3 things to know about Terra (LUNA) before you seriously consider investing in this crypto

LUNA staking yields 6-8% per year

With $30 billion in tokens locked up by holders on Terra, LUNA has surpassed Leave her as the second most staked asset in March 2022.

You can receive passive income by storing LUNA. The easiest way to stake your LUNA tokens is on the wallet Terra Station. You will first need to create a Terra Station wallet, and transfer your LUNA tokens from any exchange where you purchased them.

It’s important to note that if you decide to go for it with Terra Station, there is a minimum 21-day lock-in period for your tokens before you can receive your rewards. You cannot spend your LUNA during this period. You can get an annual return of more than 6% with staking.

Farming with Anchor Protocol

Anchor is a lending and borrowing platform that provides a high interest rate – up to 19.5% for holders of Terra stablecoins who stake their holdings. It is launched on the Terra Blockchain. The protocol is introduced by the network as a way for stablecoin holders to receive rewards. Holders of Terra stablecoins, including lustreceive earnings in the same way as LUNA staking. Rewards are paid in ANC, the native crypto of the protocol.

Issuance of synthetic assets with Mirror Protocol

Mirror Protocol is a decentralized finance (DeFi) platform that allows the issuance of synthetic assets that track the value of real-world assets, including stocks. Mirror Protocol allows Terra users to issue fungible assets. To issue a “mirror asset”, called mAsset, one only needs to pledge more than 150% of the value of the existing asset in Terra stablecoins or mAssets. These can be traded with UST stablecoins on the platform. It is therefore a way of trading stocks within the Terra ecosystem.

💎 Find the best Gems with our Free Guide!

Learn how to analyze cryptos like a pro, avoiding Red Flags and Scams, to start or continue your adventure in the world of cryptocurrency.

Leave a Comment