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    Terra Bounty-Binance Comparison

    Blockchain bridge is a platform that allows the transfer of tokens and/or arbitrary data from one chain to another. Effective bridging is very important for growth of blockchain protocol as it can massively induce growth and assets inflows. Terra has a native bridge, which is called, well Terra Bridge. One of the supported blockchain is Binance Smart Chain (BSC). I believe BSC is one of the most important blockchain as they are quite well established, have a lot of TVL because of dirt cheap fees and also most tokens on Binance CEX can be seamlessly bridged between them. Wormhole V2 is a next-generation of bridging which allows for inter-chain DeFi. It unlocks a whole new dimension of cross-chain value and message transfer between the Terra economy, Solana, BSC, Polygon, and Ethereum. In this dashboard, we will compare some metrics of these two bridges.

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    TERRA-BSC Bridge

    First, let's have a look at the Terra-BSC Bridge through Terra native bridge. Below is the weekly volume of assets bridged from Terra out to BSC. Most of it involves $UST which I believe will massively helps the mass adoption of $UST. From second graph below, we can see that $UST accounts for more between 60%-90% most of the weeks. Second most bridged asset is $MIR which is Mirror Protocol Governance token which is quite surprising.

    If we take a look at transaction counts by daily assets bridged, the $UST domination seems more obvious, followed by $MIR and $mTSLA but it declines and wrapped $LUNA took over in recent weeks.

    Now let's take a look at bridge volume from Terra to BSC through Wormhole. Wormhole for Terra is very new and has been online since mid October so the volume won't be as much as the established Terra Bridge. On end of November and early December, we saw sudden spike in volume of assets bridged. But most of it involves $BTL, Bit Locus Token which I had no idea about but it totals up to over $8M USD. The week before, we also saw quite some volume (~15K) on whUST, which is $UST but in Wormhole wrapped version and also 20K worth of wLUNA. Other assets with significant volume that been bridged includes $ANC, $MIR, $ORION and various other stablecoins wrapped USDT, USDC and BUSD.

    WORMHOLE TERRA-BSC

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    Looking at the weekly transactions count, we can see a gradual increase in trend if we don't include the unusual $BTL token transactions. So, wormhole will definitely catch up to native Terra-BSC bridge because of the versatility and more blockchains support.

    Some of the difference that can be seen on both bridges are that on native vs Wormhole bridge are;

    1. That mAssets is very popular on native asset compared to wormhole.
    2. Native Terra governance protocol tokens like $ANC and $MIR also quite popular for bridging.

    Other than that, we can see both have gradual increasing trend and it will be up only from here. In conclusion, mass adoption can only mean one thing for Terra ecosystem, MOON! More ecosystem utilize $UST, more demand for $LUNA and WAGMI. So, very bullish for Wormhole v2. And it definitely will become one of the important protocol if the future is inter-blockchain.