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Stablecoins: Terra(UST) reveals liquidity plans; USD Coin(USDC), Tether have a lot going on

Last update 01.12.2021 11:10

While Tether [USDT] and USD Coin [USDC] are thought to be the go-to stablecoins in the crypto ecosystem, another coin wants to get to the top.

Stablecoins: Terra(UST) reveals liquidity plans; USD Coin(USDC), Tether have a lot going on

On 30 November, the official account for TerraUSD [UST] tweeted about a proposal to amp up the stablecoin’s liquidity on Ethereum, using a six month long plan.

In the official document, a user by the name of “ezaan” wrote,

“The ultimate goal is to have UST become the go-to interchain stablecoin.”

This process begins with deep UST liquidity on Curve Finance, Ethereum’s preferred AMM for stableswaps, and continues with finding the best use cases for UST on Ethereum like OlympusDAO, Rari Fuse pools, Convex Finance, and Tokemak to just name a few.”

Using DeFi protocols, the idea is to swap millions of dollars’ worth of UST to LUNA for incentives, or use the UST to farm CVX and CRV for a community pool.

It’s important to note that some major players have been named here.

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All Data
Coin Change(%) Price Volume (24h)
Bitcoin (BTC) 3.71 $72,084.86 $45.5B
Ethereum (ETH) 3.43 $4,038.91 $20.8B
XRP (XRP) 18.52 $0.727106 $4.4B
Solana (SOL) 1.58 $147.242060 $3.8B
Binance Coin (BNB) -2.22 $519.52 $3.0B
USD Coin (USDC) 0.03 $0.999697 $2.4B
Dogecoin (DOGE) 0.96 $0.174374 $2.1B
Shiba Inu (SHIB) -2.92 $0.000033 $1.7B
Floki Inu (FLOKI) -7.67 $0.000267 $1.3B
Avalanche (AVAX) 13.16 $47.596296 $1.2B
All Data