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The Total Value Locked on Terra Surpasses $20 Billion
Summary: According to data from DeFiLlama, the total value locked on Terra moved up 55% over the last seven days to hit $21 billion, making it the second-largest decentralized finance ecosystem behind only Ethereum. Terra’s rise saw it surpass the value locked on the Binance Smart chain, which over the last week moved up 3.7% to ...
According to data from DeFiLlama, the total value locked on Terra moved up 55% over the last seven days to hit $21 billion, making it the second-largest decentralized finance ecosystem behind only Ethereum. Terra’s rise saw it surpass the value locked on the Binance Smart chain, which over the last week moved up 3.7% to $17 billion.
Terra is an open-source blockchain payment platform that accommodates algorithmic stablecoins, the largest one being TerraUSD (UST). It uses a Proof-of-Stake (PoS) consensus algorithm, and its native token LUNA is “used in the issuance of stablecoins (TerraSDRs), as a price stability mechanism, as well as for staking and network governance.”
By Amy Liu
