New proposal of Terra suggests expanding UST to 5 different DeFi protocols

A new proposal of Terra suggests expanding UST to 5 different DeFi protocols on Polygon, Ethereum, and Solana. A proposal from the governance of Terra has suggested leveraging $139 million of UST for an Awesome use case in the DeFi realm.

US dollar-pegged token of the Terra, UST, is holding the fourth position in the world of Stablecoins. UST has seen an addition of 21.4% in its market cap over the last 30 days. The largest decentralized algorithmic dollar-pegged coin, UST has more than $10 million in circulation as of today. The project team is trying to increase the exposure of UST across the realm of decentralized Finance (DeFi).

New proposal of Terra

New proposal of Terra suggests expanding UST:

A new proposal from the Terra governance is suggesting to increase the UST exposure to specific protocols in the DeFi ecosystem. The proposal claims that it will be an awesome use case for DeFi. The first UST collaboration mentioned is with the Olympus DAO on Ethereum, Solana, and Polygon. Essentially, Ezaan wants to enable UST bonds and bond $1 million UST in Olympus forever.

This new proposal of Terra was presented by Researcher Ezaan. “Follow up posts in the Agora thread including when UST bonds are live,” Ezaan said. “1m bond transaction, bi-weekly updates on UST in the Olympus DAO treasury for two months, all three pair addresses when they exist and where you can join the farm.”

The craze of the DeFi space is not going to slow down this year also. In my opinion, it will be an awesome opportunity for UST to grow its influence in the DeFi realm.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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