Hi. I asked people on TG groups in the terra community which are the barriers to entry into the terra ecosystem and it seems one of the big issues it’s where and how to buy UST:
These are some of their answers:
Terra barriers into the ecosystem:
-We need a Terra Academy and a guide step by step how to buy UST on Uniswap or 1inch and how to use terra bridge to move ust from ETH to Terra"
We need videos, articles and visuals for this. It’s the main entry into the ecosystem from ETh-Terra"
-I think the fact that the total Luna supply was dropping even when Luna was burning made it easy to fud things. C5 will help."
-A lot of people want a fast return with no studying involved. Terra appears complicated at first and many won’t get past that."
- ust not on Binance
- I would like to use it to pay for my coffee, actually maybe I can open my own coffee shop to use it for paying in chai or EUT… "
-I’ve had to handhold some of my friends to convert fiat into UST and then into Terra. That seems to be the biggest hurdle. I know this will all change soon, but some kind of simple graphic showing people ways it would be great in the interim."
-UST on exchanges for sure. Only KuCoin atm, which I really small."
-The main question I see pop up on Twitter feeds is where to buy Luna. You can’t buy it with fiat on Binance, you need to swap USDT/C for it, pretty daunting for noobs."
-Need Luna on Coinbase for USA peeps."
-I feel most people don’t even understand the luna-terra stablecoins ecosystem, probably some sort of marketing/education will help a lot"
-Difficult for US users to get the native Luna assets. Coinbase has MIR but it’s the Eth version, which adds more steps to entering the eco. Voyager/Crypto.com have Luna but don’t allow transfers."
-More onboarding from fiat, more trading pairs on multiple exchanges, it should be a safe haven during liquidation events. The last 1 we saw was the opposite with people jumping off ust. Can someone help me create an on/off boarding portal to rm? I could provide arbitrage services from rm to ust and vice versa. What would sell with ringgit to ust is anchor returns. I’m no programmer but I do arbitrage on usdt here in malaysia."
-P2P portal for ust/rm"
-Firstly, if people’s dreams of bear market resistance for Luna are to be realized, it needs to be on as many CEXs and DEXs as possible. That way, people can cash out to UST instead of some other stable coin.
Plus, for that to work, it needs an easy way to transfer UST to TerraStation VIA THE TERRA network (I bought some MIR yesterday on Binance and was surprised I had to go with wrapped MIR over the ETH network to Metamask, to the bridge, to terrastation -just too fiddly for most normies)
Secondly, easy integration of Anchor Earn into TerraStation or a 1-click simplified terra stable coin wallet, which looks like a fiat current account with ‘savings’ button to transparently move funds to savings.
Maybe work with exchanges to have this functionality built in to exchange wallets (but where exchanges get a cut of the interest as an incentive).
Thirdly, easy on/off ramps. Buying UST is a pain! I don’t really use Kucoin.
Fourthly, payment processors to rival Visa, Amex, and Mastercard. Or rather work with them initially so that we don’t look like a threat
Finally, for merchants and others that already accept Bitcoin and another crypto as payment methods, a bit of promotion of Terra stablecoins as a quicker, easier, less volatile alternative with 20% ANC savings attached. Get these early adopters aware of terra stables!
Bonus, have a DEX integrated into TerraStation with easy swaps to other cryptocurrencies and perhaps NFTs.
Oh, and… dark mode for TerraStation probably"
-Oh, yes, this as well - add depositing as many other cryptos as possible into the easy 1-click wallet I mentioned above so that anyone can get an easy 20% on their crypto holdings"
-I would be serious to provide arb services for rm/ust if infrastructure is there. Hope the team sees this. Or maybe a terra P2P platform only for terra stablecoin with multiple currencies pair."
-visa or mastercard integration"