Since the lows of June 2021, the Crypto market has been on a recovery mode where coins are gaining momentum and some coins even breaking their ATH (all-time high). Coins like $LUNA, $SOL and $AXS are the top few performing coins over the past few weeks. You probably have seen $LUNA somewhere on CT given the recent hype.
In this post, I would like to share more on $LUNA and how it will continue to reach higher $ with the waves of incoming projects over the next few months.
Current State
Terra has two functioning projects currently, Anchor and Mirror protocols. I have written detailed articles on both of the protocols and they can be found here:
A quick summary of these two projects.
Mirror Protocol is a platform for synthetic assets that follow real-world prices and users can trade or farm on the platform.
Anchor Protocol is a saving and borrowing platform that offers fixed rates for depositors.
$LUNA can flourish as these projects require the demand of $UST, which is the stablecoin on Terra. The increases in demand of $UST leads to the burning of $LUNA, resulting in a lesser supply and thus a higher price of $LUNA. Check out this short and informative video on how Terra stablecoins work, How Does Terra Work.
In addition to these two projects, Pylon Protocol and Spectrum Protocol also launched recently and you can check them out here:
Pylon (IDO platform)
Spectrum (Yield optimizer platform)
Orion (Stablecoin bank platform)
Growth
With only a couple of projects on Terra, the TVL (Total Value Locked) on the ecosystem is around ~$4.89 Billion! (Taking TVL of Mirror, Anchor). I left the other projects out for now as there is double counting since these projects utilise Mirror and Anchor on their platform. However, we can see that almost $5 Billion worth of assets are on Terra and this will only continue to grow as more projects start to launch. I will share with you some of the exciting projects that are coming to Terra.
Loop Finance
Loop Finance is an AMM (Automated Market Maker) DEX (Decentralised Exchange) on Terra where users can participate in Liquitidy pools. In addition, Loop will introduce Loop Wallet for shopping and merchant payments.
Loop
Terraworld
Terraworld is a unique project that involves the NFT metaverse which aims to provide an online work environment for businesses.
Terraworld
Angel Protocol
*The gift that keeps on giving *
Angel Protocol focuses on charity work where it utilises the yields from Anchor Protocol to generate recurring donations. This project has strong support from Terra community where validators and projects have pledged to donate part of their revenue to Angel Protocol!
Currently does not have a website yet.
Spar Protocol
Spar Protocol is an asset management platform powered by Mirror Protocol. It is where users (Investors) can put their funds into Pools where Pool Managers (Fund Managers) can help to manage the funds through trading of assets on Mirror.
Spar
And Much more!!
Numerous projects will be released in the future! You can enjoy the full list of 50+ projects that were announced on Terra ecosystem here. It is going to be a wild ride when Tefi Season kicks in!
Closing Thoughts
Terra $LUNA is my highest conviction crypto asset and that is not just because of the projects that are launching but also the community that helps to drive awareness and encouraging users to try out the Terra ecosystem. Do take your time to research Terra and hope that this post can be a great intro for you into the World of Terra! Cheers :)
