Saber Launches First Wormhole V2 UST Pool on Solana with Terra

Saber announced partnership with Terra to launch the first Wormhole V2 UST liquidity pool on Solana.

Terra recently integrated with Wormhole V2, so users can bridge UST directly from Terra to Solana and deposit liquidity on Saber! Terra users bridging to Solana can provide liquidity on Saber and earn fees, or exchange their UST for other Solana stablecoins. SBR rewards will go live in the next 24 hours for the pool, and wLUNA rewards may also integrate with the pool soon pending a grants proposal.

UST is a USD-pegged token from the Terra ecosystem with over $2B in circulating supply. UST maintains its peg through an arbitrage mechanism collateralized by LUNA. USDC is Circle’s USD-pegged token backed by currency reserves, and can be obtained at major Solana DEXs and CEXs.

Saber is excited to enable interoperability between Solana and Terra, supporting seamless transfers for the next generation of DeFi products on these two innovative chains!

About Saber Labs

Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

About Terra

Terra is a next-generation proof-of-stake blockchain protocol that aims to power global payments systems through fiat-pegged stablecoins. By hosting stablecoins backed on a 1:1 ratio with the world’s top fiat currencies, Terra’s goal is to make its stablecoins available to mainstream audiences across the globe.

The Terra blockchain is powered by its native cryptocurrency LUNA. LUNA is used to stabilize Terra’s stablecoins, such as UST. UST is touted as being the first decentralized stablecoin that is scalable, yield bearing and interchain. UST is currently interoperable with Ethereum and Solana and it aims to improve DeFi projects’ scalability.

📰 INFO

https://blog.saber.so/saber-launches-first-wormhole-v2-ust-pool-on-solana-with-terra-1366426e339