It is very clear that a lot of people have moved on to none ETH DeFi. Platforms like BSC are very popular than Ethereum right now 🤯
$CAKE on BSC and $LUNA on Terra blockchain are the best performers so far this year.
I know $CAKE, but I didn't know about Terra blockchain or $LUNA.
So what is $LUNA?
It is a native token of Terra blockchain which is a decentralized payment network that is growing rapidly.
It seems like it is easy to delegate $LUNA and earn rewards too.
Let's run an estimate. For example, if you stake 1000 LUNA for 5 years, monthly reward would be 35 LUNA which is about $560.
But 5 years is a very long time so you can change the duration or amount and get an estimate how much you could earn here
https://www.stakingrewards.com/earn/terra
But $LUNA token itself is doing well so the estimate value could end up a lot more.
Delegate and undelegate $LUNA looks pretty simple.
Just need a Terra station wallet here, https://terra.money
Pick a validator and click Delegate/undelegate.
and watch your money goes up.
There is a locking up period when you undelegate though...
Undelegating and unbonding period
Select the delegator you want to undelegate from, and tap the “Undelegate” button. Once you
send this transaction, your Luna will remain locked and unstaked for 21 days.
This is kind of a big deal though for me... if I want to move my asset whenever I want to but I have to wait and can't do anything during the lock up period... kind of sucks.
But it seems like Terra has a lot of good things going on. One of which is this bridge.
Crosschain bridge like this is very useful these days 🤯
https://bridge.terra.money
So you can go to different blockchain pretty easily with your existing ETH tokens?
I am pretty interested in exploring DeFi that are not build on ETH so I am going to do more research on this Terra $LUNA.
If you are also interested, there are bunch of docs here.
https://docs.terra.money/ecosystem.html#terra-website-and-socials
You might able to find the "right" DeFi for yourself 😉
Easy Simple Crypto Exchange 👇
Yay! 🤗
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Omg my head is paining now their is so much to learn in crypto world. This is some thing new I have seen and reading about that is defi.
Points Boosting refund to @tomoyan! 🤓
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