Conversation
2/ Today, none can deny that 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/ The alliance between and is the biggest ever formed in web3.
Details?
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7/ 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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8/ TFL will also put boots on the ground to grow Avalanche - has touched ground recently, and will create a cluster of top assets in the Avalanhce eco etc.
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9/ We call on every project to engage with the Terra community to grow together.
Decentralized economies need decentralized money, and happy to work on blitzscaling Avalanche's for the years to come.
🤝
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This identical to the reserve for btc, so ust can be minted directly on bitcoin blockchain? Cool but first I heard of that literal thing.
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As a btc native. No? Then is a different mechanism.
Open source code for how this works? Community approved and changeable. I love AVAX, love the alliance, but if folks can step in and change either or both chains' code on their own, it aint defi.
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From my understanding on downsides of losing peg then new luna was printed. While in the future this shouldn’t occur. Am I right?