GM! 👋

Some time ago we added new collateral tokens and now it's time for a new synthetic asset!

The first new added asset is LUNA by Terra Money

We are going to start adding new synthetic assets soon. However, next time, we want to let you decide what asset will be added next 😎
To give you a choice, we will be creating polls on our Twitter account 🐦
Your opinion is very important to us! 🤗

What are synthetic assets?
Synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges. Synthetic assets have a form of the SPL-Token and can be freely transferred between wallets or used in other DeFi applications. Prices of all synthetic assets are provided by decentralized oracles built on top of the Solana blockchain ⚡

What is LUNA and Terra Money?
Terra:
The Terra protocol is a decentralized and open-source public blockchain protocol for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized oracle voting, the Terra protocol creates stablecoins that consistently track the price of any fiat currency 💵

Luna:
Token used for governance and mining. Users stake Luna to validators, who record and verify transactions on the blockchain in exchange for rewards from transaction fees.

If you would like to know more about this project, check out their website and Twitter.

---

Share on

Back to Blog