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2/ Today, none can deny that

@avalancheavax

is one of the most exciting ecosystems in web3. It is currently one of the most heavily trafficked L1s with hundreds of apps spanning DeFi and gaming. The numbers are great:

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3/ But the future is even brighter for avalanche. Every bull market we are reminded of a need for a horizontally scaled future, as blockspace gets clogged and monolithic chains struggle. Web3 will run on multiple chains, and many of those chains will be Avalanche subnets.

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4:49 AM · Apr 8, 2022Twitter Web App

4/ The alliance between

@avalancheavax

and

@terra_money

is the biggest ever formed in web3. Details?

Replying to

5/ First, the $AVAX acquired by

@LFG_org

will be used to provision a large reserve against $UST using the automated mint mechanism identical to one designed for $BTC. = $UST will be able to be minted and redeemed against $AVAX, on Avalanche. $UST becomes Avax native

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6/ This means that as $UST adoption grows on Avalanche, $AVAX becomes more scarce - aligning the growth of the stablecoin with the L1's developers and users.

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will also start to cover initial bootstrapping costs for select projects that use $UST in the Avax ecosystem. Costs of audit in consortium with our various security partners will be covered.

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