Terra (Luna) Network backs its reserve with $US1 Billion in Bitcoin and how you could make $US10 Million
The biggest news in crypto history just broke, don't believe me? In what The Block is calling one of the largest crypto raises in history has seen Terra Form Labs raise $US1 Billion worth of Bitcoin in over the counter sales of the Terra (Luna) Networks native token Luna. According to a Terra official announcement today The sale was led by Jump Crypto & Three Arrows Capital, with participation from DeFiance Capital, Republic Capital, GSR, Tribe Capital, & many others.
The Bitcoin which has been bought in a dip we might add. Will act as a UST Forex reserve that will ensure the continuation of the UST peg even in times of high market volatility. This no doubt will place UST in the top spot I hate to say I told you so but my article from one month ago Terra's Stable Coin UST Challenges for Top Spot in 2022. The writing has been on the wall for this one and I am pleased that you heard it here first!.
Also reported In The Block was Kanav Kariya, president of Jump Crypto, statement that the reserve mechanism “is similar to how many central banks hold reserves of foreign currencies to back monetary liabilities and protect against dynamic market conditions.”
The announcement alone saw Luna climb 14% to $US57 at time of writing and with further news of Luna Foundation Guard (LFG) seeking to expand their reserve with other assets, this will be a massive boost the consumer confidence in the Decentralised Finance (De-Fi) Protocol. The current token price isn't near its all time high of $US103 in December 2021 but it could put it on path with a strong price growth throughout 2022.
How you could make $US10 Million with Terra (Luna) Network
First of all this is not financial advice and readers should seek professional financial services but I have run some figures that I wanted to share with the broader audience on how you could make $US10 Million.
There are a lot of different strategies and you need to find one that works best for you or seek professional services and advice. At current Anchor Protocol offers 19.47% Interest paid daily that compounds so I utilised a daily compound calculator to find out how much I could earn over a period of time.
Most people will make additional repayments on their home loan and an additional $US500 a month over the 30 year period of the loan could reduce your 30 year loan to 24 years. This is a great outcome for many people as it reduces household debt and also provides collateral should something occur.
But if you took that same $500 a month and deposited it into Terra (Luna) Network's Anchor Protocol that same $US500 a month over the same 30 year period becomes almost $US11 Million dollars.
Perhaps 30 years is a little too long even just after10 years you will have $US400 short of $US190,000 and if we just look short term over a 5 year period which is how long I have been in the sector for, then you would have $US52,000. If I look at how much my current total value is which isn't $US52,000 and I have spent more than I have got as in most cases due to dips and peaks and being no0b than the better option would be Anchor Protocol.
Obviously this is high risk because no one knows if Anchor or any of the current cryptos will be here tomorrow. But if you're already wasting cash on crypto it might be time to re-access your approach.
Image sources provided supplemented by Canva pro. This is not financial advice and readers are advised to undertake their own research or seek professional financial services