Luna Foundation Guard (LFG) recently completed an over-the-counter sale of LUNA–raising $1 billion from venture capital groups led by Jump Crypto and Three Arrows Capital. Established in the Republic of Singapore, LFG is a non-profit organization that formed in January to help support the growth of the Terra ecosystem, and the sustainability and stability of…
The Terra community has passed a proposal to establish an exclusive partnership with a major U.S. sports franchise. Originally submitted by Terraform Labs, the company behind the Terra blockchain, the proposal requested 40 million UST from the Terra Community Trust (TCT) to secure a 5-year exclusive partnership deal that would see the Terra brand broadcast…
With a market cap of more than $170 billion, stablecoin adoption is exploding. The total market of stablecoins grew 450 percent in 2021 alone. Stablecoins are viable internet-native mediums of exchange between public blockchains, and act as the base layer and collateral for the DeFi space. The dominant stablecoins on the market today, USDT and…
Astroport will allow users to opt between different pool types within a single AMM system while leveraging support for all of Terra’s asset types. The stage is set for the swap and pooling functionality launch, as $1.2 billion in liquidity was successfully migrated from Terra’s DEX Terraswap to Astroport’s smart contracts. ASTRO generators’ dual distribution…
The long-held reign of DAI as the leading decentralized stablecoin, by market cap, has come to an abrupt end. One of the stablecoins within the Terra ecosystem, UST, now sits in the pole position of the largest decentralized stablecoin by market cap, earning UST a seat among the top 20 crypto projects by market cap….
As the market capitalization of Terra’s algorithmic stablecoin that tracks the value of the US dollar topped $8.5 billion–investors speculate what is driving the adoption and how exactly did UST manage to leave the competition lagging so far behind? While fueling the DeFi market, the decentralized stablecoin sector continues to rapidly grow. By leveraging unparalleled…
Andre Cronje, best known for creating the popular yield aggregator Yearn Finance (YFI), recently argued on Twitter that the DeFi sector should ditch the old buzzword and stop calling itself “decentralized”–in favour of a more accurate descriptive term. Although Cronje, who made a substantial contribution to the DeFi space, is ready to “retire” the coined…
Wormhole, a cross-chain interoperability protocol that connects high-value blockchains, has recently added user interface (UI) support for the Terra (LUNA) network. A single unified interface will enable users to seamlessly transfer tokens between Terra, Ethereum, Solana, and Binance Chain. Since the Wormhole cross-chain bridge is planned to replace Shuttle, the Terra-Ethereum bridge will eventually become…
Terraform Labs, the South Korean company behind the blockchain project Terra (LUNA), continues focusing on advancing the developer activity on the network. Meanwhile, the true impact of the network’s cardinal upgrade, dubbed Columbus-5, is yet to unravel, as the launch of Inter-Blockchain Communication (IBC) protocol and Wormhole support for Terra approaches. 160 more projects on…
Terra’s native savings protocol Anchor that offers high yield on stablecoins has reached a new milestone, recording $5 billion in total value locked (TVL). On-chain demand for Terra (LUNA) is mainly generated by the top two protocols, Anchor and Mirror. While Mirror allows synthetic asset trading, Anchor enables high-yield savings, offering an attractive 20% annual…