Updates in Terra Blockchain Ecosystem
The Terra protocol is the leading decentralized and open-source public blockchain protocol for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol creates stablecoins that consistently track the price of any fiat currency. Users can spend, save, trade, or exchange Terra stablecoins instantly, all on the Terra blockchain. Luna provides its holders with staking rewards and governance power. The Terra ecosystem is a quickly expanding network of decentralized applications, creating a stable demand for Terra and increasing the price of Luna.
The Terra Blockchain has some updates this week. Check out the list of them below.
· $UST is now integrated with THORChain
THORChain is a decentralised cross-chain liquidity protocol based on Tendermint & Cosmos-SDK and utilising Threshold Signature Schemes (TSS). It does not peg or wrap assets, it simply determines how to move them in response to user-actions.
THORChain observes incoming user deposits to vaults, executes business logic (swap, add/remove liquidity), and processes outbound transactions. THORChain is primarily a leaderless vault manager, ensuring that every stage of the process is byzantine-fault-tolerant.
THORChain’s key objective is to be resistant to centralisation and capture whilst facilitating cross-chain liquidity. THORChain only secures the assets in its vaults, and has economic guarantees that those assets are safe.
· $LUNA is now listed on CEX.io
CEX.IO was one of the first platforms to make fiat-to-crypto transactions accessible by offering card payments and bank transfers to the clients. They place a great effort into developing and maintaining robust relationships with dozens of reputable banks across the key markets.
Currently, they provide a rich variety of trading tools for Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Tron, and other crypto assets. You can trade these cryptocurrencies for USD, EUR, and GBP.
They know that mobility matters, so they’ve enabled trading through a website, iOS and Android mobile apps, WebSocket, and REST API.
· Alice released the new website
Alice is software and tools developed by Alice Software, Inc. Alice Software, Inc. is not a bank and does not offer any federal or state banking or depositary services to its customers. Alice Software, Inc. offers a seamless connection between users and smart contracts on Anchor protocol, which is a decentralized blockchain protocol powered by Terraform Labs Pte. Ltd. Alice Software, Inc. does not generate yield (or any form of return) for its members. Yields are generated by the Anchor Protocol.
· Trader Joe now support liquidity for wormhole $UST
Trader Joe is a one-stop trading platform on Avalanche. It will launch first with regular trading and later with lending, which combine together to offer leveraged trading.
· $sAVAX is now live on Anchor
Anchor Earn is designed with interchain access in mind. Further releases of Anchor Earn are to enable integrations for interchain deposits, opening up savings for applications outside of the Terra blockchain. With the use of EthAnchor, BscAnchor, SolAnchor, etc., Anchor Earn is to be further expanded to enable savings regardless of blockchain or the type of stablecoin.
· Leap is now partnering with Transak
Leap is a non-custodial next-generation wallet for Terra. Our goal is for Leap to become the most user-friendly crypto wallet for Terra and be your gateway to every aspect of the Terraverse. To achieve this goal, we aim to tackle the previously mentioned problems head-on.
· Transak supports US citizens to buy $UST
Transak is a developer integration that lets your users buy cryptocurrency in your app or website.
With Transak you can onboard mainstream users into your dApp, protocol, game or wallet app and also increase your revenue. We handle all of the KYC, regulation & compliance, fiat payment methods, and crypto coverage.
Whether you’re just starting your project or a large established firm looking for a fiat on-ramp, integrating and customising Transak is an easy process. The simplest technical integrations can be done in just 5 minutes.
