Over 48 Terra Projects Merged to Polygon Ecosystem

Over 48 projects that used to run on the Terra blockchain have been jointly migrated to the Polygon ecosystem, including the well-known Lunaverse (LUV) Metaverse platform, OnePlanet NFT marketplace, and Derby Stars play-to-earn (P2E) games.

Polygon Studios CEO Ryan Wyatt wrote on his official Twitter: “We are working closely with a variety of Terra projects to help them migrate over swiftly to Polygon.We will be putting capital and resources against these migrations to welcome the developers and their respective communities to our platform.”

Polygon, a decentralised Ethereum scaling network to simplify supply chain operations. The ecosystem provides scalable, secure, and instant Ethereum transactions designed to use Plasma side chains and a Proof-of-Stake network to solve the pain points of slow block confirmation and high gas fees.

The company said over 48 projects have successfully entered the Polygon ecosystem.

The network has been renamed Terra Classic. In May, Terra network’s native tokens, LUNA and UST, suffered an unprecedented collapse,

LUNA shed off all of the gains it has accrued over the past 12 months as it slumped to its 52-week low of $0.8384. The fall of the LUNA comes off as a bigger surprise to the crypto world as such a plunge is uncommon, especially for an established blockchain protocol that attained its All-Time High (ATH) of $119.18 barely a month ago.

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Terra-Based Anchor Protocol Hits $12b in Total UST Deposits

The growth and successes of the Decentralized Finance (DeFi) protocol are marked by a number of markers, one of which is the total assets deposited on the protocol.


For Anchor Protocol, a lending and borrowing protocol built atop the Terra blockchain network, its total UST stablecoins deposit has hit 12 billion, showing the massive embrace it is currently receiving from the Terra ecosystem.

As a money market protocol, Anchor Protocol pays out interest of up to 19.5% to depositors while also offering loans to anyone without the hassles of regular DeFi or traditional lending platforms. The Anchor Protocol milestone was unveiled on Twitter by Do Kwon, the founder of the Terra Blockchain, who noted that the 12 billion UST deposits were gleaned from a total of 226,000 depositors.

Anchor Protocol occupies a pivotal position in the Terra ecosystem and is the protocol’s most valuable platform with a 52.46% dominance atop a $15.05 billion in Total Value Locked (TVL). The impressive growth tracks of the Anchor Protocol have, however, failed to translate to equivalent growth in the native token of the platform dubbed $ANC tokens.

ANC was changing hands at $2.59, slipping 8.8% in the past 24 hours, and by more than 25% in the past month. The Defi ecosystem has maintained a very prominent pathway for investors, both retail and corporate investors, to explore the best offerings in the new world order powered by blockchain technology.

The success story of Anchor Protocol thus far stems from the platform’s focus on bringing true values to its users. The innovative and scalable designs of the Terra blockchain as well as the venture capital backing it has to build out ecosystem growth initiatives have also made administering the product offerings on the Anchor Protocol very much more accessible.

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XDEFI Wallet integrates Terra and launches liquidity program

XDEFI Wallet, a browser-based service for DeFi and NFT assets, has officially integrated the layer-1 blockchain protocol Terra on its platform following a number of weeks of testing and development.

With the addition of Terra, the platform now supports 9 blockchain networks including Bitcoin, Ethereum, and Polygon. It has also expressed intentions to incorporate Solana, Avalanche, and Arbitrum in the future.

Earlier this month, XDEFI launched their public cross-wallet extension onto Google Chrome’s web store, with the stated intention of enabling easy-accessibility for the browser’s users.

In late September, XDEFI raised $6 million from a recognised number of venture capital crypto firms including Mechanism Capital, Alameda Research and CoinGecko, as well as a series of private individual investors.

CEO and co-founder Émile Dubié commented on the benefits of Terra’s native algorithmic stablecoin TerraUSD (UST):

“I believe that UST serves a unique purpose as a decentralized stablecoin and will become a key component of the crypto ecosystem. Terra’s killer app is its accessible and UX-focused environment that caters for wider web3 adoption. It is truly exciting to see how Terra has developed as a Layer 1 and to see projects flourishing around UST.”

Related: 3 reasons why Terra (LUNA) price hit a new all-time high

XDEFI also revealed plans for the creation of a liquidity program on Terra in partnership with DeFi protocol Pylon. The program will aim to support debut projects on the Terra ecosystem and grant the community governance opportunities as to the types of projects selected.

According to analytical data from DeFi Llama, the Terra blockchain facilitates $9.75 billion in total value locked, or TVL, across eight assets, the most popular of which are Anchor Protocol, Lido Finance and decentralized blogging platform Mirror who record $3.94B, $2.95B and $1.27B, respectively.

CEO and Co-Founder of Terra, Do Kwon, shared his excitement on the potential impact XDEFI could have on the Terra ecosystem:

“We’re thrilled to welcome XDEFI as a non-custodial wallet supporting the Terra ecosystem. XDEFI integrating Terra provides LUNAtics with one of the fastest and most user-friendly multi-chain wallets in the industry, including a customizable NFT display which is soon to feature Terra’s booming NFT market.”