Altcoins News
By Dan Saada
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Twitter Handle Tai Panich provides more clarity on the usefulness of the bridge. In her own words:
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Don’t think people have talked enough about how convenient & useful Terra Bridge is–making it seamless to move from Ethereum/ERC20 Ecosystem to Terra Ecosystem; all on 100%…
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Before, I had to go to Kucoin (CeFi) to convert from USDT to UST and send to Terra station (DeFi world), to deposit UST into anchor protocol to earn the sweet 20% APY (that is…
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Now I can conveniently do it 100% DeFi way, from the comfort of Metamask - using Curve or Uniswap to convert from USDT to UST.
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I ended up using Uniswap V2 to convert from USDT to UST (Uniswap V3 doesn't have good liquidity yet, so rates are worse than V2 for now).
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Then using Terra Bridge, I can send UST from Metamask (Ethereum) to Terra station (Terra) conveniently, cheaply, and superfast.
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She concluded stated, it is 100% DeFi Living.
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Someone on a lighter tone stated: “Not just ERC20/Terra either. BSC/Terra too. Move away multiplanetary being. We are now all multichain apes.”
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An excited user stated: Zero fees (besides gas) to go from ETH or BSC to Terra. AVAX charges over $100 in fees for this same process.
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For clarity, Tai Panich is the CIO & Chief VC of @SCB10X Official, EE & Computer Science MIT, blockchain + crypto + fintech + deeptech enthusiast.
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To those DeFi feels like Greek, Latin, or an alien language, it is the process of lending your value for return on investment through decentralized exchanges.
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For borrowers, it provides equitable access to financial services. The good thing about DeFi is that Yield Farming makes it possible for investors to borrow and lend their…
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For those who are new to Terra, it is powered by Luna. It is an Algorithmic Stablecoin with anchor protocol for savings, mirror protocol for investments, and Chai + import for…
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