Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The cryptocurrency market is a multi-trillion dollar space, growing consistently in length and breadth. Not only is the volume of trade increased, but the number of market participants and market facilitators is also increasing each day.
There are more than 18,000 crypto assets in the market today, traded across nearly five hundred exchanges. While the increased volume of crypto-trade is a natural outcome of the growing number of crypto assets, other blockchain-powered systems and mechanisms are also surging fast.
For instance, the total value locked in all the DeFi protocols combined is more than $230 billion, while the NFT market reached $41 billion in 2021. Growth in diverse streams and areas encourages platforms to come up as an ecosystem of offerings rather than concentrating on one or two areas of high growth.
Terra, the well-known network in the crypto space, claiming to have introduced programmable money for the internet, has gone up a step ahead with Terraformer, an engine propelling the growth of its ecosystem.
Aggregated Trading With Terraformer
Trading with Terraformer is a one-stop-shop for every maneuvering possible with your crypto assets. You can connect Terraformer online with your Terra Station extension wallet or mobile application and start swapping any coins on Terra, including the native USD Terra, KRW Terra, Eur Terra, etc, as well as other Terra-compatible tokens. You can access a wide variety of liquidity pools to stake and earn. There are some high-return liquidity staking pools in Terraformer’s list. For instance, the Credefi pool, where you stake CREDI to earn CREDI, comes with an APR of nearly 280% (as of the time of this writing).
The toolkit that Terraformer has launched is actually the first trading aggregator on Terra, which also includes an aggregated data and analytics tool, as well as an IDO database. In the process, it plans to achieve a super aggregator dApp that will solve some of the biggest industry bottlenecks.
An aggregated DEX for Terra means access to all DEXes simultaneously rather than having to visit them one at a time. This leads to the best rate available for token swaps with a single click. For the users, it will mean optimizing their investment in a shorter time, while for the platform, it would translate to more traffic and volume.
Adding liquidity is as easy as connecting your wallet online, while you can remove liquidity anytime you want to receive your tokens back. Terraformer also has a launchpad, where new projects can apply for IDOs. Projects like DeFiato, DragonSB, and BitLocus are projects that have successfully raised funds through Terraformer.
Moreover, the data and analytics as well as IDO stats database will increase transparency in the system, making it more credible and predictable for users. These services will serve as a conversion funnel for the platform to turn visitors into potential users.
Leveraging the NFT Market Growth With Terraformer
Terraformer is building an aggregator for the NFT space as well. It will bring together all NFT marketplaces on Terra, helping users with single-point access from the Terraformer platform. This facility will help save time and money for consumers shopping for an NFT. The NFT sales diversity in Terraformer will be available through a variety of formats, such as outright buy and bidding.
Two NFT-powered market segments growing fast these days are the GameFi and Metaverse. While GameFi already commands a market size of US$14 billion, the global metaverse market size would cross US$650 billion by 2030. The aggregation service of Terraformer will help leverage the growth in these areas without having to work on several platforms with diversified strategies for different segments.
All these developments align with Terraformer’s vision of providing what is required to make the space conducive for future blockchain users. According to its plans, the platform empowers the stakeholders with technology, community-centered funding avenues, a robust support network, and marketing capabilities. The native token TFM that is yet to launch and function as the membership asset of the ecosystem leading to increased access and discount, would bring more value to its holders as the ecosystem keeps growing.
