YSK: UST & DAI are backed by trust dependent collateral that contracts during volatility/uncertainty. A mix of TDC with utility driven collateral where the latter is increased through market forces to create a self balancing mechanism that ensures backing is the key innovation Vader Protocol brings
isnt it theoretically possible to only trade on Terra's Ecosystem? with Terra Station you have mirrors of alot of cryptocurrencys and you can stake your UST on Anchor. did i miss something or? Lets say i buy 1600UST. now i can buy every crypto i want in mirrored form (mETH,mBTC etc..). Is there a big risk involved? and then stake the money you dont use with Anchor Earn on Terra Station?
Osmo liquidity providers and stakers qualify for all sorts of airdrops as well. The LUNA/OSMO and LUNA UST pools are great. If you worry about Impermanent loss just buy Luna every day with your OSMO rewards. It's virtually feeless.
Exactly. Just look at what happened with UST in May. Crashed with the market and was only saved by the devs. I have a small bag on Anchor protocol but I'm mostly on USDC, first I want to see what's the behavior in a prolonged bear market.
UST's single purpose is to be the world's most useable and free form of money there is. Through Anchor it provides the world's most attractive risk-adjusted return at 20% APY. Smart contract risk and Depeg risk can be mitigated by live insurance protocols - InsurAce - Riskharbour - Unslashed - Nexus Mutual - Bridge Mutual. Nothing currently compares and it can't be stopped or censored. (end shill lmao)
I think it needs to be split for defi/dex when it comes to stablecoins, if you are just holding for yield and aren't planning on trading it for another crypto then I probably think UST is where its at. The issue is on dex the liquidity for trade pairs isn't there with UST, so I usually have to settle for something like USDC in that case.
The Terra Protocol - UST - maximizes yield potential while balancing platform risk - integrations are popping up like hot cakes - surpassed decentralized competitor DAI - reached record high marketcap It's an algorithmic stablecoin - different to asset backed coins - 1 UST redeemable for $1 worth of Luna directly interacting with protocol; destroying the UST and minting Luna in the process - $1 of Luna can be burnt to mint 1 UST; this is the peg.
It’s still only an assumption that people will rotate to Anchor’s UST seeking refuge from a bear market since we still haven’t had a prolonged bear market. I am aware of a few people that keep their reserves in UST to buy dips, while earning decent yield. I wouldn’t consider it a main Defi strategy since crypto exposure will ultimately lead to higher returns.
Let's you had 100k USD to work with and you didn't need to live off it. What would you do? Some of these sound excellent with the 19% APR like UST but that's still peanuts compared to just holding BTC long term for example. Is this something you aim to do in bear markets?
So you'd make that much money, then let it rot in a bank to inflation? I would definitely put SOME there but most of it would be rolled into stablecoin ( UST for 19%, or any others for 8%+) and live off the interest at lower risk than yield farming.
Play around with Terra station (i just got into this pleasant rabbithole myself) and check out Anchor protocol and Mirror protocol. Im now contemplating whether i should just stack LUNA, or even that out with UST so i can get best of both worlds. Mirror protocol is particularly interesting for me. You can trade equities like Apple, Amazon, Google, Tesla stocks using your UST Here’s a pretty good sunmary video of the Terra ecosystem, think you’ll like it : https://youtu.be/aHTAbrk-auQ
Makes sense, just like u/velocipedic's comment does. Guess I could just stick with what I already do in CoinMarketCap. I was looking for something that would show my UST balance without having to log into the account via browser, since I don't think the Anchor or Terra Station mobile apps work when the wallet is linked through Ledger.
Not really… UST peg isn’t backed by the MC of Luna, but is held by arb opportunities. The peg held perfectly when Luna MC dropped by 40% over Dec-Jan. Rumours are >$1b BTC reserve is coming to ease peg instability concerns anyway.
Everyone talks about the untrustworthyness of USDT (Tether) and promotes alternates like USDC and US(Terra). However, if LUNA's value tanks wouldn't UST be unreliable? I really wanna get on that sweet 20% APY for UST, but I'm worried about it.
Post is by: scoobysnatcher and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s4vlos/guide_for_using_a_portfolio_tracker/ Previously, I was just manually inputting balances into CoinMarketCap, but I just learned about Ape Board, which seems very interesting. I was able to import my UST and Luna balances by adding my Terra wallet public address. Now I'm trying to add USDC and GUSD balances held at BlockFi, Gemini and Hodlnaut. On both Zapper and Ape Board, these all show as empty (though, weirdly, the Hodlnaut address showed as \~$40 in Zapper, which is totally wrong). Maybe I'm doing something wrong? I'm adding the public addresses for these external wallets into the tracker by going to, for example, BlockFi, clicking on "Fund, copying the address which pops up, then pasting that into the tracker. I'm selecting Ethereum chain for all of these USDC and GUSD wallets. Any guidance would be appreciated! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
UST looks better every day. So much work to do with exchanges to make it and LUNA available natively and not via ERC20. That and more UST trading pairs. UST is looking very strong if they pull that off. SEC will have zero power over it, unlike USDC and how that turned out.
Ohhh haha yeah I get why you'd laugh at that! UST is the Terra ecosystems dollar stablecoin, Terra stables singular purpose is becoming the most useable and free form of money there is and so rl application is ofc a big part of that!
Mind expounding on the LUNA criticism? Far as I'm aware neither it or UST rebase which seems to be what you're describing. I'd also love to hear if there are any other PoW coins you like as you seem to be conflating PoW concepts like premines with networks built to be PoS. Like do ERGO, KDA, or DOGE appeal to you?
Someone recommended using coinbase as a step to help fiat offramp some native LUNA or UST off of anchor protocol. Something involving swapping to USDC at some point. I'm sort of confused how this works. Doesn't swapping to USDC mean I'd ahve to eat a big gas fee at some point? What would you recommend? I live in USA
What's a good subreddit to ask questions about coinbase that won't result in you getting swamped in PM's by scammers pretending to be coinbase support? Where is good to find people to help you with questions about the coinbase website? I heard that UST on anchor -> swap UST for USDC on kucoin -> send USDC to coinbase to fiat offramp is an option for fiat offramping off of the anchor protocol, trying to understand
Terra ecosystem with UST stable coin is amazing. So good to deposit Luna as collateral and borrow UST to do other stuff with. Heck I have my ETH of Terra! Soon gonna be able to bring my SOL and ATOM over to Terra. I hope all of layer 1s succeed!
AVAX is pretty awesome and I think it has room to grow. ATOM and osmosis with LUNA and UST has been doing just fine for me and outperforming ETH and it's comparables (AAVE, COMP, UNI) by miles lately 🤷♂️
I would genuinely love to see USDT gradually be supplanted by the better stablecoins, one after the other. Hopefully UST flips it next. USDT and Bitfinex represent some of the greatest threats to long term crypto market stability. The sooner we can collectively be done with them, the better.
This is the way, but I assumed the question wouldn't let you move the UST into Anchor (because technically you're sending the UST to the contract and getting aUST back), so I don't think we'd be allowed to generate yield on it. I'd take ETH because I think it's super unlikely to be worth less in 5 years, and very likely to be worth a lot more.