As you may know by now, I’m all into DeFi, mostly on Terra. I’m gonna share with you the useful dApps, aka decentralized protocols that I use on Terra. There are so many dapps now vs last year. At the beginning of 2021 and the launch of COL-5 (Terra’s biggest mainnet upgrade) earlier this year, the number of users and dapps in the ecosystem went to an all time high.
People flocked into Terra and it did jump from sub $1 to around $50-ish as of today while I’m writing this blog post.
I’m deep in the Terra ecosystem where 99% of my assets are now on Terra, including NFTs.
Here are some of the dapps I use the most everyday, on Terra.
1. Anchor Protocol (app.anchorprotocol.com) – the second, and most successful dapp on Terra with the high TVL of almost 6 billion dollars. Yep, it just started this year and it has that much total value locked. This is where I borrow UST to buy more LUNA using my bonded LUNA. You can also save your stabelcoins here and earn a fixed 20% interest every year. So far, it’s the best savings protocol in the entire crypto industry.
2. Nexus Protocol (terra.nexusprotocol.app) – the recently launched dapp on Terra. This is where I provide liquidy on nLUNA-Psi and Psi-UST assets. I also stake them and earn a steady drip of Psi daily. Psi is the governance token of Nexus Protocol and it’s currenty valued at 30 cents each. If you lock your bLUNA in here, you get nLUNA in in your wallet and it maximizes yield just like you have a maxed out TVL on Anchor. You can also stake more ANC in Anchor governance to get more Psi in your wallet!
3. Coinhall.org – A useful tool to track assets on the Terra ecosystem. It’s basically my homepage now. Another useful one is finder.extraterrestrial.money. That’s my second favorite now as I love the UI on Coinhall better.
4. Terra Station – Of course, because without this, I won’t be able to connect to all Terra dapps. This should be #1 in my list.
5. Osmosis Zone (app.osmosis.zone) – Now you can trade Terra assets in here due to the fact that Terra is recently integrated with the IBC and assets in Terra specially LUNA and UST are now listed in Osmosis. Osmosis is a decentralized AMM in the Cosmos, with its own chain, called… you guessed it! Osmosis! You can provide liquidity here and stake your LP to make more moolahs. It’s like an automated money making machine. My current pools here are JUNO-ATOM, JUNO-OSMO. This dapps is not really within the Terra ecosystem, but I just love to share it with you guys.
That’s all for now!