Oh! The Green Candles

This week in Web3 Wednesday:

• Bankrupt lending firm 3AC’s founders are launching a new crypto exchange GTX
  
• Iran and Russia join hands to launch a new stablecoin backed by gold
  
• Terra Station Wallet goes Interchain, opens support for Cosmos chains
  
• SushiSwap to launch DEX aggregator & decentralized incubator in Q1 2023
  

Bankrupt firm 3AC’s founders are launching a new crypto exchange GTX

The 3AC founders, Su Zhu and Kyle Davies want to raise $25 million for their new exchange – GTX.

According to the leaked pitch deck, the founding team of the GTX claims that the $20 billion crypto claims market should trade on a public marketplace.

Iran and Russia join hands to launch a new stablecoin backed by gold

The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new stablecoin backed by gold. The potential stablecoin aims to enable cross-border transactions instead of fiat currencies like the U.S. dollar, the Russian ruble, or the Iranian rial.

According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade.

Terra Station Wallet enters Interchain, opens support for Cosmos chains

After the collapse of the popular blockchain network Terra, developers have been trying to revive it, and many reforms have already taken place to build a sustainable DeFi ecosystem.

Among these reforms is a recent integration with Interchain Station. According to Jared, lead developer at Terraform Labs, more integrations and reforms are coming to Terra soon.

In a Twitter thread, Jared revealed that the Terra Network would partner with other blockchains, including SEI, Juno, Osmosis, Mars, Pisco, and many more. He said the integrations aim to protect the network in the right direction and allow seamless cross-chain communication between Terra and other blockchains.

The current station supports many mainnets, including LUNC, LUNA, Osmosis, Juno, Kujira, Carbon, HuaHua, and Cresent.

If this works out, Interchain Station might give tough competition to Kepler, currently the biggest wallet for the Cosmos ecosystem.

SushiSwap to launch DEX aggregator & decentralized incubator in Q1 2023

Leading decentralized exchange (DEX) platform SushiSwap is looking to increase its market share by 10x with the proposed launch of its DEX aggregator router and decentralized incubator in the first quarter of 2023.

SushiSwap Head Chef Jared Grey detailed his plans for the DEX platform in a Jan. 16 company statement titled Sushi Revitalized. As per the roadmap, SushiSwap is working to provide deep liquidity, optimal pricing, sustainable tokenomics, and an easy-to-use platform for its users.