The Terra Ecosystem has not stopped growing despite all the setbacks it experienced this year with the crash of Terra Luna. Terra Ecosystem still has a growing total market capitalization of $1,043,511,527 and a growing trading volume of around $229,098,842. In Today’s pick, we will be looking at some top tokens under the Terra Ecosystem as aggregated on CoinMarketCap.
Note: This List is sorted by market capitalization from lowest to highest.
Contents
MIR is the governance token for the Terra blockchain-based Mirror System, a protocol for synthetic assets created by Terraform Labs (TFL). This project is meant to be entirely decentralized and community-driven.
Blockchain tokens that mimic real-world assets by reflecting market prices on-chain are known as “mirrored assets.”
They provide fractional ownership, open access, and censorship resistance like any other cryptocurrency while providing traders with price exposure to real assets. It has a 24-hour trading volume of $9,409,026.
Exchange: Mirror Protocol at the current rate can be bought on these top cryptocurrency exchanges: Binance, OKX, BingX, MEXC, and CoinW.
Founded in March 2021, A stablecoin deposit with the lending and borrowing technology Anchor Protocol can yield up to 19.5%. Lenders can deposit their UST and profit from minimal volatility while earning competitive rates on their investments. Borrowers have the option to convert their LUNA collateral into valuable assets while maintaining ownership.
Thus, the Anchor Protocol can draw conservative investors seeking high-yield, low-volatility investments and boost UST demand. This helps the Terra project’s adoption in DeFi and the adoption of UST as a stablecoin.
The cost of LUNA will rise as Terra, whose creators are behind the introduction of Anchor Protocol, becomes increasingly popular.
The main benefit of the protocol is that it connects lenders and borrowers by giving the latter an appealing interest rate on stable assets and the former a way to borrow in stablecoin without losing their investments. It has a 24-hour trading volume of $27,496,146.
Exchange: Anchor Protocol is trading at some top cryptocurrency exchanges such as Binance, OKX, BingX, Deepcoin, and MEXC.
Launched in September 2020, the Terra blockchain’s decentralized and algorithmic stablecoin is called TerraUSD (UST).
In response to the substantial scaling issues other stablecoin leaders were experiencing, TerraUSD was developed to provide value to the Terra community and provide a scalable alternative for DeFi.
TerraUSD stands out among competitors for stablecoins thanks to several advantages it offers. Because of its minting technique, UST satisfies the specifications of the DeFi protocols it employs without sacrificing scalability.
Another simple way to add UST to cryptocurrency wallets is to include TerraUSD as a payment option. DApps are another area where TerraUSD has demonstrated its strength.
For instance, platforms that produce fungible synthetic assets and monitor real-world asset values use UST as a pricing benchmark.
Exchange: TerraClassicUSD is trading on these top cryptocurrency exchanges: Binance, BTCEX, OKX, Bybit, and MEXC.
The Terra blockchain’s first native token, Luna Classic (LUNC), was launched in August 2018. Before the new chain, now known as Terra (LUNA), launched, $LUNC already existed and operated using the Terra ecosystem’s original programming.
With the help of the blockchain protocol Terra, price-stable international payment networks can be powered. According to its white paper, Terra enables quick and inexpensive settlements and combines the price stability and widespread use of fiat currencies with Bitcoin’s (BTC) resilience to censorship.
The original Terra Chain was rebranded as Terra Classic. In contrast, the original native token (LUNA) is renamed LUNA Classic (LUNC).
What distinguishes Terra (LUNA) and Terra Classic (LUNC) from one another?
Due to the adoption of Terra Ecosystem Revival Plan 2, both token variants are legally permitted to exist. The core of the strategy is to fork the current blockchain, which would produce a new chain in the ecosystem while retaining the original.
By using fiat-pegged stablecoins, Terra aims to distinguish itself from the competition by fusing the advantages of cryptocurrencies with the daily price stability of fiat money. It maintains its one-to-one peg through a system that automatically modifies stablecoin supply based on demand.
Exchange: Terra Classic, at the current rate, is trading on some top cryptocurrency exchanges such as Binance, OKX, BingX, Bybit, and CoinTiger.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any project.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: veronikavd/123RF // Image Effects by Colorcinch
With the second-layer expansion, the Ethereum ecosystem can now fully support high-speed, low-cost applications that are an order of magnitude higher than the previous cycle. The focus of the crypto ecosystem in the next period of time should also be to enter a stage led by application-side innovation and development.
JinseFinanceI'm very much looking forward to seeing them move in the direction they envision with their second-tier expansion.
JinseFinanceThis article will make a technical summary of the exploration of BTC ecological games, the metaverse and the autonomous world, and see how Inscription and chain games are combined.
JinseFinanceEthereum surpassed Bitcoin with a 62% increase, which was indeed unexpected by many people.
JinseFinanceLooking back at the whole year of 2023 at the beginning of 2024, the Bitcoin ecosystem has indeed blossomed with a hundred flowers, from the historic moment of "spot ETF passing" at the beginning of this year, to the BRC20 protocol, Bitcoin NFT, Layer 2, ecological infrastructure, etc.
JinseFinanceThis article will discuss the current development direction of the Bitcoin ecosystem. It will only provide an overview of the current Bitcoin ecosystem and does not contain any investment advice.
JinseFinanceTerraform Labs will put the proposal to a governance vote on May 18th, Asia time.
CointelegraphLuna life and death.
FtftxUntil a few days ago, Terra was considered one of the most promising projects.
链向资讯UST has gained the trust of the DeFi community. It is a veritable decentralized stable currency that does not require a central management agency to ensure sufficient reserves to support prices. Stablecoins play an important role in DeFi through staking, liquidity management, and yield generation.
链向资讯