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Kadena Partners With Stablecoin-Maker Terra in Bid to Expand Its DeFi Offering
The hybrid blockchain maker Kadena, said Tuesday it has partnered with Terra and will be adding Terra’s stablecoin luna to its decentralized exchange Kadenswap.
Updated Sep 14, 2021, 10:29 a.m. Published Nov 10, 2020, 4:00 p.m.
Hybrid blockchain platform Kadena is teaming up with stablecoin maker Terra with the aim of expanding its decentralized finance (DeFi) platform.
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Announced on Tuesday, Kadena said it will add Terra’s luna stablecoin to its decentralized exchange (DEX) Kadenaswap, which was announced earlier in September and is expected to roll out at the end of the year. Using its hybrid blockchain as the selling point for its DeFi offering, Kadena hopes to draw businesses and users looking to get away from the congestion on Ethereum-based platforms.
- Noting how congestion on the Ethereum blockchain can prevent DeFi applications from successfully scaling, Kadena's co-founder and President Stuart Popejoy said combining Kadena's "low-gas and high-speed transactions" can not only aid adoption but will also add interoperability between coins like Terra's and blockchains like Ethereum and Polkadot.
- According to Terra’s co-founder and CEO Do Kwon, the collaboration will mean that “Terra could process wrapped Luna transactions on Kadena’s DEX and then bridge to Ethereum,” he said in an emailed statement, adding this also expands use cases for Terra-based payments.
- Terra currently offers stablecoins backed by fiat currencies such as the U.S. dollar, South Korean won and the Phillippine peso.
- Kadena’s emailed announcement also said the first stage of moving Terra and other coins in and out from one network to another via Kadenaswap will be carried out in 2021.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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알아야 할 것:
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