Vladislav Sopov
Do Kwon, CEO and Founder of Terraform Labs, provides an update on the status of Terra’s cross-chain system
contents
- Terra supercharges “easiest way to move funds into crypto”
- One ecosystem, multiple bridges
Cross-network bridges are designed to seamlessly move value between heterogeneous blockchains. They make DeFi strategies (trading, yield farming) more flexible and cost-efficient.
Terra supercharges “easiest way to move funds into crypto”
Do Kwon, CEO and co-founder of Terraform Labs, the software development team behind Terra’s blockchain (UST), posted an update on Terra’s bridge ecosystem on Twitter.
https://t.co/y4ZajhEcql now supports @avalancheavax @solana @osmosiszone @FantomFDN @MoonbeamNetwork
The easiest way to move funds in crypto
— Do Kwon 🌕 (@stablekwon) April 12, 2022
According to his post, Terra users can now transfer values to Avalanche (AVAX), Solana (SOL), Osmosis (OSMO), Fantom (FTM) and Polkadot’s DeFi platform Moonbeam.
With this rich toolkit of integrations, Terra’s ecosystem is evolving into the easiest way to move funds in the cryptocurrency space, concludes Mr. Do Kwon.
Also, he has attached a screenshot to show that it is also possible to transfer funds to Harmony (ONE), Injective Protocol (INJ), Secret (SCRT) and Cosmos (ATOM).
One ecosystem, multiple bridges
When answering questions about this bridge’s technology, Do Kwon recommended treating it like a frontend for the Wormhole multi-blockchain bridge platform.
During the transaction, UST holders can choose the bridge module to use; Wormhole, Axelar and Shuttle Bridge are available at the same time.
In April 2022, the Terra team made headlines with its super-aggressive Bitcoin (BTC) buying initiative.
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