Presenting Multi-Chain UST-aaS Service

Published on: 08.05.2022

Terra has now committed 20 million UST to UST-use and will not be required to return to governance until all of this liquidity has been deployed. Presenting Multi-Chain UST-aaS Service

UST-aaS makes it possible for token issuers to increase the liquidity of their token on decentralized exchanges across multiple blockchain’s. Indeed, this partnership brings new liquidity solutions to DAO’s that run on Avalanche, Fantom, Polygon, or BSC where their current UST supply is respectively 70m, 24m, 5m, and 5m.

How does UST-aaS work?

With UST-aaS, a project deposits their token into an Ondo liquidity vault with a fixed duration. The vault supplies liquidity to a decentralized exchange. Upon expiration, the vault withdraws the liquidity and pays back Terra their principal plus a fixed APR. It may be expanded in the future.

Nine Chronicles to utilize UST-aaS

Nine Chronicles is a decentralized fantasy MMORPG on Ethereum mainnet with an in-game currency, WNCG.

Terra will deposit an initial 2M UST into the fixed tranche of Ondo’s liquidity vault, with Nine Chronicles depositing an equivalent amount of WNCG into the variable tranche. This will form the first liquidity vault which will commence 18 May, with a duration of 12 weeks.

Terra and Nine Chronicles will repeat this process for a second vault which will commence 29 June for a duration of 12 weeks. This will bring the total liquidity supplied to $8M.

About UST

UST is the largest algorithmic stablecoin by market capitalization, and the third-largest stablecoin overall, behind USDC & USDT.

About Nine Chronicles

Nine Chronicles is a fantasy MMORPG that runs on the blockchain. decentralized RPG that players can enjoy, compete, earn, and power together, powered by groundbreaking technology that gives players the freedom to play how they want: exploring, crafting, mining or governing in a uniquely moddable, open-source adventure.

About Terra

Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.