UST is live on Synapse

Synapse Protocol
Synapse Protocol
Published in
2 min readApr 7, 2022

The largest decentralized stablecoin, now available on the most widely used bridge

We are excited to share that we’ve launched support for UST on Synapse! This marks our first non-EVM chain connection, and we’re looking forward to interconnecting Terra in their multi-chain expansion plans.

Users can now send UST between Terra and Arbitrum, Optimism, and Metis and in just a few days, we will add support for Ethereum, Avalanche (c-chain), and Fantom. Our goal is to connect UST and the Terra ecosystem with each one of the 15 (and counting!) EVM chains we support, which will make Synapse the most robust and seamless way to move UST throughout the crypto economy.

The launch of UST on Synapse also marks a big step forward for the protocol as we expand support for non-EVM blockchains, bringing us one step closer to our long term vision of becoming the most widely used and built upon cross-chain communications network.

Terra meets the EVM

UST is the largest decentralized stablecoin in the the crypto economy and the bedrock of the Terra ecosystem. UST has seen tremendous growth over the last few years and now boasts a market cap over $16 billion USD.

Today, UST is used in a wide variety of financial applications, helping users earn yield and access the stability of a permissionless decentralized stablecoin. While most UST is held and used on the Terra blockchain, that is rapidly changing thanks to their multichain expansion. Hundreds of millions of UST has found its way to new EVM chains including Ethereum, Avalanche, and Fantom, and we expect that trend to rapidly grow from here.

As the most reliable and widely used cross-chain bridge, we expect Synapse to be at the forefront of UST’s cross-chain liquidity.

UST on Synapse

On day one, Synapse users will be able to send UST between the Terra blockchain and Arbitrum, Optimism, and Metis. We are working with teams from a number of our supported chains to integrate UST very shortly.

One of the new opportunities we’re excited to support upon launch is the new 4pool. All UST bridged into Arbitrum will route through Synapse. We will be working closely with the Terraform Labs and Arbitrum teams to ensure a seamless launch.

About Synapse

Synapse is a universal cross-chain liquidity network that connects blockchains by offering an extensible cross-chain communication protocol that supports assets, smart contract calls, and more. By leveraging Synapse, blockchains can easily and securely interoperate with each other, and developers can build truly cross-chain applications including cross-chain DEX, lending platforms, margining systems, derivatives markets, yield aggregators, and much more.

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