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Terra is planning a huge expansion, which includes 160 projects

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Terra ecosystem
Source: Shutterstock, karnoff

Terra Company, which is behind the LUNA token, announces big plans for 2022. The network plans to launch more than 160 projects.

Terra will work on usability launching more than 160 projects

Terraform Labs is a South Korean company behind Terra blockchain. He plans to work significantly on the usability of the ecosystem over the next year launching more than 160 projects.

Among other things, we received a significant update in September called Columbus-5. With this project, the launch of the Inter-Blockchain Communication protocol is approaching, as well as Wormhole support for the Terra blockchain. According to the network developers themselves, it is a project Terra ready for a huge explosion of usability and the associated increased popularity.

“Now that Columbus-5 is up and running, more than 60 projects are being prepared for launch in the next six to eight weeks, and more than 100 projects recently announced plans for the end of the year or early 2022,” said Do Kwon, CEO and co-founder of Terraform Labs.

CEO Kwon did not spare optimism. According to him, the update opens up countless opportunities for ecosystem expansion. Of course, significant support for the LUNA a token also remains stablecoin UST.

“More projects on Terra are diversifying and increasing the demand for UST, accelerating the expansion of the stablecoin offering and increasing value for the LUNA token heater.”

News for stablecoin UST

UST is currently the fifth largest stablecoin by market capitalization. In general, this stablecoin uses the LUNA token and maintains a stable value at the level $ 1.

“Regulatory measures against centralized stablecoins such as USDC and USDT have revived the emphasis on decentralized stablecoin, such as UST. As custodial stablecoin models cannot be scaled well and serve as risk centers in a decentralized financial pool, we expect the adoption of decentralized stablecoins to increase in the coming months and years,” said Kwon.

What is Terra?

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