XDEFI Wallet announces liquidity program on Pylon within Terra integration

terra

XDEFI Wallet, a high-speed, scalable browser wallet, announced an integration with Terra (LUNA/USD), Invezz learned from a press release. By TVL, Terra is the fourth biggest blockchain ecosystem. The integration is now live to all XDEFI Wallet users.

Émile Dubié, CEO and cofounder of XDEFI Wallet, said:

I believe that UST serves a unique purpose as a decentralized stablecoin and will become a key component of the crypto ecosystem. Terra’s killer app is its accessible and UX-focused environment that caters for wider web3 adoption. It is truly exciting to see how Terra has developed as a Layer 1 and to see projects flourishing around UST.

LUNA absorbs Terra stablecoin volatility

Terra offers a suite of algorithmic fiat-pegged stablecoins. The programmable Layer 1 blockchain protocol’s native token absorbs short-term stablecoin volatility. Terra has over $8.6 billion in TVL, while LUNA reached $18 billion earlier this year. In the next 1-2 months, over 60 projects are ready to launch on Terra, to be joined by another 100 by early next year.

Do Kwon, CEO and cofounder of Terra, said:

We’re thrilled to welcome XDEFI as a non-custodial wallet supporting the Terra ecosystem. XDEFI integrating Terra provides LUNAtics with one of the fastest and most user-friendly multi-chain wallets in the industry, including a customizable NFT display which is soon to feature Terra’s booming NFT market.

XDEFI Wallet also supports Bitcoin (BTC/USD), Ethereum (ETH/USD), Polygon (MATIC/USD), and several other blockchains.

XDEFI to set up liquidity program on Pylon Protocol  

XDEFI Wallet will also set up a liquidity program within the framework of the Terra integration on Pylon, a suite of DeFi savings and payments products backed by user deposits building on Terra’s Anchor Protocol and other yield-generating protocols.

Woojin Lim, cofounder of Pylon Protocol, said:

Our protocol is excited to partner with XDEFI Wallet to open up Pylon Pools on Pylon Gateway, Terra’s premier launchpad, and introduce yield-based deposit contract pools. We’re looking forward to working together in growing Terra’s ecosystem.

Half of the funds raised via Pylon will be invested in early-stage Terra ecosystem projects. The community will vote on fund allocation.  

The post XDEFI Wallet announces liquidity program on Pylon within Terra integration appeared first on Invezz.

Publication date: 
10/28/2021 - 14:00
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