol and a next-generation smart contracts platform that merges decentralized finance with the concept of Stablecoins.
The network’s native token is LUNA, which is utilized to keep an algorithmic stablecoin peg to the US Dollar. Terra facilitates the users with an arbitrage opportunity by enabling them to burn LUNA governance tokens to dilute the supply of UST and keep it stably pegged.
Terra has been in a lot of limelight lately, as Terra founder and CEO Do Kwon, has been emphasizing on purchasing Bitcoin (BTC).
At the time of writing, Terra (UST) has a market cap of $18,140,506,603, and it stands at the twelfth position and has recently flipped the significant meme currency Dogecoin (DOGE) by market cap.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
