The public chain Terra ecological development organization Luna foundation guard (LFG) announced on the previous (9) day that it would destroy 4.2 million Luna tokens to create 418 million ecological stability currency UST. The fund was used to inject into the curve agreement in exchange for equivalent bitcoin as the UST system reserve. LFG said that because of the high demand of UST, a large amount of ust was injected to maintain the high liquidity of its stable currency pool.
At present, according to coinmarketcap data, the market value of the stable currency ust has surpassed shibainu (Shib), ranking 14th in the cryptocurrency market and 4th in the stable currency, second only to usdt, usdc and bus. At the same time, the market value also exceeds Dai, becoming the top of the market value of decentralized stable currency.
Defi lock up volume increased significantly.
According to defillama data, the current lock volume of Terra chain has reached US $26.39 billion, second only to US $111.19 billion of Ethereum, of which the lock volume of anchor agreement on the chain is as high as US $12.73 billion, and the second place is US $8.89 billion of node pledge agreement Lido.
Due to the decline of market currency price, the monthly lock volume of most public chains decreased, but the ecological chain of Terra chain showed the opposite change. The lock volume increased by 78.76% in a single month. The market interpreted that the US $1 billion capital invested by Sanjian capital and jump crypto at the end of February brought market confidence. From the lock volume of US $15.72 billion in mid February, Significantly increased to the current US $26.39 billion.
Do Kwo, founder of Terra, said in an interview a few days ago that at present, he plans to purchase a large number of BTCs as ust reserves to ensure its value and security. The goal is to defeat micro strategy and become the company holding the most bitcoin.
Post time: Mar-14-2022