Pylon is the first app built on the Terra blockchain, and it will allow users to send money anywhere in minutes. The platform supports a wide variety of transactions including crypto-to-crypto conversions plus fiat currency transfers.
The “pylon protocol staking” is an integration with Terra that will allow the user to stake their Pylon tokens on the XDEFI wallet. This will be done through a liquidity program on the Pylon Protocol.
London, England, October 28th, 2021
Terra, the fourth biggest blockchain ecosystem by total value locked, has announced its integration with XDEFI Wallet, the web wallet focused for speed (TVL). The integration has finally been made available to all XDEFI Wallet users after many weeks of testing.
“I think that UST serves a unique role as a decentralized stablecoin and will become a crucial component of the crypto ecosystem,” said Émile Dubié, CEO and co-founder. Terra’s main selling point is its user-friendly, UX-focused environment, which appeals to a larger web3 adoption. It’s fascinating to observe how Terra has progressed as a Layer 1 and to see projects spring up all around UST.”
Terra is a programmable Layer 1 blockchain system with a stablecoin suite based on algorithmic fiat pegs. Terra’s native LUNA token absorbs Terra’s stablecoins’ short-term volatility. Terra has approximately US$8.6 billion in TVL, according to DeFiLlama, while LUNA, the Terra blockchain’s native asset, exceeded US$18 billion earlier this year. Over 60 projects are set to begin on Terra in the next 6–8 weeks, with more than 100 announcing intentions to launch by early 2022.
“We’re delighted to welcome XDEFI as a non-custodial wallet supporting the Terra ecosystem,” stated Do Kwon, CEO and Co-Founder of Terra. LUNAtics now has one of the quickest and most user-friendly multi-chain wallets in the business, thanks to XDEFI’s integration with Terra, which includes a customized NFT display that will soon showcase Terra’s thriving NFT market.”
XDEFI Wallet also supports Bitcoin, Ethereum, Polygon, Binance Smart Chain, Binance Chain, THORChain, Litecoin, and Bitcoin Cash, in addition to Terra. Avalanche, Arbitrum, Solana, and more cryptocurrencies will be supported by XDEFI Wallet in the future.
XDEFI Wallet also stated that they would be collaborating with Pylon to establish a Terra liquidity program. Pylon is a DeFi savings and payments product suite backed by user deposits and built on solid yield-bearing technologies like Terra’s Anchor Protocol. Through customized deposit contracts and yield redirection, Pylon facilitates long-term value exchanges between long-term value producers and their clients.
“Our protocol is thrilled to join with XDEFI Wallet to open up Pylon Pools on Pylon Gateway, Terra’s flagship launchpad, and provide yield-based deposit contract pools,” Woojin Lim, Co-Founder of Pylon Protocol, stated. We’re excited to collaborate in the development of Terra’s ecosystem.”
Half of the funding received via Pylon will be utilized to finance Terra ecosystem early-stage initiatives. The community will have a say in how the money are distributed.
XDEFI Wallet is backed by a number of DeFi-focused funds and venture investors, including Mechanism Capital, DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures, and CoinGecko, as well as DeFi builders like Darren Lau, Mark Zeller, Scoopy Trooples, and Mariano Conti, and has recently raised US$6 million.
XDEFI Wallet released its next-generation web wallet on the Chrome Store earlier this month, and it already has over 35,000 users. Include information about IDO.
XDEFI Wallet Information
The world’s quickest DeFi and NFT wallet is XDEFI. On the Terra, THORchain, Ethereum, and EVM blockchains, XDEFI Wallet users may employ “Ape Mode,” a new strategy that assures transactions are executed in the next block. NFTs from all chains are shown in a single drag-and-drop grid in the wallet. The XDEFI Wallet team, which numbers over 20 people, is situated all over the globe and is supported by some of the most well-known names in DeFi and NFTs.
- Janumala, Christine
- [email protected]
The “pylon protocol whitepaper” is a document that describes the project’s goals and objectives. It also provides an overview of the Pylon Network, its technical specifications, and how it will work in detail.
- pylon protocol gateway
- pylon protocol mine
- pylon protocol contract address
- terra’s pylon protocol
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