{"id":201590,"date":"2021-10-16T18:00:20","date_gmt":"2021-10-16T17:00:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=201590"},"modified":"2021-10-18T05:19:03","modified_gmt":"2021-10-18T04:19:03","slug":"over-160-projects-will-launch-on-terra-luna-early-next-year","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/over-160-projects-will-launch-on-terra-luna-early-next-year\/","title":{"rendered":"Over 160 projects will launch on Terra (LUNA) early next year"},"content":{"rendered":"<p>Terraform Labs, the South Korean company behind the blockchain project Terra (<a href=\"https:\/\/cryptoslate.com\/coins\/terra-luna\/\">LUNA<\/a>), continues focusing on advancing the developer activity on the network.<\/p>\n<p>Meanwhile, the true impact of the network\u2019s cardinal upgrade, dubbed <a href=\"https:\/\/cryptoslate.com\/all-systems-go-as-columbus-5-launches-on-terra-luna-without-a-hitch\/\">Columbus-5<\/a>, is yet to unravel, as the launch of <a href=\"https:\/\/cryptoslate.com\/increasing-ibc-transactions-show-cosmos-atom-ecosystem-is-booming\/\">Inter-Blockchain Communication<\/a> (IBC) protocol and <a href=\"https:\/\/cryptoslate.com\/new-bridge-connects-binance-smart-chain-tokens-and-nfts-to-ethereum-and-solana\/\">Wormhole<\/a> support for Terra approaches.<\/p>\n<h2>160 more projects on Terra<\/h2>\n<p>Columbus-5 successfully launched in late September and, according to the network\u2019s developers, Terra\u2019s ecosystem is on the verge of an explosive expansion.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Terra&#39;s ecosystem sprint into the end of the year is gonna be a sight to behold. <\/p>\n<p>Bonus &#8212; IBC and Wormhole go live next week \ud83d\ude09 <a href=\"https:\/\/t.co\/YWBXja46p4\">pic.twitter.com\/YWBXja46p4<\/a><\/p>\n<p>&mdash; Terra (UST) ? Powered by LUNA ? (@terra_money) <a href=\"https:\/\/twitter.com\/terra_money\/status\/1448748387122171911?ref_src=twsrc%5Etfw\">October 14, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cNow that Columbus-5 is live, more than 60 projects are preparing to launch in the next six to eight weeks and more than 100 have recently announced plans for the end of the year or early 2022,\u201d Do Kwon, co-founder and CEO of Terraform Labs, told <a href=\"https:\/\/asiamarkets.com\/boom-time-for-terra-network\/\"><i>AsiaMarkets<\/i><\/a>.<\/p>\n<p>In the interview, Kwon continued explaining how the upgrade, which opened up countless avenues for the ecosystem\u2019s expansion, is about to boost Terra\u2019s stablecoin use case while putting upward pressure on the native token\u2019s value.<\/p>\n<blockquote><p>\u201cMore projects on Terra diversify and amplify the demand for <a href=\"https:\/\/cryptoslate.com\/coins\/terrausd\/\">UST<\/a>, accelerating the expansion of the stablecoin supply and accruing value to LUNA holders,\u201d Kwon said.<\/p><\/blockquote>\n<h2>What's in the stars for UST?<\/h2>\n<p>Terra\u2019s native stablecoin, UST, is currently the fifth-largest stablecoin by market cap.<\/p>\n<p>While leveraging Terra\u2019s utility token, LUNA, the algorithmic stablecoin maintains a nearly equal value to the US dollar.<\/p>\n<p>\u201cRegulatory action against centralized stablecoin incumbents like USD Coin (<a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a>) and Tether (<a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">USDT<\/a>) has reinvigorated the emphasis for a decentralized stablecoin in crypto like UST,\u201d Kwon pointed out.<\/p>\n<p>\u201cAs custodial stablecoin models do not scale well and serve as hubs of risk in a decentralized financial stack, we expect increased adoption of decentralized stablecoins to increase in the coming months and years,\u201d he clarified.<\/p>\n<h2>IBC and Wormhole<\/h2>\n<p>The integration of Inter-Blockchain Communication (IBC) protocol, is set to open Terra up to a myriad of dApps in the <a href=\"https:\/\/cryptoslate.com\/cryptos\/cosmos-ecosystem\/\">Cosmos (ATOM) ecosystem<\/a> while enabling UST to seamlessly hop between chains.<\/p>\n<p>IBC facilitates sovereign chains to connect and communicate with each other, allowing the transfer of tokens between Cosmos and other IBC-compatible blockchains.<\/p>\n<p>\u201cSimilarly, Wormhole is a cross-chain bridge to Solana (<a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">SOL<\/a>), Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>), and <a href=\"https:\/\/cryptoslate.com\/defi-activity-on-binance-smart-chain-increased-18228-since-2020\/\">Binance Smart Chain<\/a> (BSC), that enables Terra assets like UST to be seamlessly ported to some of the largest chains by TVL and users in the entire industry,\u201d Kwon added, underscoring the importance of the coming bridge, which is expected to significantly reduce friction for UST moving from one blockchain to another.<\/p>\n<p>\u201cWe fully expect the demand for UST in cross-chain environments to accelerate the expansion of the UST supply further, potentially reaching the $10 billion market cap mark by year\u2019s end,\u201d he added, offering an ambitious outlook, considering that <a href=\"https:\/\/cryptoslate.com\/cryptos\/stablecoin\/\">stablecoins<\/a>\u00a0current $2.74 billion market cap.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terraform Labs, the South Korean company behind the blockchain project Terra (LUNA), continues focusing on advancing the developer activity on the network. Meanwhile, the true impact of the network\u2019s cardinal upgrade, dubbed Columbus-5, is yet to unravel, as the launch of Inter-Blockchain Communication (IBC) protocol and Wormhole support for Terra approaches. 160 more projects on [&hellip;]<\/p>\n","protected":false},"author":699,"featured_media":201570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,37,76736],"tags":[76128,76932,76931,76824,72860,76930],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Over 160 projects will launch on Terra (LUNA) early next year<\/title>\n<meta name=\"description\" content=\"Terraform Labs, the company behind the blockchain project Terra, continues focusing on advancing the developer activity of the network.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/over-160-projects-will-launch-on-terra-luna-early-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over 160 projects will launch on Terra (LUNA) early next year\" \/>\n<meta property=\"og:description\" content=\"Terraform Labs, the company behind the blockchain project Terra, continues focusing on advancing the developer activity of the network.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/over-160-projects-will-launch-on-terra-luna-early-next-year\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-16T17:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-18T04:19:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/terra-luna.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/over-160-projects-will-launch-on-terra-luna-early-next-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/over-160-projects-will-launch-on-terra-luna-early-next-year\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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In her Ph.D., she focused on the diffusion and adoption of new technologies. Her research on the spread of technological innovation in ancient societies led to a modern-day fascination with crypto and it\u2019s real-time evolution. She is currently based in Berlin immersed in the vibrant scenes of both Crypto and Techno.","url":"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/201590"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/699"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=201590"}],"version-history":[{"count":6,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/201590\/revisions"}],"predecessor-version":[{"id":201687,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/201590\/revisions\/201687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/201570"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=201590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=201590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=201590"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=201590"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=201590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}