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