Earth is proposing $ 139 million for DailyCoin to DeFi for major new use cases

Terra, one of the growing DeFi ecosystems, wants to take advantage of the successes of Q4 in 2021 by expanding the use of DeFi. On January 6, he unveiled his game plan, UST Goes Interchain: Degen Strats Part Three.

In the new governance proposal, Terra intends to allocate $ 139.7 million to UST and LUNA to build five major DeFi projects to build “tremendous UST use cases”. The fund will be distributed between three and six months.

The decentralized Stablecoin goes to Interchain

Under the proposal, the fund would be used to expand the expansion of its UST stablecoin chain, Polygon and.

The introduction of decentralized cross-chain stablecoin (UST) would seek to take over centralized stable currencies (USDT and USDC) that have long dominated the crypto industry.

The community has welcomed the proposal in general with positive feedback on the proposal. If the proposal is exceeded;

• Tokens DeFi liquidity provider and market maker to receive $ 50 million deposit in UST (six months)
• Rari Fuse, an unauthorized lending and lending platform, would receive $ 20 million (six months)
• Aggregate Performance Receives $ 18 Million (Six Months) in Convex Finance
• OlympusDAO (OHM) decentralized reserve currency protocol would receive $ 1.45 million for 3 months
• Terra would expand Solana’s reach by helping $ 250,000 in UST to generate IN / UST bonds in InvictusDAO, a decentralized reserve currency.

Flipside On

• Terra has lost its position as Binance Smart Chain’s second largest challenging ecosystem.

Why You Should Care

By becoming the first stable decentralized currency for $ 10 billion in market capture, Terra’s proposal could increase TerraUSD’s market share.

MAGAZINE WOMAN

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