through its platform. The firm has confirmed that it has enlisted the digital asset through its platform. The name of the particular digital asset is Terra (LUNA) that the Changelly platform has recently enlisted.
According to Changelly, Terra is now part of a huge family of cryptocurrencies that are already enlisted on the platform. At present, Changelly has more than 200 cryptocurrencies enlisted through its platform. Now Terra is among the list of these cryptocurrencies that the users on the Changelly platform have access to.
Following the enlistment, the users will be able to trade and exchange Terra with other cryptocurrencies that are already enlisted on Changelly.
Terra is known for being a blockchain that is application-specific. The particular blockchain has been developed and launched through the Tendermint consensus and the Cosmos SDK. The Terra protocol is known for deploying a suite of stabelcoins that are fiat-pegged and are algorithmic in nature.
The digital asset has been playing a huge and key role in the growth of an ecosystem within the decentralized finance sector. At present, some of the major networks in the decentralized finance sector Terra supports include Mirror Protocol, Chai, and Anchor.
For Terra, LUNA was introduced as the native governance and staking asset. When it comes to the utility of LUNA, it helps Terra in the absorption of stablecoins’ volatility that is powered by Terra. One of the major examples of such stablecoins is TerraUSD (UST).
The Changelly team is really excited to have been given the opportunity to work with Terra. The enlistment of the digital asset on the platform does not mean that the asset would only be there for trades and another staking process. It is a new partnership between the teams of Changelly and Terra.
Both firms will be working together to introduce more innovations and advancements in the cryptocurrency sector.
The Changelly team is super-excited about the opportunity of being able to work with Terra, which is one of the most prominent digital assets in the market. They are confident that their new partnership with Terra would go a long way.
The Terra team is also very excited to be enlisted on the Changelly platform. They are glad to have been given the opportunity to onboard such a large trading platform. They would be able to provide their contribution to the decentralized finance sector, making it a reliable and self-sustaining ecosystem.
Their collaboration with Changelly would eventually bring more exposure to the cryptocurrency as well as to Changelly. The user base for both networks is soon to increase given their recent collaboration.