In recent times, the Terra ecosystem is constantly expanding its foundation. The evidence is that in a very short time Terra has released Mirror Protocol, Anchor Protocol, … All of them have practical applicability and are very well received by the community.
In the near future, the Terra ecosystem will launch Saturn Money – another piece of the Terra Lego. What is Saturn Money and how will it play a role in the Terra ecosystem. Invite you to learn about Saturn Money through the article below.
About the Terra ecosystem (LUNA)
Surely you are no stranger to the Terra ecosystem, this is one of the Layer 1 blockchain platforms with the most powerful development today. In a very short time, the Terra ecosystem has gradually perfected its Lego with pieces of the infrastructure (Infrastructure), the Exchange (Exchange) or the most prominent is the next application (Application). reach users like Mirror Protocol and Anchor Protocol.
Just in a very short time, the two above-mentioned platforms have achieved results that not all “big players” in the market can achieve. Eg:
- Anchor Protocol – A Saving platform with a stable interest rate of 20% has attracted 100 million UST staked and over 167 million USD TVL.
- Mirror Protocol – A platform that allows brothers to invest in stocks in a crypto market that has surpassed $ 1.5 billion since its launch.
In addition, the Terra ecosystem also has new pieces such as Buzlink or Spar Protocol. Coming here is Saturn Money, I believe that Terra will not disappoint you, let’s find out Saturn Money through the section below.
What is Saturn Money and will the Saturn Money problem solve?
Simply put, Saturn Money will be a bank standing in the middle of a decentralized and decentralized economy that allows brothers to interact easily.
So what sets Saturn Money apart from Aave, which is also a platform that allows you to deposit assets and earn interest? That’s because two products in the Saturn Money ecosystem set the platform apart from competitors in the market:
Tethys Fiat Gateway
Now, with DeFi on the rise, more and more users are switching from the traditional economy to Crypto. However, they are facing many obstacles: When they want to interact with the global financial system, they can transact, save or invest on the blockchain system, but when they need to pay for traditional stores, they are forced to switch from cryptocurrency back to fiat-currency.
These shortcomings force users to perform a lot of unnecessary tasks, which are costly if they need to switch frequently. For example, brothers have 1,000 USD but when switching to blockchain platform, there is only 999 USDT after passing fees.
That is why the Tethys Fiat Gateway was born to reduce the volatility of fiat currency and stablecoins. If this problem is solved, Saturn Money not only eliminates a large amount of waste on transaction fees but also becomes a gateway for anyone to easily access DeFi.
After you invest in profit, then what? Let Titan Savings take care of that for you. Titan Saving is a product that allows you to send savings to receive interest. The special thing is that you will receive interest rates above 5% / year on EUR and GBP, which you will never get in the traditional economy.
The impact of Saturn Money on the Terra ecosystem
As you know, Saturn Money is a platform operating on the Terra ecosystem. Therefore, if Saturn Money is a successful product and attracts many users. Especially the user community is still unknown about the crypto and DeFi markets, this will bring a bigger advantage than ever to the Luna ecosystem.
Saturn Money will help users who do not know the steps to own a stablecoin can be purchased easily right on the application. Not stopping there, users can interact with decentralized finance right on Luna’s ecosystem.
Saturn Money’s ambitions
It would be flawed if Saturn Money is not recognized as a true ecosystem. Although not a platform that allows other projects to deploy on itself, Saturn Money is a platform that bridges the gap between financial markets.
As you can see on the photo, in the future Saturn Money will not only be limited to Titan Savings or Tethys Gateway but also Atlas, Calypso, … Currently Saturn Money has not announced specifically what those products are. . However, you can see that Saturn Money is having a very long-term strategy with the project. When there is any latest information from Saturn Money, the Coin98 team will update you as soon as possible.
If you feel that the community participating in the DeFi market is already very large, you have not really seen that the community still does not know what DeFi is. I am sure that community is much larger than what we see in front of us. The important thing is how to attract users who do not know the potential of decentralized finance.
I firmly believe that with the backing of the Terra ecosystem and the strategy with the long-term vision of the project, Saturn Money will be a star in the Terra ecosystem in the near future.
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