Terra proposal aims to expand VAT stablecoin to 5 different defi protocols-Defi
Terra proposal aims to expand VAT stablecoin to 5 different defi protocols-Defi
On January 6, Terra Research announced a proposal to expand the StableCoin assets Terrausd (VAT) of the network of the network on a number of different protocols on polygon, Ethereum and Solana. The Governance Blog Post from Terra is discussing how the proposal to mobilize $ 139 million in VAT can strengthen "great application cases" in the world of decentralized finances (Defi).
Terra Research suggests to extend the range from terrausd to 5 protocols
At the time of writing, Terras Terrausd (VAT) StableCoin is the fourth largest US dollar-bound token among all existing stable coins. It is also the largest decentralized algorithmic dollar-bound coin with $ 10.4 million in VAT that are in circulation today. In addition, the market capitalization of the stable coin has increased by 21.4% in the past 30 days. Now the team behind the Terra network wants to increase the exposure of the stable coin compared to five different defi protocols on three chains.The author of the proposal, Ezaan of Terra Research, explains how the cross-chain-circuit VAT liquidity has increased significantly, and he thinks that adding more VAT to certain protocols will add to the DEF "Awesome Application Correct". The first mentioned VAT collaboration is with the Olympus Dao on Ethereum, Solana and Polygon. Essentially, Ezaan wants to enable VAT bonds and bind $ 1 million to Olympus forever.
"Follow posts in the Agora-Thread, even if VAT bonds are live," said Ezaan. "1 million bond transaction, two-week updates to VAT in the Olympus Dao Finance Ministry for two months, all three pair addresses if they exist and where they can join the farm."
Cooperation with Olympus Dao, Rari Fuse, Invictus Dao, Convex and Tokemak
In addition, Ezaan mentions the collaboration with Rari Fuse von Ethereum, Invictus Dao von Solana, Convex Finance of Ethereum and Tokemak by Ethereum.
The five concepts proposed by Ezaan include:
- Olympus dao: Activate the USD Bonds, 1 million USt bonds, 425k VAT over 3 months to Luna to get Gohm-E-Incentives on Terra, Solana, Polygon
- Rari security: 20 million VAT to set security pools for 6 months to boost the VAT credit recording
- Invictus dao: activate VAT bonds, $ 250,000 $
- Convex: $ 18 million over 6 months exchanged to Luna to get more votium incentives
- Tokemak: $ 50 million UST for 6 months to obtain extensive liquidity and toke. to farm
According to a series of comments on the Terra government proposal, most community members liked the idea. "Great ideas. Let us do it," said one person. "It's great to see ideas on how to extend the VAT to other L1 and how they have proven themselves so far," replied another member of the Terra community. "So far we do not see any disadvantages in the proposal and are already behind Frax at Convex. We should reach at least 100 million or be in Tokemak a little more to compensate for the forces."
The proposal for expanding the VAT follows that the stable coin in relation to the market evaluation becomes a larger decentralized stable coin than the DAI from Makerdao. In addition, three days before Ezaan's proposal, the co-founder of Makerdao, Rune Christensen, tweeted that the stable coins were VAT and MIM "solid ponzis" and would be worth zero at some point.
What do you think of the proposal of Terra to extend VAT to five more protocols on Ethereum, Solana and Polygon? Let us know your opinion on this topic in the comments below.
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