Support for the Terra stablecoin in the Wormhole V2 bridge will allow users to transfer assets between Terra, Solana, Ethereum and Binance Smart Chain blockchains through a single unified interface.
The developers of Wormhole V2 talked about the Terra blockchain interface. The main function of the Wormhole V2 bridge, launched in September, is the direct exchange of cryptoassets between the Ethereum and Solana blockchains.
Terra Bridge is an interface for sending Shuttle tokens between Terra, Ethereum and the Binance Smart chain. Once the interface is fully launched, Shuttle token holders will be able to transfer their assets to Wormhole directly through the Terra interface. In this case, it will be possible to transfer not only UST or LUNA, which are now available in Wormhole.
The fact is that Wormhole V2 assets are incompatible with assets that exist in Shuttle, just like exchange wallets. Therefore, users need to make the transition. The Wormhole interface automatically scans wallets for wrapped tokens on Shuttle and then starts using Wormhole. Wrapped tokens are crypto assets temporarily moved to other blockchains. This allows them to work on the same chain with the assets of the receiving blockchain, even if they were issued on another.
The idea of ​​the developers is to phase out the Shuttle assets in the ETH and BSC chains. This will stimulate activity in the Wormhole liquidity pools, which in turn will increase overall liquidity and help create a more decentralized bridge. In late September, Terra rolled out the Columbus-5 update, which includes a deflationary pressure model on LUNA and increases Terra’s interoperability with other blockchains.
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