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Luna has literally no reason to exist besides UST (and other currencies like EUT) Seriously. Without Terra it's basically just a carbon copy of BSC with more validators, slower, and not backed by a CEX megacorp.
SOL and UST added to SwissBorg this week. Interestingly, you can yield up to 18.5% directly on UST in app. Whilst it doesn't quite match up to Anchor, it's a much more linear route to the high APY exposure without the hassle of buying luna burning Luna minting UST then migrating to anchor. I'd expect to see a fair amount of volume on this given the USDC and EUT yields are lower and theres no yield on GBP as yet.
It is worth noting that, when claiming staking rewards on LUNA's Terra Station, not all rewards will be in LUNA or UST. For example, I am now the proud HODLer of 119 $KRT (Korean Won), 0.00038 $EUT (Euro), and my personal favourite, 0.000025 $CAT (Canadian Dollar). So you might say I am a bit of a crypto forex trader now.
Does anchor plans to put EUT like UST?
On a side note, do you know if there is some protocol similar to Anchor where you can lend out other stablecoins such as EUT?
Terra ecosystem has a ton of stable coins including EUT (euro) and KRT (Korean won).
Like Luna, which has UST, EUT etc.? Algorand is also trying to do something similar with Algofi.
UST, EUT, KRT and other Terra algo-based stablecoins is the best option, by far. Limitless ability to grow, and truly decentralized, so far less risk of government regulation. No claim of any fiat backing. Simple, clean, and less risky…save for the death spiral risk, but with Chai real life use and continued growth that should soon be next to impossible. Trading government overreach for technical risks here. Net it’s a win. USDC or anything fiat backed has more inherent risks, not just of default but of regulation, frozen funds, and a lot more.
Is F regarding algorithmic “stablecoins” like UST, EUT, etc? if so that’s troubling as there is really no central organization to regulate, just the algorithm once it’s out in the wild.