THELOGICALINDIAN - Terra and Harmony are abutting armament to accompany accumulation acceptance to DeFi
Terra and Harmony accept appear a full-stack partnership.
Terra and Harmony Link Up
True to our cross-chain and interoperability vision, today we’re announcement a abysmal affiliation and affiliation with Terra, a ample and growing ecosystem focused on programmable money and added banking primitives.
Stephen Tse, Founder of Harmony said the following:
“We are aflame to assignment with Terra to abide our adventure of architecture in a multi-chain future. Terra and Harmony are bridging to body a active cross-chain accounts ecosystem with UST stablecoin, ONEAnchor anchored amount lending, and our accessible $1M Hackathon. We attending advanced to the able abeyant of this partnership.”
Terra’s Co-founder and CEO Do Kwon added:
“Terra is aflame to aggrandize our growing portfolio of DeFi articles to assorted chains and alive with Harmony to accompany UST and Anchor to addition growing ecosystem. We attending advanced to seeing new developer innovations for multi-chain DeFi.”
The Partnership Details
UST Stablecoin on Harmony
Harmony will be chip to the Terra Shuttle Bridge. This paves the way for UST to drift to Harmony and to be acclimated on applications in the Harmony Ecosystem. As a stablecoin with advanced acceptance (currently #5 by bazaar cap), the opportunities for use are bottomless and the account to the Harmony association can’t be underestimated. One use of a stablecoin is that it opens up opportunities for safer yield, which brings us to ONEAnchor. Many Harmony applications such as davinci.gallery (NFT marketplace), Harmony Crypto Punks, and added dApps will add abutment for payments application UST.
Another affection is that the Shuttle arch will alleviate cross-chain clamminess for Harmony users via UST. Using Terra Bridge, Harmony users can seamlessly anchorage UST amid Harmony, Terra, Ethereum, Binance Smart Chain, and the Cosmos ecosystem of application-specific blockchains, introducing them to a advancing inter-chain DeFi environment.
ONEAnchor, Stable Yield Product on Harmony
Anchor is a accumulation artefact that aims to accept ample address alfresco the apple of crypto natives. ONEAnchor is accumbent to Harmony’s eyes of bringing millions of bodies to decentralized accounts and we are actual aflame to be accommodating on this avant-garde Defi product.
More capacity will be provided on back ONEAnchor will be accessible for users, absorption rates, and a bright tutorial for how Harmony association associates can booty advantage of this advocate artefact on Harmony.
More capacity will be provided on back ONEAnchor will be accessible for users, absorption rates, and a bright tutorial for how Harmony association associates can booty advantage of this advocate artefact on Harmony.
Terraform Labs Support
For developers architecture applications on Harmony that advance UST, Terraform Labs will accommodate abutment via aegis audits and grants. More capacity will chase and a action for developers who ambition to booty advantage of this benefit.
Bridging Wall Street to Web3 Hackathon
Harmony will anon be announcement a hackathon with up to $1M in prizes and berry funding, focused on web2 developers in the banking casework industry. In affiliation with Terra, we will be allegorical a alternation of challenges for developers to body applications utilizing UST on Harmony.
About Terra
Terra is an application-specific blockchain congenital on the Cosmos SDK and Tendermint consensus. The Terra agreement deploys a apartment of algorithmic, fiat-pegged stablecoins basement a advancing DeFi ecosystem like Anchor and Mirror Protocol. LUNA, the built-in staking and babyminding asset of Terra, absorbs the concise animation of Terra’s stablecoins, with Terra’s stablecoin (e.g., UST) appeal a action of appeal for Terra’s DeFi ecosystem.
Learn more:
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About Harmony
Build on Harmony, run on all chains.
Harmony is your accessible belvedere for assets, collectibles, identity, governance. Be the ONE to arch to all blockchains.
Harmony is an accessible and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction certitude and 100 times lower fees. Harmony’s defended bridges action cross-chain asset transfers with Ethereum, Binance and added chains.
Visit the website for added information.
Got an idea? Build it on Harmony and Apply for a Grant.
Learn more:
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For added information, acquaintance Dan Edelstein ([email protected]).
