Allbridge Launches the First Bridge Between Aurora and Terra
Fellow AURORians and LUNAtics, rejoice, two new blockchains are coming to Allbridge at once!
Back in October, we announced the upcoming integration with Aurora. We are thrilled not only to deliver on our promise but to expand upon it by launching Aurora together with the highly anticipated Terra Protocol bridge.
Terra Protocol is an open-source stablecoin network, controlled by its stakeholders. It is currently estimated at $13 billion TVL according to the DeFi Llama aggregator. Pairing it up with Aurora establishes a very unique connection between these two networks and brings sizeable Terra liquidity to their ecosystem.
Tera’s cross-chain partnership with NearPad and Rose is a great place for users to bridge their Terra assets across to put them to use. NearPad aims to be a DeFi hub of Aurora with a product suite offering an intuitive DEX AMM, launchpad, and incubator. Users will be able to provide Terra assets in the DEX in incentivized pools to earn yield. Rose is a liquidity layer for Aurora, which will support a UST/USDC/USDT/DAI pool where users will be able to earn yield on entirely stable assets.
In addition, on December 21 we will bridge vastly popular LUNA and UST tokens to Aurora — the EVM scaling environment on NEAR Protocol. With the help of Aurora’s AMM DEX at TriSolaris, users will be able to participate in the NEAR — LUNA and NEAR — UST farms. TriSolaris’ high-speed trading and convenient UI make it a perfect DEX to interact with the Terra tokens.
“NEAR and Aurora have been built for simplicity, security, and scalability. Stablecoins like UST provide a simple interface to store value and interact with apps that need to use a stable unit of account. Connecting NEAR, Aurora and Terra ecosystems via Allbridge allows apps like Rose and NearPad to offer new ways to use stablecoins to both communities” — Illia Polosukhin, co-founder of NEAR Protocol.
Allbridge continues bridging more networks together, and the addition of both Aurora and Terra marks a significant milestone for us. Visit our social links to be the first to learn about the latest Allbridge integrations!
Aurora is an EVM built on the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users. Aurora is backed by top VCs such as Pantera Capital, Electric Capital, Dragonfly Capital, Three Arrows Capital, and Alameda Research.
NEAR is a high-performance blockchain that is designed to be super-fast, incredibly secure, and infinitely scalable. NEAR’s vision is to create a network that enables people to re-imagine finance, creativity, and community in new and inclusive ways. NEAR is built by an award-winning team of engineers and entrepreneurs to be simple to use, inclusive and good for the environment. NEAR is backed by top VCs such as A16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.
NearPad aims to be the flagship gateway for the DeFi ecosystem on Aurora. Consisting of a DEX AMM, launchpad, and incubator it offers the product suite needed to foster and grow the DeFi ecosystem on Aurora. NearPad is backed by leading VCs such as NGC Ventures, Flow Ventures, Near Foundation, and others.
Rose is a liquidity protocol on Aurora composed of a stablecoin & wrapped assets exchange, and a Collateralized Debt Position (CDP) based stablecoin platform for RUSD. Rose aims to have deep and capital-efficient stablecoin liquidity on Aurora to enable users to seamlessly exchange between assets as well as allowing protocols to build on top of Rose to tap into that liquidity. Rose is the first project to be incubated under NearPad.
TriSolaris is a decentralized exchange (DEX) on the Near blockchain, running on NEAR’s Aurora engine. TriSolaris delivers high-speed trading to users at less than a fraction of the cost of Ethereum or any Ethereum L2.
Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.
Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains, that aims to cover L2 solutions and NFT transfers in the future.
Allbridge’s mission is to make the blockchain world borderless and provide a tool to freely move assets between various blockchains.
Notice: This article does not constitute any investment advice, and is not responsible for any investment results.
Originally published at https://allbridge.medium.com on December 21, 2021.