After one week of trading, a Canadian tech business bridging the gap between traditional capital markets and decentralised finance just earned over $1 million (USD) in assets under management of its recently launched Terra ETP.
DeFi Technologies Inc. (NEO: DEFI, Forum) announced that its wholly owned subsidiary, Valour Inc., a pioneer in digital asset Exchange Traded Products, raked in total assets under management of the Valour Terra (LUNA) ETP sat at
$1,037,000 (USD).
Listed on February 28th, 2022, the Valour Terra ETP tracks the performance of LUNA, the native token of the Terra protocol
, a leading decentralized and open-source public blockchain protocol for algorithmic stablecoins.
Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol creates stablecoins that consistently track the price of any fiat currency and the Terra ecosystem is a quickly expanding network of decentralized applications. LUNA is among the top ten cryptocurrencies in the world by market capitalization, currently at $36.1 billion (USD), according to Coinmarketcap data from March 9th, 2022.
Valor CEO Tommy Fransson expressed pleasure to see the fast impact and interest for his team’s ETPs on new protocols.
“It is a further proof of our ability to meet client demand and be first to market with innovations. The launch of Terra has once again showed the sophistication of self-directed end client’s fast adaptation among our Nordic investors.”
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DeFi Technologies builds and manages assets in the decentralized finance sector.