In the new governance proposal, Terra is looking to provide $139.7 million in UST and LUNA to five leading DeFi projects to build “awesome UST use-cases.” The fund will be distributed between three to six months.
Decentralized Stablecoin Goes Interchain
According to the proposal, the fund would be used to expand the interchain deployment of its UST stablecoin across five projects which are built on Ethereum, Polygon, and Solana.
The introduction of decentralized cross-chain stablecoin (UST) would look to take on the centralized stablecoins (USDT and USDC) that have dominated the crypto industry for a long time.
The community has warmly received the proposal, with generally positive remarks about the proposal. If the proposal passes;
On The Flipside
Why You Should Care
Already becoming the first decentralized stablecoin to top $10 billion market cap, Terra’s proposal could increase the market share of the TerraUSD.
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Source: Cryptocurrency - investing.com
