The Terra community has began voting on the proposal to bring UST to Aurora, which now has a 98.5 percent acceptance rating, according to the most recent results.
According to the idea, a lending pool for UST on Bastion will be constructed, with the monthly UST incentive being paid out by Aurora, which serves as NEAR’s EVM layer.
Bastion will provide a lending market for UST in addition to the cUST/cUSDT and cUST/cUSDC Stableswap pools.
Initially, Terra will match Bastion’s BSTN emissions with UST incentives for the two pools, in addition to seeding a total of $5 million in liquidity into the UST loan pool to get things started.
Approximately $150k each month for a three-month period is expected to be spent on this project.
Terra will make every effort to maintain a 20 percent annual percentage rate by covering the remainder of the awards if the pools exceed $18 million in aggregate liquidity.
To ensure that consumers are sufficiently enticed to suffer the switching expenses, deposit, and trade UST on Aurora rather than merely recursing on Anchor, this is essential.
Read more about the Proposal Here