- The Columbus 5 upgrade has attracted decentralized application projects to the Terra ecosystem, and new developments are lined up.
- Non-oracle-based perpetual options arrive on Terra, powered by Antimatter.
- Terra flagship projects Orion Money, Anchor Protocol, Mirror Protocol and Pylon Protocol fit together to create superior products for competing blockchain networks.
Terra's ecosystem upgrade has attracted Antimatter, a decentralized finance protocol. The decentralized application powers non-oracle-based perpetual options on Terra.
Decentralized derivatives and options products to boost ecosystem growth
Columbus 5 upgrade has hauled Terra's tokenomics and made it lucrative for dApps with Web3 infrastructure to launch in the ecosystem. The upgrade has restructured Terra in a few key ways that modify the economics on the supply side.
The changes simplify the design of Terra and create a tighter correlation between UST (stablecoin of the Terra ecosystem) and LUNA.
Earlier today, Terra announced that Antimatter, a DeFi protocol, will support non-oracle-based perpetual options contracts using LUNA.
1/ Pleased to announce that @antimatterdefi will be supporting non-oracle-based perpetual options using Terra assets on Columbus-5! https://t.co/khNL3Pj4ct— Terra (UST) Powered by LUNA (@terra_money) October 12, 2021
This update is key to LUNA holders since there is a boost in the utility of the token. Users will buy and redeem call and put options without a set expiration and use Terra assets for risk-hedging purposes.
Options are considered one of the most effective tools to boost liquidity and promote the efficiency of Terra's stablecoin UST and LUNA.
Another exciting development in Terra is related to flagship projects Anchor Protocol, Orion Money, Mirror Protocol and Pylon Network. These four projects fit together to compete with superior products on other blockchain networks.
Anchor provides low-volatile yields on Terra stablecoin deposits, Orion is the liquidity aggregator, Mirror enables users to issue synthetic assets that track the price of real-world assets, and Pylon offers a suite of savings and payment products in DeFi.
Together these projects compete with DeFi apps on Ethereum, Solana and other blockchains.
The Columbus 5 upgrade and the arrival of projects that boost LUNA and UST's utility have brought Terra neck to neck with the Shiba Inu token. SHIB witnessed a massive rally over the past two weeks, driving the SHIB price over 120% higher within a week.
Terra is ranked twelfth in terms of market capitalization according to data aggregator platform CoinGecko. The gap between the market cap of the two assets is currently less than $100 million.
Natalie Luu, a partner at Lightspeed, commented on Terra's explosive growth. Luu tweeted
The 4th largest smart contract platform by TVL is @Terra_money and Terra's ecosystem has surged to 100+ projects— Natalie Luu (@natluu) October 11, 2021
I'll be interviewing Do @stablekwon live on @TwitterSpaces Weds Oct 13th @ 6PM PT / 9PM ET. Tune in live for the latest Terra projects, NFTs, proposals & more!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
Ethereum whales turn bullish with Shanghai upgrade less than a month away
Ethereum (ETH) whales holding between 1,000 and 10,000 ETH have been scooping up the altcoin consistently for a week. With the countdown to the Shanghai upgrade and the ETH token unlock event, there is a spike in Ethereum demand among retail investors.
Ripple price to close the week with a bang as next week will be crucial for another 20% profit
Ripple price is closing this week with very profitable numbers, even if a fade is ongoing. The fade occurred after bulls received a firm rejection at $0.50 and have been trading lower from that level since. If bulls can keep their hands on this momentum and the Relative Strength Index (RSI) is not overbought, at least some 20% profit is being prepared for next week.
Will Cardano price advance as analysts call it one of the favorite altcoins next to EOS and COLT to pop?
Cardano (ADA) price is making the cut and has been shortlisted by several analysts that have put ADA in their top altcoin, primed to explode to the upside soon. ADA is flirting with a second week of gains and could recover its attempt to hit $0.415 as a crucial level for any further uptrend or downtrend.
Is the new partnering-up strategy the right way for Vechain price to avoid a 30% correction?
Vechain (VET) price had a busy week as several new partnerships were announced. Next to integrating with Dappradar to promote cross-chain visibility, the partnership with Boston Consulting Group might be the one that draws the most attention. Vechain price though is not taking this news in a good way and rather is at risk of tanking further.
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?
Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.