One of the fastest-growing projects on Terra has laid out its roadmap and recent developments to users, addressing security, governance, and more.
Soluna’s Imminent Innovations
Soluna summarized the work it has been carrying out by providing an update on important progress in the short time since its launch–– and it is keen to keep up the pace.
The latest update regarding Soluna’s roadmap was made public via Medium and Twitter on April 9. The project has already asserted itself by becoming the ‘fastest growing project on Terra by [Total Volume Locked] TVL,’ and consistently maintaining the goals it outlined for itself.
“Soluna’s mission has always been to connect interest bearing Anchor assets to Solana in a unique way,” the team explained in its Medium announcement.
With the announcement of its staking capabilities and its governance token SLNA made soon after, in early March, the team has kept following through on its predetermined checkpoints. The hope for users is that the latest list of updates will also be seamlessly carried through.
What is to Come:
The team detailed the following developments in its Medium post:
Soluna has functioning decentralized governance through Tribeca with a large treasury
Security is one of the project’s main concerns, and most Solana programs have been analyzed with Soteria Pro
The rebase of solUST staking has been decentralized and functioning properly for over a week
The original vision of Soluna consistently included more sophisticated tokenomics and the team will explore the best path going forward
Soluna is partnering with several other projects to offer loans to be taken out on solUST and staked solUST
Soluna is working closely with another team developing a tool to make depositing into Soluna from any assets as easy as possible
What is Soluna:
Soluna is a cross-chain protocol that allows users to access stable, high yields on Solana’s Anchor assets. Anyone can use the protocol to transfer their interest-bearing assets from the Terra blockchain to the Solana blockchain. According to the Medium article, the best part is that it is done entirely without permission using Wormhole.
SolUST is the first token to be integrated into the protocol. SolUST is an Anchor dollar that is always redeemable for TerraUSD and earns interest.
Soluna used the Pylon Protocol to split the principal token’s interest and redirect it to a community-owned DAO. The yield will then be distributed to DAO members through veStaking on Solana.
SolUST is thus composable while retaining its interest-bearing properties. For example, after bridging SolUST to Solana, it can be traded and farmed on Saber.
Where to find Soluna
Source : web3wire.news
