{"id":390653,"date":"2022-01-07T04:15:06","date_gmt":"2022-01-07T01:15:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/139m-terra-proposal-to-bring-awesome-ust-use-cases-to-defi-projects\/"},"modified":"2022-01-07T04:15:06","modified_gmt":"2022-01-07T01:15:06","slug":"139m-terra-proposal-to-bring-awesome-ust-use-cases-to-defi-projects","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/139m-terra-proposal-to-bring-awesome-ust-use-cases-to-defi-projects\/","title":{"rendered":"# $139M Terra proposal to \u2018bring awesome UST use-cases\u2019 to DeFi projects"},"content":{"rendered":"

“# $139M Terra proposal to \u2018bring awesome UST use-cases\u2019 to DeFi projects <\/strong>”
\n<\/p>\n

Decentralized stablecoin issuer Terra issued an ambitious proposal to expand the interchain deployment of its UST stablecoin across five projects on Ethereum, Polygon, and Solana.<\/p>\n

Terra\u2019s Jan. 6 Research<\/a> post UST Goes Interchain: Degen Strats Part Three<\/em> provides details about how $139 million of UST and its native stablecoin LUNA would be utilized and on what platforms if the proposal is passed. <\/p>\n

Terra is a blockchain that supplies algorithmic stablecoins and LUNA has market cap ($28.5 billion).<\/p>\n

In each proposed deployment, Terra would deposit UST in varying amounts from $250,000 to $50 million to boost the stability of each of the new partner projects. The main aim is to \u201cbring awesome UST use-cases to Ethereum DeFi.\u201d A vote for governance participants to app<\/a>rove the proposal will be held at a later date.<\/p>\n

Terra founder Do Kwon made it clear in a Dec. 21 tweet<\/a> that he wishes UST to be the dominant stablecoin in the crypto market. The distribution aims to help Terra accelerate its efforts in growing its market cap. Currently only stablecoins BUSD ($14 billion), USDC ($43 billion), and USDT ($78 billion) have a higher market cap than UST ($10.3 billion).<\/p>\n

DeFi liquidity provider and market maker Tokemak on Ethereum would receive a $50 million deposit in UST for at least six months if the proposal passes.<\/p>\n

Permissionless lending and borrowing platform Rari Fuse would receive $20 million UST for six months. The funds would be deposited into three pools on Fuse to help UST become \u201ccheapest stable to borrow\u201d on Fuse.<\/p>\n

Yield aggregator Convex Finance on Ethereum would receive $18 million for 6 months. Terra would inject greater LUNA incentives for liquidity providers in several pools across the platform that use UST. Convex is one of the largest DeFi yield aggregators with a market capitalization of $1.9 billion.<\/p>\n

Decentralized reserve currency protocol OlympusDAO (OHM) is already partnered with Terra, and will be releasing gOHM, a wrapped version of OHM, on Terra. The proposal for Olympus includes a $1.425 million commitment to its $694 million treasury through $1 million in UST bonds to remain in the treasury \u201cforever\u201d and $425,000 in LUNA incentives for 3 months. <\/p>\n

\n

\u201cBond $1m UST with Olympus and 3,3 the OHM forever\u201d<\/p>\n

https:\/\/t.co\/eCDH9fG0Wt<\/a><\/p>\n

\u2014 OlympusDAO (@OlympusDAO) January 6, 2022<\/a><\/p><\/blockquote>\n