Wallets that support $TERRA token
In this article we will be taking you to the list of wallets that support $TERRA token but, before we get into it, here’s a short explanation of what the $TERRA token.
The $TERRA token is a Stablecoin that track the price of fiat currencies. Users mint new Terra by burning Luna. Stablecoins are named for their fiat counterparts. For example, the base Terra stablecoin tracks the price of the IMF’s SDR, named TerraSDR, or SDT. Other stablecoin denominations include TerraUSD or UST, and TerraKRW or KRT. All Terra denominations exist in the same pool.
With that aside now, let’s finally dive into the following list of wallets that support the $Terra token.
· Coin98
A DeFi Gateway for TraFi users to access any DeFi services on multiple blockchains
Mission
We provide a one-stop platform for users to access the DeFi ecosystem, such as decentralized exchanges, lending protocols, on-chain governance, blockchain-based games, and cross-chain transfer on over 20 networks such as Ethereum, Binance Smart Chain, Solana, Avalanche, and more.
Strategy
Build an ecosystem of resource across crucial sectors for the substantial maturity of Decentralized Finance — DEFI.
· Leap
Leap is a Wallet on Terra blockchain to improve your overall experience in the Terraverse.
Leap offers the simplest & safest way to store, send, swap, and stake tokens on Terra. It is a non-custodial wallet and will have a lot of exciting features like integration with your favorite protocols, dApps, NFT section, etc.
· Oxis
We’re on a mission to make managing and investing in cryptocurrencies easy for everyone without sacrificing the security and privacy that characterizes our industry.
· Trust Wallet
- A decentralized wallet, that encrypts the keys to your cryptocurrency wallet.
- A user controlled wallet, where only the user has full control over their funds.
- Can be used to access DApps after a user gives their permission to interact with them.
- Does not keep any personal information of anyone who uses the app.
- Does not hold any user funds, everything is on the blockchain.
- Main goal is Making Crypto More Accessible by allowing anyone to freely use the app.
· Liquality
MISSION
To build tools and protocols that allow all peers to interact with the decentralized economy in the most secure, easy, and accessible way.
VISION
Empowering digital autonomy for an open, equitable world
· XDEFI
XDEFI Wallet is a multi-chain web browser extension currently available on Chrome & Brave (soon on Firefox) built for DeFi users and NFT lovers. It is the world’s only wallet with native integrations on THORChain, Ethereum + several EVM networks and Terra. XDEFI Wallet is a non-custodial/decentralized wallet.
· Math Wallet
MathWallet is a powerful universal crypto wallet which support multi-chain tokens and dApps on both mobile / browser extension / web / hardware wallet.
Choose the chain to start intergrate your dApp to MathWallet.
· OUTLET
They redefine what it means to do banking. They are working to build a more open, transparent and fair banking system. They want to create banking that is truly for the people.
About the Terra Protocol
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.
Terra and Luna
The protocol consists of two main tokens, Terra and Luna.
- Terra: Stablecoins that track the price of fiat currencies. Users mint new Terra by burning Luna. Stablecoins are named for their fiat counterparts. For example, the base Terra stablecoin tracks the price of the IMF’s SDR, named TerraSDR, or SDT. Other stablecoin denominations include TerraUSD or UST, and TerraKRW or KRT. All Terra denominations exist in the same pool.
- Luna: The Terra protocol’s native staking token that absorbs the price volatility of Terra. Luna is used for governance and in mining. Users stake Luna to validators who record and verify transactions on the blockchain in exchange for rewards from transaction fees. The more Terra is used, the more Luna is worth.
How the Terra protocol works
Stablecoins
Stablecoins are the main feature of the Terra protocol: crypto assets that track the price of an underlying currency. As a digital form of currency, Terra stablecoins can be used just like fiat currency with blockchain’s added benefits: an unchangeable public ledger, instant transactions, faster settlement times, and fewer fees.
Stablecoins are only valuable to users if they maintain their price peg. The Terra protocol uses the basic market forces of supply and demand to maintain the price of Terra. When the demand for Terra is high and the supply is limited, the price of Terra increases. When the demand for Terra is low and the supply is too large, the price of Terra decreases. The protocol ensures the supply and demand of Terra is always balanced, leading to a stable price.
