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It is like Hive Engine - a side chain of Hive. Different in many ways, but to get the idea, that's how you can think of it. So, you need to move funds to VSC to use them there. I wouldn't move important amounts yet. Not much you can do with them there YET. But there will be some cool use cases there, once they are finished.
There is a great post here from @ifarmgirl trying it out
https://peakd.com/altera/@ifarmgirl/beta-testing-altera-defi-frontend
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