Terra Luna

Terra-LUNA is all set to host more than 160 new projects early next year

Terra-LUNA is all set to host more than 160 projects as Terraform labs, the South Korean company behind the blockchain project, aims to increase developer activity on the firm network. Recent update impact will be seen very soon as the launch of Inter-Blockchain Communication (IBC) protocol and Wormhole support for Terra approaches.

Terra-LUNA is all set to host more than 160 projects:

In late September, Columbus-5 was launched successfully on Terra-LUNA. The impact of this upgrade will start to unravel very soon. The AsiaMarkets has published a statement of co-founder and CEO of the Terraform Labs, DO Kwon. This announcement is hinting that Terra’s ecosystem is on the verge of expansion. Kwon added that after the Columbus-5 launch, more than 60 projects will be launched on Terra-LUNA in the next few weeks and 100 more projects are ready to be launched in early next year.

The CEO has added that the latest upgrade has opened up countless avenues for the expansion of Terraform labs. He also explained how the Terra-LUNA stablecoin use case will increase and also the prices. He further explained:

More projects on Terra diversify and amplify the demand for UST, accelerating the expansion of the stablecoin supply and accruing value to LUNA holdersrice of stablecoin.

Source: Twitter

UST, Terra’s native stablecoin, is the fifth largest stablecoin by market cap. UST maintains a nearly equal value to the US dollar by leveraging Terra’s utility token, LUNA. UST will gain popularity as the regulators are cracking down on Tether and USDC. The integration of Inter-Blockchain Communication (IBC) protocol, is set to open Terra up to a myriad of dapps in the Cosmos (ATOM) ecosystem while enabling UST to seamlessly hop between chains.

Wormhole compatibility will also be added which will enable Terra assets like UST to be seamlessly ported to some of the largest chains by TVL and users in the entire industry. The firm is trying to fulfill its promise of increasing the activity of the network.

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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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