Do you know stablecoins are an ideal safe haven asset because, unlike cryptocurrencies like Bitcoin that can fluctuate dramatically in price every day, an individual using stablecoins to store value see no risk of loss, especially because they have full custody of their assets. So how can we connect this to Terra, lets have a look at it!
WHAT IS TERRA?
Technically, Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings Defi to the masses. Terra’s aim is the mass adoption of cryptocurrency, so they focus on serving the end users not only crypto players.
Terra’s UST is a stablecoin that is intended to track the U.S. dollar, it also seeks to offer programmable money that’s easy to spend, with low fees, instant settlements, and utility for cross-border transactions.
Terraform Labs and its partners have built apps that operate on the company’s blockchain technology that helps keep a permanent and shared record of the firm’s crypto-related financial transactions. Let’s take a deep look into the project!