Terra (LUNA) ecosystem enthusiasts named three protocols that can catalyze demand for Terra’s UST stablecoin
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The ecosystem of high-performance smart contracts platform Terra (UST) is ready to onboard three protocols that might set new highs for Terra USD (UST) demand, a community activist claims.
Leveraged trading, collateralized options, FX: Potential catalysts for UST
A Terra (LUNA) supporter who goes by @Luna_Studio_ on Twitter has published a thread to cover three hotly anticipated decentralized finance protocols that can inject new interest into Terra’s UST.
$UST demand will SKYROCKET (!) when these three projects are launched.
A quick summary of the most anticipated projects on Terra🧵👇
(My favorite is @vertex_protocol )
— Luna Studio (@Luna_Studio_) April 22, 2022
The first protocol is set to offer a “trustless, community-controlled platform for leveraged products” on Terra (LUNA). Its clients will be able to trade perpetual swaps and leveraged crypto indexes that are protected by an auto-rebalancing mechanism.
The second protocol will allow crypto holders to mint options on Terra (LUNA) using various cryptos as collateral. UST tokens will be accepted here for native token incentive programs.
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At the same time, clients will be able to utilize UST liquidity to farm yield on Anchor Protocol (ANC), the most popular stablecoin staking instrument in the entire DeFi segment.
UST breaks into Big 3 as Terra’s Bitcoin euphoria continues
The last protocol will bring DeFi and forex markets together by offering leveraged trading for various stablecoin pairs, including those with non-USD stablecoins. This could bring Terra (LUNA) closer to unlocking the $6 trillion forex trading segment.
As covered by U.Today previously, Terra’s stablecoin UST surpassed Binance USD (BUSD) and became the third largest stablecoin. Only USDT and USDC have greater market caps.
This historic “flippening” takes place amid an unparallelled Bitcoin (BTC) purchasing campaign started by Terra CEO and founder Do Kwon.