Terra Turns To AVAX Reserves To Stay Ahead Of Competitors
bitcoinist.com/terra-turns-to-avax-reserves/
bitcoinist.comPosted Apr 9, 2022, 4:22 AM UTC
821
bitcoinist.comLUNA has been one of the few profitable coins in my bag during this dip. Thanks Terra
2
[removed]
1
[removed]
1
go terra
1
Luna to the Luna
1
The sweet nugget keeping my portfolio afloat. I thought I was buying a cool alt but I'm somehow buying a bitcoin reserve.
1
Soon Luna will start competing with grayscale.
1
Let's break that ath
1
Sigh, take a involuntary 3 month break from the crypto markets and this is what I return to? Rivalry in between people i didn’t think we’re possible!
1
[removed]
1
[removed]
1
[removed]
1
Terra has been on a tear. First gobbling up BTC, now AVAX…looking good
1
I wonder which coins will be next
1
Buying AVAX seems like a marketing ploy. Its not like theres any benefit for diversifying into other cryptos when everything still follows roughly similar curve
1
[removed]
1
[removed]
1
Terra on a terror stacking up good crypto.
0
Gonna be a good move.
0
tldr; Terraform Labs has purchased $200 million worth of AVAX to act as a reserve asset for its stablecoin UST. This comes on the heels of competitor NEAR Protocol announcing that it was planning to launch its own stablecoin called USN that would offer APR as high as 20%. This is no doubt a play to poach users from the Terra platform.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Am still interested in NEAR and USN. Not sure how they think they can maintian 20% apr on a stablecoin. Terra is doinf it so far so who knows