Express

Solana Announces Partnership with Terra to Build a High-speed Token Bridge

Dawn Wu

Summary: Solana, a high-speed single-layer blockchain, announces today that they are partnering with Terra to build a token bridge which brings stablecoins of Terra into Solana’s dapp ecosystem.

Solana, a high-speed single-layer blockchain, announces today that they are partnering with Terra to build a token bridge that brings stablecoins of Terra into Solana’s dapp ecosystem, according to an article of the Medium, which Solana shared on its Twitter.

Terra is a price-stable cryptocurrency based in South Korea. Solana hopes to expand its platform by attracting more applications that require stablecoins that Terra can offer, according to Coindesk. While at the same time, Terra will be able to profit from an enlarged customer base and more developer’s attention to support its global growth.

As stated by Decrypt, transfer between the two will use a mint-and-burn model grounded on smart contracts. Tokens from Terra can be burnt to mint stablecoins for Solana.

By Dawn Wu

Last Update:

Tags: ,,
Link: Solana Announces Partnership with Terra to Build a High-speed Token Bridge   [Copy]
  • Trump's "Big and Beautiful" Bill Passes: Biden and Harris Criticize, Financial Expert O... 5 days ago
  • Silicon Valley Giants, Trump Ally Launch 'Crypto Bank' Erebor, Aiming to Fill SVB Void 6 days ago
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 12 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 18 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 21 days ago
  • You need to login to comment.