LUNA and UST Now Available on 1xBit

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The popularity of Terra (LUNA) and the stablecoin UST has grown exponentially, and now these tokens are being added to 1xBit's list of permitted payment options.

1xBit is a crypto casino platform that has always strived to offer users new opportunities and functionalities. To offer even more transactional freedom, the platform took the decision to bring in LUNA and UST.

LUNA and UST stablecoin are cryptocurrencies whose value is mutually dependent on each other, coming from one of the most successful DeFi projects - Terra Network. 

The Terra Network's native cryptocurrency is LUNA. The purpose of Terra Network is to establish a platform that would allow developers to construct DApps and blockchains with unique use cases. Terra is most concerned with developing a lightning-fast blockchain infrastructure that allows for reliable programmable payments. 

LUNA is used for staking on the Terra Network and for assuring price stability of stable coins whose value is tethered to fiat currencies, such as the TerraUSD (UST), which is set to the price of the US dollar. 

Now, because UST's price is stable, bettors who use it as a payment on 1xBit don't have to worry about volatility. 

On the other hand, the price of the LUNA token has experienced an astronomical rise in price over the last year. In 2021, LUNA traded at $0.66 and closed the year at $89. This kind of price action can bring exponential earnings to its users.

LUNA is secured through a Delegated Proof of Stake consensus mechanism, which allows users to stake their coins to validate transactions. It is used to stabilize the price of the protocol's altcoins.

LUNA tokens are burnt to increase UST