Flux and Terra will collaborate to integrate their ecosystems and deliver users the best of Web3. The cooperation will focus on deep integration, leveraging the ecosystems’ respective strengths, Flux wrote on their Medium page.
Building the internet of the future
Flux’s goal is to make the required resources and infrastructure available to developers to deploy their dApps on Web3 seamlessly.
According to Terra’s whitepaper, it aims to become the first stable platform and usable currency on the blockchain, achieving decentralization for merchants, mainstream users, and developers.
By collaborating, Terra is one step closer to its goal of achieving full decentralization in transitioning to Web3. Flux will also make progress by adding Terra’s state-of-the-art applications to its decentralized infrastructure.
Components of the collaboration
In the beginning, the Flux and Terra collaboration will include the development of Terra on the Flux ecosystem. The Flux token will launch on the Terra blockchain correspondingly.
The Flux ecosystem uses tokens on other blockchains to make the Fusion cross-chain bridge possible. It has improved access to DeFi as a result.
Zelcore, the official wallet and blockchain app suite of Flux, will support not only Luna but also KRW, UST, SDT, and other Terra-native tokens. Support for many CW20 tokens will be integrated too.
Direct access to centralized exchanges
All tokens available on the Zelcore backend can be exchanged or imported. The suite offers direct access to Binance, FTX, Kraken, and other centralized exchanges.
Flux CSO Daniel Keller commented:
The entire Flux team is looking forward to working with Terra. I have a lot of respect for the Terra team. They set a clear goal and vision for themselves, and they’re delivering on that vision with great dedication. I love their approach to DeFi and all the great opportunities their ecosystem provides for everyone in the blockchain space. I’m excited to think about the great potential of working with them and integrating our respective ecosystems. And I’m most of all happy that Flux can help them decentralize by deploying their applications on our powerful network of Flux Nodes. Flux has found a new friend and ally in the quest to bring Web3 to the masses. I think it’s fair to say that the future for Web3 looks brighter as every day goes by.
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