Terra has announced that it will provide liquidity for TerraUSD trading pairs on the decentralized finance platform SynFutures.
LUNAUSD is up +4.55%
SynFutures is hosted on Polygon, BNB Chain, and Arbitrum and has since processed more than $266 million in trading volumes in the past week.
The platform is supported by major digital asset investors such as Polychain Capital and Pantera and backed by major investors including Polychain Capital and Pantera.
The announcement notes that users can trade stocks against USD Coin, FRAX, and wrapped ether. The UST pair will enable users of both platforms to have access to new markets and trading opportunities.
The news comes amid a rise in the growth of both UST and LUNA in the Terra blockchain. UST is currently the largest decentralized stablecoin supported by Terra’s LUNA tokens and bitcoin reserves.
LUNA is down 0.3% in the past day, trading at around $84 amid a cryptocurrency bearish market that macro risk factors have caused.