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Terra Luna proposed a governance discussion to create deep liquidity for stablecoins and Cosmos tokens ($ATOM) on Terra. This proposal is in line with Terraform Labs CEO Chris Amani’s plan to bring the highest stablecoin liquidity to Cosmos.
A proposal was submitted to whitelist $USDC-$USDT and $ATOM-$LUNA liquidity pool (LP) tokens to establish deep stablecoin and Cosmos token liquidity on Terra by Terraform Labs on February 15. The above-mentioned stablecoins will be whitelisted by the Astroport liquidity protocol as Alliance assets, with other liquidity pools planned in the future such as TIA-$LUNA, DYDX-$LUNA and others.
If the proposal is approved after governance voting, TFL will collaborate with Astroport contributors to create a stableswap $USDC-$USDT pool and an $ATOM-$LUNA PCL pool ahead of adding the Alliance assets. A $USDC-$USDT liquidity pool doesn’t exist yet, and the current $ATOM-$LUNA pool is less capital-efficient. Whitelisting LP tokens from pools containing $USDC, $USDT, and $ATOM as Alliance assets is a major development. It will help offer better APRs within Cosmos without DEX swap fee, attracting a broad user base to Terra.
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