THELOGICALINDIAN - Terra architect Do Kwon hinted at a approaching acquirement of 3 billion account of bitcoin to accumulation the affluence of the agreement in a contempo Twitter Space aggregate with bitcoin enthusiast Udi Wertheimer In the aforementioned Space Do Kwon explained the new mechanics that the Terra ecosystem is introducing in adjustment to use bitcoin as accessory for its flagship decentralized stablecoin UST
Do Kwon Directs the Terra Ecosystem to Bitcoin
Do Kwon, architect of Terra and Terraform Labs, fabricated some important announcements apropos the approaching of the Terra ecosystem and its tokens in a Twitter Space hosted by Udi Wertheimer. One of these announcements has to do with the admittance of new badge mechanics that booty into application some anatomy of bitcoin in the Terra ecosystem. In this regard, Kwon appear Terra is alive against bringing a anatomy of tokenized bitcoin to the Terra blockchain in the best decentralized anatomy possible.
Kwon additionally explained that with the admittance of bitcoin, UST would become a amalgam stablecoin, acceptance users to barter $1 account of UST for $0.99 account of BTC. This would finer acquiesce users to redeem BTC by application UST for a exceptional of 1%, about in the aforementioned way that LUNA is actuality acclimated appropriate now. Kwon antiseptic that these mechanics will be explained in the abreast approaching in a added abundant way.
When asked about why Terra chose bitcoin as a assets asset, Kwon stated:
Bitcoin Explosion
Kwon expects this new tokenized adaptation of bitcoin in the Terra ecosystem to become the de facto assets bill of abounding protocols congenital on top of the chain, accretion to be allotment of every acute arrangement appliance that holds any treasury. In ablaze of this, Kwon appear some numbers apropos the bulk of bitcoin Terra will acquirement in the abbreviate term. The Terraform Labs CEO declared the aggregation has a account to buy $3 billion account of bitcoin in the abbreviate appellation and appear that best of this bitcoin has not been bought yet.
Do Kwon assured by announcement that the protocol, through the Luna Foundation Guard, affairs to become a approved client of bitcoin for the above purpose.
What do you anticipate about the announcements fabricated by Do Kwon in Udi Wertheimer’s Space? Tell us in the comments area below.
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