XDEFI wallet, one browser-based service for DeFi assets and decentralized finance NFTs, now officially supporting the Terra layer 1 blockchain protocol on its platform. This new development comes after several weeks of testing and development.
Now with Terra integration, the platform currently supports no less than 9 blockchain networks including Bitcoin, Polygon, and Ethereum. Furthermore, it has indicated an interest in combining Avalanche, Solana and Arbitrum in the near future.
In early October, XDEFI rolled out their public cross-wallet extension on the Google Chrome web store, stating their clear intention to make it easily accessible to users of the browser.
Also, recall that at the end of September, XDEFI raised nearly $6 million from a number of accredited crypto VC crypto firms including CoinGecko, Mechanism Capital, Alameda Research and some individual investors.
Speaking about the inherent benefits of the native algorithmic stablecoin TerraUSD (UST), co-founder Émile Dubié shared his belief that the UST serves a sole purpose as a decentralized stablecoin and will certainly continue to do so. become an important component of the cryptocurrency ecosystem.
XDEFI further revealed its plans to create a liquidity scheme on Terra, hoping to do so in partnership with DeFi protocol Pylon. The program will support the first projects on the Terra ecosystem.
According to analytical data from DeFiLlama, the Terra blockchain has a total locked value of $9.75 billion across eight assets, the most popular of which are Lido Finance, Anchor Protocol, and decentralized blogging platform Mirror. $2.95 billion, $3.94 billion and $1.27 billion. , corresponding.
Do Kwon, who is both CEO and Co-Founder of Terra, also expressed his excitement about the impact that XDEFI can have on Terra ecosystem.