Allbridge Launches the First Bridge Between Aurora and Terra
Albridge announced in October its upcoming integration with Aurora. They are thrilled not only to deliver on their promise but to expand upon it by launching Aurora together with the highly anticipated Terra Protocol bridge.
Terra Protocol is an open-source stablecoin network, controlled by its stakeholders. It is currently estimated at $13 billion TVL according to the DeFi Lama aggregator. Pairing it up with Aurora establishes a very unique connection between these two networks and brings sizeable Terra liquidity to their ecosystem.
Terra’s cross-chain partnership with NearPad and Rose is a great place for users to bridge their Terra assets across to put them to use. NearPad aims to be a DeFi hub of Aurora with a product suite offering an intuitive DEX AMM, launchpad, and incubator. Users will be able to provide Terra assets in the DEX in incentivized pools to earn yield. Rose is a liquidity layer for Aurora, which will support a UST/USDC/USDT/DAI pool where users will be able to earn yield on entirely stable assets.
Furthermore, December 21 Allbridge will bridge vastly popular LUNA and UST tokens to Aurora — the EVM scaling environment on NEAR Protocol. With the help of Aurora’s AMM DEX at TriSolaris, users will be able to participate in the NEAR — LUNA and NEAR — UST farms. TriSolaris’ high-speed trading and convenient UI make it a perfect DEX to interact with the Terra tokens.
“NEAR and Aurora have been built for simplicity, security, and scalability. Stablecoins like UST provide a simple interface to store value and interact with apps that need to use a stable unit of account. Connecting NEAR, Aurora and Terra ecosystems via Allbridge allows apps like Rose and NearPad to offer new ways to use stablecoins to both communities“ — Illia Polosukhin, co-founder of NEAR Protocol.
Allbridge continues bridging more networks together, and the addition of both Aurora and Terra marks a significant milestone.
ABOUT Aurora
Aurora is an EVM built on the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users.
ABOUT Allbridge
Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains, that aims to cover L2 solutions and NFT transfers in the future.
ABOUT Terra Money
Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.
RESOURCES
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