Review on Terra by Věra Filipová

I have to say that looking for the future star project, is the hard discipline, especially if you are trying to find next top contender to slip into top 10. I was quite lucky I have found out Terra Luna (2 years ago) which seemed to me as a really innovative project (and I hope I was right). It has all utilities what would you expect from modern chain. It is smart contract platform. There is NFT ecosystem around the project (it has own NFT marketplace). It has its very own stablecoin which is built algorithmically. There are lot of wallet (Terra Station, Leap Wallet - I have tried both and I could say taht there are both great, easy to use with friendly environment).









The team behind Terra is not anonymous, it is well know with clear startegy that is always important. The scalability is great, there was no downtime. The fees are low so it is easy to use the ecosystem. There are dapps around the ecosystem and new applications are being developed. I see that their smart contracts are audited and working well without any hack or rug pull. They are moving fast in development and we can expect more to come in the near future.

Terra blockchain is using the Proof of Stake consensus algorithm like all other new chains comming in the space.

The backbone of the Terra is their algorithmic stablecoin UST. It is growing in the popularity. There is also a huge option to earn on your UST with app. 20% APR with Anchor protocol. Anchor protocol is easy dapp on Terra with simple use case (they are not generating yields from reserve but from their very own lending business). The recent news convinced me that the UST should be the main stablecoin because their cofounder Do Kwon announced that they will buy 10 billions of BTC to their reserve as collateral to UST ( to susatin its value). I percieve BTC as the best reserve assets. It works alongside the native token LUNA which is used (burned) to sustain the value.



There are also yield farming opportunities in plethora of decentralized finance apps such Mirror Protocol (there you are farming via a synthetic assets which "mirror" real word assets such as stocks). The Terra blockchain is IBC that means it works within Cosmos ecosystem so you can yield farm for example on Osmosis. There are also native DeFi applications allowing yield farm (i.e. TerraSwap).

The project has an active and friendly community. It is robust with all you expect from the chain. Best in class. I am highly recommending and I am myself moving my funds to the ecosystem.