StellaSwap Partners with Terra for UST Correlated-Asset AMM Launch
Are you ready for low-slippage stablecoin staking with UST? 🔥
After announcing our upcoming correlated-asset AMM launch 24 hours ago, we’re pumped to announce a strategic partnership with Terra to bring canonical UST to Polkadot and Moonbeam! The first implementation of Terra’s canonical UST will be on StellaSwap’s correlated-asset AMM, which is due for launch soon.
Welcome to the Basepool, Terra UST
UST will be a key stablecoin to the core basepool under StellaSwap’s correlated-asset AMM, along with stablecoin giants: USDC and USDT. Under a stableswap AMM, a basepool represents a core liquidity pool that powers the liquidity for rest of the liquidity pools across StellaSwap, enabling efficient routing so end users gets the lowest slippage+fees!
The accolade for being part of the basepool is based on the market size and popularity of the stablecoin. TerraUSD (UST) has outmuscled DAI as the largest decentralized stablecoin in the space, growing at a staggering pace of 100%+ since the start of this year. Right now, UST has a market cap of $18 billion while DAI’s sit at half of that; $9 billion.
The exponential growth and popularity of UST is one of the key reasons as to why UST will be included in StellaSwap’s basepool.
What Can You Expect?
StellaSwap has been working very closely with the Terra team to prepare for the first correlated-asset AMM launch on Polkadot and Moonbeam. UST’s inclusion to the basepool is testament to the strong working relationship between both teams and users can expect more good news ahead. The hallmark basepool would be incentivized by various key stakeholders that will be announced closer to its launch, so stay tuned! 🙌
About StellaSwap
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.
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