Tag: Terra

Biggest future BTC whale explains why Bitcoin was chosen for ‘decentralized Forex reserve’

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Bitcoin (BTC) is the collateral asset of choice for the world’s biggest decentralized stablecoin, and one of its top executives says there was no other. Speaking to Bloomberg on April 4, Do Kwon, co-founder of Blockchain protocol Terra, pledged to continue buying BTC to back the firm’s stablecoin, TerraUSD (UST). Kwon: BTC buys will continue “in perpetuity” Terra has made waves inside and outside the crypto community in recent weeks thanks to its massive Bitcoin buys. Currently at just over 30,000 BTC, the reserves of Terra nonprofit the Luna Foundation…

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Defi Protocol Anchor to Implement ‘Semi-Dynamic Earn Rate’ Following Governance Vote

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On Thursday, the team behind the lending protocol Anchor announced that a proposal has passed and the decentralized money market will “implement a more sustainable semi-dynamic earn rate.” Following the announcement, the value of the protocol’s native token ANC slipped roughly 2% lower during the last 24 hours. Anchor Protocol Is Changing the Application’s Earn Rate Anchor Protocol, the decentralized finance (defi) money market and lending application built on Terra, is making some changes to its earn rate. According to a recently passed governance vote, Anchor Protocol will dynamically adjust…

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Terra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked Tokenomics

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Terra founder Do Kwon hinted at a future purchase of $3 billion worth of bitcoin to supply the reserves of the protocol in a recent Twitter Space shared with bitcoin enthusiast Udi Wertheimer. In the same Space, Do Kwon explained the new mechanics that the Terra ecosystem is introducing in order to use bitcoin as collateral for its flagship decentralized stablecoin, UST. Do Kwon Directs the Terra Ecosystem to Bitcoin Do Kwon, founder of Terra and Terraform Labs, made some important announcements regarding the future of the Terra…

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Terra, Avalanche and Osmosis lead the L1 recovery while Bitcoin searches for support

[ad_1] The layer-one (L1) ecosystem has received increased attention in recent months as users search for new investment opportunities in the Cosmos (ATOM), Fantom (FTM) and NEAR.  Following January’s market sell-off, where Bitcoin (BTC) price dropped to bottom below $34,000, much of the L1 field has struggled to regain its momentum. Price performance of L1 tokens since Jan. 24. Source: Delphi Digital According to data from Delphi Digital, since the BTC bottom on Jan. 24, the only L1 to experience a notable gain in price include Terra (LUNA), Avalanche (AVAX)…

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Rune’s upcoming mainnet launch and Terra (LUNA) integration set off a 74% rally

[ad_1] 2021 was a roller coaster of a year for THORChain (RUNE), which saw its price top out at $20.31 only to come crashing down below $4 as a series of hacks and declining interest in decentralized finance had the token limping into 2022. Data suggests that investors could be taking a closer look at Rune and a few potentially bullish factors could include the protocol’s recent integration with the Terra and Cosmos ecosystem, an upcoming mainnet launch and the attractive yields offered to liquidity providers. RUNE/USDT 4-hour chart. Source:…

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