XDEFI Wallet integrates Terra and starts liquidity program

XDEFI wallet, a Browser-based service for decentralized financial investments (DeFi) and non-fungible tokens (NFT) has officially integrated the Layer-One blockchain protocol Terra into its platform after several weeks of testing and development.

With Terra, the platform now supports nine blockchain networks, including Bitcoin, Ethereum and Polygon. It has also expressed its intention to incorporate Solana, Avalanche and Arbitrum in the future.

Earlier this month, XDEFI released its public cross-wallet extension on the Google Chrome webstore, with the stated intention of providing easy access for browser users.

In late September, XDEFI raised $ 6 million from a recognized number of venture capital crypto firms including Mechanism Capital, Alameda Research, and CoinGecko, as well as a number of private private investors.

Commenting on the benefits of Terra’s native algorithmic stablecoin TerraUSD (UST), CEO and co-founder Émile Dubié:

“I believe that UST will serve a unique purpose as a decentralized stablecoin and will become a key component of the crypto ecosystem. Terra’s killer app is their accessible and UX-focused environment that is driving wider Web3 adoption. It’s really exciting to see how Terra has developed as Layer 1 and how projects around UST are flourishing. “

Related: 3 reasons the Terra (LUNA) price hit a new all-time high

XDEFI also revealed plans to create a liquidity program on Terra in collaboration with the DeFi Protocol Pylon. The program aims to support initial projects in the Terra ecosystem and to provide community governance opportunities with regard to the selected project types.

According to analytical data from DeFi Llama, the Terra blockchain enables a total of $ 9.75 billion, or TVL, across eight assets, the most popular of which are Anchor Protocol, Lido Finance, and the decentralized blogging platform Mirror, which are 3.94 billion $ 2.95, B recorded, and $ 1.27 billion, respectively.

Terra CEO and Co-Founder, Do Kwon, shared his excitement about the potential impact of XDEFI on the Terra ecosystem:

“We are very pleased to welcome XDEFI as a non-custody wallet that supports the Terra ecosystem. XDEFI, which integrates Terra, offers LUNAtics one of the fastest, easiest-to-use multi-chain wallets in the industry, including a customizable NFT display that will soon encompass Terra’s booming NFT market. ”

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