Terra finally launches on Thorchain
Why is this a big deal?! Let’s delve into it.
Much of this information is from one of the Thorchain comms team on Twitter. So I’m basically sharing screenshots of his analysis and adding my thoughts. Let’s go.
I’ll be honest with you here, I don’t know much about Luna other than it is burnt to mint UST which is a supposed decentralized algorithmic stable coin, at least far more decentralized than USDT and BUSD, which was why it gained so much attention and traction in the first place.
Most of us saw how metamask mistakenly restricted users by their IP addresses a couple of weeks ago, it makes me think can Tether also do the same? Or Busd? If governments ask them to?
It will be a disaster to have the most used and owned stable coin in existence centralized. It’s so bad it’s like a ticking time bomb. Imagine your USDT or BUSD gets frozen one day or by mistake? UST fixes this.
Okay granted, in this part, he obviously has no idea about HBD, moving on, he has a point, like I already explained, LUNA solves decentralized algorithmic stable coin, Thorchain solves decentralized liquidity protocol, a match made from heaven! Or Valhalla!
This is where it gets interesting
Welcome to the Thorchain liquidity black hole
And here we go guys, after seeing all these screenshots I figured that I could have just shared the link to the tweet but my plan was to leave a commentary of my opinion beneath each screen shot. But alas, I was taken away in amusement as I was posting the images and re reading the thread.
What baffles me is how such vital information is stored in a centralized database that could be censored and deleted at anytime. Plus I know for a fact that a of people around here don’t use Twitter and will appreciate this information.
If you’ve been wondering why Rune has been doing numbers lately, wonder no more, here’s your answer!
Few hours ago, Terra was launched on Thorchain and UST and Luna have begun trading. History is being made today, the world of crypto and decentralization just got a face lift. I can’t contain my excitement.
Now, wen TLeo on Thorchain? @leofinance
Let’s put decentralized social protocol Hive on decentralized exchange through Leofinance. 🤩
For more information visit this link
https://thorswap.medium.com/terra-luna-on-thorswap-earn-yield-trade-cross-chain-assets-856676918e10