![]() Stablecoin holders can earn rewards through the Anchor protocol. This involves the protocol adjusting the supply of an asset to help retain its value. Terra provides self-stabilizing stablecoins that are regulated through an elastic monetary supply mechanism. Currently, there are around 20 different stablecoins circulating in the Terra ecosystem, the most established of which are UST (which is pegged to the US dollar) and KRT (which is pegged to the South Korean won). The stablecoins offered by Terra are pegged to fiat currencies and are being used in the real world now, especially in Asia. At this time, Terra is available on Ethereum and Solana. The worldwide adoption of blockchain technology cannot occur without interoperability and Terra was designed to run on multiple networks, connected by the Cosmos Inter-Blockchain Communication Protocol. It also uses the native LUNA token, a stablecoin protocol and an oracle system, with some of these key features explained below. Terra supports smart contracts as part of its mission to be programmable money for the internet. ![]() As a result, it incorporates the BFT-based (Byzantine Fault Tolerance) Proof of Stake consensus engine and, like all Cosmos-based blockchains, is designed to be plugged into the wider Cosmos network. Terra (LUNA) is sometimes referred to as the “DeFi hub of Cosmos” and was built using the Tendermint Cosmos SDK (Software Development Kit). It also sought to leverage the potential of ecommerce in order to increase cryptocurrency adoption and was backed by the Terra Alliance, a group of ecommerce giants in Asia, to do so. It was created in January 2018 by co-founders Daniel Shin and Do Kwon with the ambitious goal of building a digital financial system independent of major banks and established fintechs. Terra (LUNA) is a decentralized financial protocol that claims to be “programmable money for the internet”. What is the Terra (LUNA) Network? Interoperability Stablecoins Anchor protocol Mirror protocol The Terra (LUNA) Ecosystem Ecosystem Partnerships Terra Bridge Shuttle Wormhole Axelar Injective Protocol Intellabridge Loop Finance Terra (LUNA) Wallets Staking and Yield Farming on Terra (LUNA) Should I Use Terra (LUNA) for Yield Farming? What is the Terra (LUNA) Network? In this ultimate guide to yield farming on the Terra (LUNA) network, we’ll run through the key features of the technology, which ecosystem partners you need to know, the wallets you can use and the best staking or yield farming opportunities that exist right now. Dubbed “the DeFi hub of Cosmos”, Terra has a strong following across Asia and is emerging as one of the best places for intrepid Yield Farmers to explore. This relatively new protocol is one of the standout examples of Cosmos’s internet of blockchains in action. But what about a Layer 1 alternative that is wholly designed for decentralised finance and programmable money? The Ultimate Yield Farming Guide For Terra Blockchain (Luna) Įveryone knows about Ethereum on DeFi.
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