XDEFI Wallet launches liquidity program as it integrates Terra

XDEFI Wallet, a browser-based service for Decentralized Finance DeFi and NFT assets, now officially supports the layer-1 blockchain protocol Terra on its platform. This new development comes, following several weeks of testing and development.

Now with the integration of Terra, the platform is now supporting no fewer than 9 blockchain networks including Bitcoin, Polygon, and Ethereum. Furthermore, it has indicated interest in incorporating Avalanche, Solana, and Arbitrum in the near future.

Earlier in October, XDEFI launched their public cross-wallet extension onto Google Chrome’s web store, stating its clear intention of enabling easy-accessibility for the browser’s users.

Also, recall that in late September, XDEFI raised some amount nearing $6 million from a recognised number of venture capital VC crypto firms including CoinGecko, Mechanism Capital, Alameda Research, and some private individual investors.

Speaking about the benefits inherent in Terra’s native algorithmic stablecoin TerraUSD (UST), co-founder Émile Dubié shared his belief that UST serves a unique purpose as a decentralized stablecoin and will definitely go on to also become a key component of the crypto ecosystem.

XDEFI further revealed plans to create a liquidity program on Terra, hoping to do so, in partnership with DeFi protocol Pylon. The program will be supporting debut projects on the Terra ecosystem.

According to analytical data from DeFiLlama, the Terra blockchain have a total value locked of $9.75 billion across eight assets, the most popular of which are Lido Finance, Anchor Protocol, and decentralized blogging platform Mirror who record $2.95B, $3.94B, and $1.27B, respectively.

Do Kwon, who is both the CEO and Co-Founder of Terra, also expressed his excitement about the impact that XDEFI is likely to have on Terra ecosystem.

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Mayowa Adebajo

Mayowa Adebajo is a fintech enthusiast with a decade-long experience writing news stories and creating content generally. When he's not writing, he's either talking politics or discussing sports.

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