Terra (LUNA) and Its UST Stablecoin Are Now Available on Emeris Beta
Emeris continues to add support for some of the very best blockchains in the Cosmos ecosystem, ultimately enhancing the user experience and furthering the possibilities of cross-chain DeFi.
Today, we’re pleased to announce that Emeris is adding support for Terra, a top-15 blockchain project and decentralized platform built on Cosmos-SDK designed to implement quick, efficient, and scalable payments on a global scale. Terra has just enabled IBC, taking the total number of IBC-enabled chains to 18, registering over 1.2 million IBC transactions per month.
Please note that users can currently make cross-chain transfers with LUNA and UST using Emeris. Swaps and participation in liquidity pools are coming soon!
About Terra and Its $18 Billion Ecosystem
Terra functions as an advanced payment network and e-commerce platform mainly powered by its fiat-pegged stablecoin ecosystem, which allows for greater and consistent price stability when facilitating cross-border payments.
Terra’s ecosystem of stablecoins, in addition to its native LUNA token, adds up to over $18 billion in total market capitalization. Across the entire Terra network, including Anchor Protocol and Mirror Protocol, Terra’s two largest and most popular DeFi protocols, there’s almost $9 billion in TVL (Total Value Locked) available. The platform also has a wide user base made up of almost 3 billion registered user accounts for Terra Station, its wallet for managing supported ecosystem assets.
Terra is initially enabling IBC for its native LUNA token and popular TerraUSD (UST) dollar-pegged stablecoin (currently the fifth-largest stablecoin by market cap) — with the rest of its stablecoin range and protocols to follow. UST will provide users with an attractive option for price stability, serving as a safe-haven asset in times of high market volatility. Emeris users will also be able to purchase the popular LUNA token and seamlessly exchange it across other chains by leveraging its high liquidity.
Terra integrating IBC is important for the Cosmos ecosystem as a whole, bringing billions in liquidity to all IBC-enabled chains and setting the stage for a bright future of enhanced interoperability. This convergence means higher cross-chain value transfer, where all Cosmos chains and associated dApps will ultimately benefit.
