LFG detailed on Thursday that the purchase is meant to strategically align the Terra network with Avalanche ecosystems.
on March 17 that Anchor now supports Avalanche via Xanchor , which is an “extension to Anchor Protocol.”
“The premise of the UST Reserve is to provide a backstop against UST peg deviations in instances of sharp contractions of UST demand exogenous to Terra’s algorithmic model,” Nick Platias, a Governing Council Member of LFG explained on Thursday. Platias further discussed the benefits of diversification when it comes to protecting the UST Reserve.
The announcement further notes that Avalanche users will be able to trade UST for AVAX onchain on the Avalanche blockchain. “We are thrilled that our partners at LFG will be adding AVAX to their fast-growing UST reserve,”
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