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XDEFI Wallet Integrates Terra, Partners With Pylon Protocol To Support Terra Ecosystem

CryptocurrencyOct 28, 2021 10:00AM ET
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XDEFI Wallet Integrates Terra, Partners With Pylon Protocol To Support Terra Ecosystem

  • XDEFI Wallet unveils integration with Terra (LUNA).
  • It is now live to all XDEFI Wallet users.
  • XDEFI Wallet will also work with Pylon to set up a liquidity program on Terra.

World’s fastest DeFi and NFT wallet — XDEFI announces its integration with Tera. Before the official unveiling, the integration was live for a couple of weeks and underwent testing. Besides this, XDEFI Wallet supports 8 other chains. These include Bitcoin, Ethereum, Binance Smart Chain, Polygon, THORChain, Litecoin, Binance Chain, and Bitcoin Cash.

XDEFI’s CEO and co-founder, Émile Dubié, speaks on Terra,

I believe that UST serves a unique purpose as a decentralized stablecoin and will become a key component of the crypto ecosystem. Terra’s killer app is its accessible and UX-focused environment that caters for wider web3 adoption. It is truly exciting to see how Terra has developed as a Layer 1 and to see projects flourishing around UST.

To specify, XDEFI Wallet is a fast DeFi and NFT wallet that allows users to use “Ape Mode.” In detail, Ape Mode is an innovative approach that ensures transactions are processed in the next block. Which is across Terra, Ethereum, EVM blockchains, and THORchain. Also, the wallet displays NFTs from all chains in a single drag-and-drop grid.

Meanwhile, Terra is the 4th largest blockchain ecosystem with $8.6 billion in total value locked (TVL) according to DeFiLlama. To add on, Terra offers a suite of algorithmic fiat-pegged stablecoins through a programmable Layer 1 blockchain protocol. Terra’s native toke, LUNA which hit $18 billion earlier this year consumes the short-term volatility of Terra’s stablecoins.

Terra CEO and Co-Founder, Do Kwon also stated how happy he is,

We’re thrilled to welcome XDEFI as a non-custodial wallet supporting the Terra ecosystem. XDEFI integrating Terra provides LUNAtics with one of the fastest and most user-friendly multi-chain wallets in the industry, including a customizable NFT display which is soon to feature Terra’s booming NFT market.

Similarly, XDEFI Wallet reveals they will be working with Pylon to develop a liquidity program on Terra. Precisely, Pylon is a suite of DeFi savings and payments products driven by user deposits that build on stable yield-bearing protocols such as Terra’s Anchor Protocol.

Notably, half of the fund raised via Pylon will go into funding the early-stage projects of the Terra ecosystem. Moreover, the community will have decisive power over how the funds will be used.

Co-founder of Pylon Protocol, Woojin Lim expresses how thrilled Pylon is to work with XDEFI Wallet in a statement,

Our protocol is excited to partner with XDEFI Wallet to open up Pylon Pools on Pylon Gateway, Terra’s premier launchpad, and introduce yield-based deposit contract pools. We’re looking forward to working together in growing Terra’s ecosystem.

XDEFI Wallet disclosed the public release of its next-generation browser wallet on the Chrome Store and immediately accumulated over 35,000 users just a few weeks after launching. XDEFI also unveiled its token, XDEFI through an initial decentralized exchange (DEX) offering.

The token sale will be done via MISO, a suite of smart contracts that enables ‘self listing of Ethereum and BSC-based tokens on flagship DEX SushiSwap (SUSHI). One million dollars out of the total cap will be donated to xchain.js development growth as a grant from the XDEFI team and investors.

In summary, XDEFI Wallet is supported by a number of DeFi-centric funds and venture investors. Such as Mechanism Capital, DeFiance Capital, Morningstar Ventures, Alameda Research, Sino Global Capital, Animoca Brands, and CoinGecko. As well as DeFi builders like Darren Lau, Mark Zeller, Scoopy Trooples, and Mariano Conti.

Continue reading on CoinQuora

XDEFI Wallet Integrates Terra, Partners With Pylon Protocol To Support Terra Ecosystem
 

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