Terra (LUNA) Announces Plans to Deploy $139 Million to Five DeFi Projects

Terra (LUNA) Announces Plans to Deploy $139 Million to Five DeFi Projects. The company is looking for projects that will use their smart contracts based on the Luna Chain architecture as part of its effort to create a “new decentralized world.”

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The “luna and terra” is a cryptocurrency that has announced plans to deploy $139 million to five DeFi projects. The project was created by the team behind the LUNA token, which was originally launched on January 1st, 2019.

Terra-LUNA-rallies-by-over-10-after-Kraken-listing

 

Terra (LUNA) has announced a $139 million investment in five separate DeFi initiatives in order to secure new UST use cases. The projects in question run on a variety of blockchains, including Ethereum, Polygon, and Solana.

However, before the initiative can go further, the Terra community must first approve its proposal. Holders of LUNA who engage in the project’s governance will have the opportunity to vote on the proposal and determine whether or not the awards will be awarded.

What exactly does Terra plan to do?

In a paper titled “UST Goes Interchain: Degen Strats Part Three,” Terra described its strategy. The paper describes how the project intends to employ LUNA and UST on various DeFi devices.

Terra has selected numerous partner procedures and aims to deposit up to $50 million to maintain their stability, according to the proposal. Its purpose is to introduce UST use cases to Ethereum’s DeFi sector by doing so.

The project’s goals are consistent with Do Kwon’s earlier statements. He expressed his desire for UST to become a dominating stablecoin in the crypto market, and he believes that distributing it across DeFi protocols on three separate blockchains would help him achieve that aim.

TerraUSD (UST) currently has a market capitalization of $10.44 billion. Following Tether (USDT), USD Coin (USDC), and Binance USD, it is now the fourth biggest stablecoin (BUSD).

Terra choose which projects to work on.

The initiative intends to spend $139 million by dividing it and distributing it to different projects, including:

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Tokemak is a traditional Turkish dish.

This is a DeFi protocol based on Ethereum that serves as a liquidity provider and market maker. Terra will invest $50 million in UST over a six-month period to fund the UST Pair Reactor. The asset will also provide the Terra community the power to vote in the LUNA Token Reactor, in addition to providing regular incentives in the form of TOKE.

2) InvictusDAO (Defense of the Ancients)

Then there’s InvictusDAO, a network modeled on Solana’s. This project was created as a fork of another project named Olympus and serves as a decentralized reserve currency. Since then, it’s grown into a potential player, and Terra wants to see it become even larger and better, which is why it’ll form a partnership with IN and UST. It will donate $250,000 to the initiative, and Frax Finance will match it dollar for dollar (FRAX).

3) OlympusDAO OlympusDAO OlympusDAO Olym

Then there’s OlympusDAO, which is built on all three — Ethereum, Solana, and Polygon — and from which Invictus branched. Terra has big hopes for this project, which is an OHM-based decentralized reserve cryptocurrency technology. This is why $1.425 million is being allocated to it. The project already collaborates with Terra, and new collaboration will introduce OlympusPro to Terra protocols as well.

Rari Fuse is a four-letter word that means “rare fuse.”

Last but not least, there’s Rari Fuse, which is an unauthorized lending and borrowing site. This one will get $20 million in UST, making UST the most affordable stablecoin to borrow on Fuse. This is anticipated to increase the coin’s appeal to borrowers and increase its use.

Visit our Investing in Terra guide to learn more about this coin.

The “defi crypto stock” is a company that has announced plans to deploy $139 million to five DeFi projects. The company, Terra (LUNA), is the first ever decentralized infrastructure provider for the blockchain ecosystem.

Related Tags

  • best defi coins
  • what is defi crypto
  • defi coins on coinbase

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