Algorithmic money market Terra will provide liquidity for TerraUSD (UST) trade pairs on decentralized finance (DeFi) exchange SynFutures, according to a release shared with CoinDesk.
- SynFutures, which is accessible via Polygon, Binance Smart Chain and Arbitrum, processed over $266 million worth of trades over the past week, data shows. The protocol is backed by major crypto investors, such as Polychain Capital and Pantera, among others.
- As of Wednesday, users can trade a variety of assets against USD Coin (USDC), FRAX and wrapped ether (WETH). The upcoming UST pairing would allow users of both ecosystems to gain access to newer markets and trading opportunities.
- Meanwhile, Terra and SynFutures said they would explore other ways to work together ahead of the launch of SynFutures V2, an upcoming version that would see the launch of perpetual futures and other sophisticated trading products.
- The price of LUNA is down a nominal 0.3% to about $84 in the past 24 hours.
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