Sign Up on MEXC
Highlights
- Terra Luna submits proposal to establish deep stablecoin and Cosmos (ATOM) token liquidity on Terra
- USDC-USDT and ATOM-LUNA liquidity pool (LP) tokens will be whitelisted
- TFL will collaborate with Astroport contributors to create a stableswap USDC-USDT pool and an ATOM-LUNA PCL pool
- LUNA, LUNC, USTC Prices Rally After Announcement
Terra Luna has proposed a governance discussion proposal to establish deep stablecoin and Cosmos (ATOM) token liquidity on Terra. The proposal is in line with Terraform Labs chief executive officer (CEO) Chris Amani’s plan to have the deepest stablecoin liquidity in Cosmos, becoming the only ecosystem that has “defi-sufficient” liquidity for both Cosmos and non-Cosmos blue-chip assets.
Terra Announces Progress in Deep Stablecoin Liquidity
A proposal is submitted to whitelist USDC-USDT and ATOM-LUNA liquidity pool (LP) tokens to establish deep stablecoin and Cosmos token liquidity on Terra by Terraform Labs on February 15. The abovementioned stablecoins will be whitelisted from liquidity protocol Astroport as Alliance assets, with other liquidity pools such as TIA-LUNA, DYDX-LUNA, and more planned in the future.
If the proposal is approved after governance voting, TFL will collaborate with Astroport contributors to create a stableswap USDC-USDT pool and an ATOM-LUNA PCL pool ahead of adding the Alliance assets. A USDC-USDT liquidity pool doesn’t exist yet, and the current ATOM-LUNA pool is less capital-efficient.
Whitelisting LP tokens from pools containing USDC, USDT, and ATOM as Alliance assets is a major development. It will help offer better APRs within Cosmos without DEX swap fee, attracting a broad user base to Terra.
Users will contribute liquidity for these pairs and stake LP tokens on Station for LUNA rewards. It will provide benefits such as capital inflow to Terra and Cosmos ecosystems, new DeFi apps, trading volumes, new alliances, and low slippage.
Read More: Terra Luna Classic Forks Osmosis for LUNC and Astroport Developments
Prices Zoom in Response
Chris Amani earlier conveyed that they are willing to run the infrastructure for all chains on Cosmos under the Foundation business model, cutting down the massive costs. It will be a game-changer for Terra ecosystem tokens, likely bringing back utility and developers.
Terra (LUNA) prices jumped 10% in the last 24 hours, with the price currently trading at $0.74, with the possibility of extending to $0.78. The 24-hour low and high are $0.673 and $0.748, backed by a 150% rise in trading volume.
LUNC price skyrockets 15% with over 120% rise in trading volume. The price is currently trading at $0.000136, with a 24-hour high of $0.000138.
Meanwhile, USTC price skyrockets 38%, with the price currently trading at $0.0369. The 24-hour low and high are $0.0268 and $0.0371, respectively. Trading volume increased by 800% in the last few hours.
Also Read:
- XRP Attorney John Deaton Reveals Massachusetts Roots Amid Senate Run Possibility
- Cathie Wood’s Ark Invest Sells 214,068 Coinbase Shares Ahead Earnings
- Top Analyst Warns Bitcoin Correction For Next Four Days, Here’s Why
- CleanCore Strengthens Treasury With More Dogecoin, Eyes 1B Target
- FORD Stock Jumps 36% on Solana Treasury Plan As SOL Rally Dominates Crypto Market
- XRP, Solana, HBAR ETFs by Fidelity and Canary Gain DTCC Listing
- Coinbase Urges Court to Sanction SEC Over Missing Gensler Texts
- Breaking: $9T BlackRock Plans To Tokenize ETFs Following Bitcoin ETF Success
- SHIB Price Forecast as LEASH V2 Rollout Expands Cross-Chain — Is a 200% Rally Ahead?
- BNB Price Forecast as Binance–Franklin Templeton Deal Strengthens Path to $1,500
- Pi Network Price Wyckoff Theory Signals a Surge as One Whale Keeps Buying
- ETH Price Prediction As Bitmine and SharpLink Continue ETH Buying Spree- Analyst Predicts $7K Next
- AVAX Price Prediction as Avalanche $1B Treasury Gains Momentum – Is $55 in Sight?
