Why Terra Co-Founder Do Kwon Hyped Up This UST-based Airdrop

The Terra ecosystem keeps on expanding, increasing the total market cap of its native token LUNA. The cryptocurrency has managed to enter the top 10 digital assets by market cap replacing memecoins DOGE and Shiba Inu (SHIB). Related Reading | Terra’s UST Becomes First Decentralized Stablecoin To Surpass $10B Market Cap As of press time, LUNA follows the general sentiment in the market with a 4.4% loss in the last week, but some profits in lower timeframes. The Terra-based cryptocurrency trades at $49,58 and has seen much less loss than larger cryptocurrencies, such as Bitcoin and Ethereum, which record over 10% losses in the same period. Terra’s success seems supported by its protocol’s tool to provide users with vast opportunities to generate profits via staking or “locking down” their tokens. In that sense, the ecosystem’s stablecoin UST has also seen impressive growth zooming on Tether (USDT), and USD Coin (USDC), in terms of market cap. Via his Twitter account, Do Kwon, Terraform Labs Co-Founder, mentioned a new use case that seems poised to increase the demand for UST. Lending and borrowing platform Mars protocol announced the start of its lockdrop which incentivizes users to lock their UST to receive rewards. I’m coming in https://t.co/7jRgSEVR31 — Do Kwon 🌕 (@stablekwon) February 21, 2022 User will yield farm the protocol’s governance token MARS by locking any amount of the stablecoin for the next 3 to 18 mo...