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As a powerful job Decentralized platform Provide users with first-class transaction services, Earth It has been announced that the market value of its UST stable currency has reached $10B. This good news can be seen as the second stage of continuous success maintained by the UST stablecoin ecosystem. When UST surpassed its rival company DAI to become the largest decentralized stablecoin project in the entire industry, it recorded its first amazing achievement.
According to the announcement, the market value of UST has witnessed one of the biggest gains in 2021, as it rose from a value of US$200 million at the beginning of 2021 to US$10B at the end of the year. Recently, in December, UST competed fiercely with DAI and finally left it behind and became the market leader in the stable currency field. DAI was launched in 2017 with a market value of approximately $9.4B and has a strong influence in this field.
The sudden increase in the market value of UST can be attributed to the popularity of the decentralized financial industry. Terra has become a strong player in the DeFi field, which has played an important role in advancing the value of UST. Stablecoins are very important to the DeFi field because they help investors’ liquidity management, mortgages, and income generation. The native currency of Terra blockchain, LUNA, also has a good performance in the field of digital assets. The price of the token has risen 15 times and its market value has reached 34 billion U.S. dollars.
Last week’s report showed that Terra surpassed Binance Smart Chain And ranked second in terms of total value lock (TVL) mechanism. The TVL module is used to compare DeFi operations that occur on multiple blockchain networks or a single DeFi project. Compared with the BSC of $17.3 billion, Terra has $17.9 billion in locked assets. The number one place is Ethereum, which has more than 162 billion US dollars of DeFi TVL. The most important DeFi project on Terra is the lending platform Anchor. The portal has $9 billion in TVL, which accounts for more than half of all DeFi operations on blockchain channels.
The Terra ecosystem allows users to securely deposit their UST assets into the Anchor protocol. These tokens are then pooled and loaned to interest-paying lenders. The accrued interest earned is paid to the user in proportion. For those willing to deposit funds, the annual rate of return is 20%. The report shows that nearly 3 billion US dollars of UST funds have been deposited on the Anchor portal for revenue. The decentralized Terra cluster may maintain its position in the market with its powerful and user-friendly trading interface.
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