The Terra Ecosystem - a “layer 1” protocol armed with practical products, including a decentralised algorithmic stablecoin called $UST, that aims to eat at the enormously large payments market. $UST relies on a clever mechanism - a set of on-chain incentives - to maintain parity with the US Dollar - without relying on it, and is phenomenally cheaper and faster to use than traditional financial infrastructure.It is already being used by millions of people to pay for everyday items, but it is also on its way to become an important space for all things money in web3 including banking, savings, investing and more.
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🌊 Terra
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The Terra Ecosystem - a “layer 1” protocol armed with practical products, including a decentralised algorithmic stablecoin called $UST, that aims to eat at the enormously large payments market. $UST relies on a clever mechanism - a set of on-chain incentives - to maintain parity with the US Dollar - without relying on it, and is phenomenally cheaper and faster to use than traditional financial infrastructure.It is already being used by millions of people to pay for everyday items, but it is also on its way to become an important space for all things money in web3 including banking, savings, investing and more.