Agreed
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Hello Everyone, and great proposal Jimmy.
Expanding into more ecosystems is great for UST adoption. Some thoughts:
Pairs with each native asset would work well for routing. For stable<->stable swaps it could also be worthwhile to consider Curve factory pool. I’m not sure how our veCRV votes work outside Ethereum mainnet, maybe there is something there?
If I understand correctly, Axelar supports general messaging. So there would be less fragmentation across several LPs on bridges and wrapped assets.
There is still an additional blockchain we would need to trust moving large amounts of UST. I think it’s the best available option currently, but paying attention to security is very important here.
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Like @veBasque said, fragmentation can be solved by stable swap pools, such as Curve on Ethereum, ve(3, 3) on Fantom.
how much tokens do i need to be a validator
That’s a cute question lol.
Chains build with cosmos sdk are open and permissionless, anyone can become a validator as long as reaches the minimum self-bond amount.
In Terra network, the amount is 5 LUNA (correct me if I am wrong), not sure about how much on axelar mainnet (should be something similar), need @yorgosv to confirm
@somethingelse raises some valid points. I support the overall proposal for expanding UST’s reach, but will monitor for answers to concerns.
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Additional information on bridge security tradeoffs here: Blockchain Bridges: Building Networks of Cryptonetworks | 1kxnetwork
We absolutely need to be up and running on Moonbeam. However, I would propose that we stay nimble and make sure we go to the right dex. I hold Flare and assumed that Solarflare would be the top dex on Moonbeam. But Stellaswap currently has more TVL and they’re building a POL treasury. Look at their Avalanche Initial Liquidity Offering. Maybe if we direct our mining incentives to them, they’d do a Luna Initial Liquidity Offering, and buy up a bunch of Luna to hold in their treasury.
Ultimately, Moonbeam’s ecosystem is SUPER new so let’s keep our ear to the ground on which dex to use and try to make sure we get the best possible deal.
Hi Jimmy I just saw your proposal to take UST crosschain with incentives onto some of the major dexes on avax, ftm and moonbeam. I see you only mentioned Solarbeam i.e. solarflare on moonbeam. I would recommend looking at Stellaswap too, it’s captured most of the tvl right off the bat and its users are increasing steadily. Looks to be superior to solarflare, zenlink, beamswap…It’s early days for the dexes on moonbeam, but I’d definitely have my eyes on Stellaswap
Good Day,
Jomari Peterson here, Core Strategist for Axial, a StableSwap exchange on Avalanche (similar to Curve). As a stable swap, we would love to include UST as part of our pools. I think presence on Pangolin, Trader Joe is absolutely necessary, but Axial can provide access to better peg maintenance and routing.
Axial was deployed as a spin out as the first StableSwap on Avalanche.
Would love your support in including this in consideration. @lejimmy
Stella has the most stablecoin liquidity on Moonbeam by far. What I can’t tell by looking at the dapp though, is are those stableswap pools? Because ideally I think that’s what we want for UST. I mean obviously a constant product GLMR-UST pool, but if we have a UST-USDC or whatever pool it’d really be ideal to get that amplification from making it a stableswap.
Probably the biggest thing if you want those rewards directed towards Stella though would be to get the team to talk to Jimmy from GT Capital. My experience though trying to get the attention of any teammembers (besides moderators) on any GLMR exchange (be it Solar, Beamswap, or Stella) has been challenging.
Certainly it will help with confused users but doesn’t really help with maintaining the peg of either version of UST.
As of right now, you need more than the 130th Validator by Voting Power to join Terra’s active validator set, which is about 70,492 LUNA. We don’t need @yorgosv or @elaipson to verify that, not that they will respond anyways since the proposal has already passed, still waiting on the answers to my questions but its very apparent I won’t be getting those answers.
Axelar is using the Terra’s community pool to boost its own mainnet launch on networks that Terra could reach through other means already, its a bit ridiculous if you ask me. In return, when we ask questions, we are simply told to do better research. This is a raw deal, community is getting screwed.
I really hope Axelar can deliver on its vision, if it doesn’t, expect the next request for incentives in 3 months to be met with extreme resistance.
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Vote Yes
Amazing proposal. 100% back this up
When will we see this proposal implemented?
Can we change solarbeam (solarflare) for stellaswap. frankly solarbeam has done a shit job developing their dex. -50% tvl on the last 7d while the other 2 have been on the rise. stelaswap has currently +5x tvl than solarflare, having a growth rate of 30% on the last 7d
also solarbeam is not on moonbeam, you are referring to solarflare. solarbeam is on the kusama network
Another thought, what about the CREDIT protocol on fantom? They are basically a MIM fork, and have a stablecoin called cUSD that offers nice farm rewards. They are constrained in their growth right now due to not enough liquidity. A partnership with UST could be mutually beneficial, especially if CREDIT supplies the farm reward for a UST/cUSD pool.
in case you dont know about solarbeam, i will say this.Moon beam is on Polkadot which is L0, just like ETH but uses substrate a language that is far better than solidity.Substrate and L0 polkadot was made by one of ETH founders and the WEB3 term belongs to him.This is HUGE as terra UST will become a stablecoin in the dot system that is highly secured and has less risk for contract failure or hacks.(see solana the 94k eth hack?) cant happen in dot chain.furthermore Terra luna ust and DOT have a 50 billlion market cap combined that brings them to n5 in market cap of total crypto.
Anyone else feeling like @somethingelse trying to call out that Axelar was uneccessary for this was quiet prophetic given the current situation?
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