- in Oct 2020, was looking for a fundamentally strong project to validate in. based on a discussion with a crypto buddy that uses @SmartStake in multiple chains, started looking into Terra
- It was live for 16 months & starting as a validator is a no-no
2/10 - Seeing the fundamentals, the outward looking focus, decided to jump in & setup my validator
- Was a tiny community full of passionate folks Seb @NicholasFlamelX@kundunsan@Lu_It_Haeng Nacho, Aayush with firm belief that #Terra belongs @ #3 (after BTC & ETH)
- $Luna @ 0.30
3/10 - after remaining on the fringes for a bit, saw that community had questions about Luna supply changes ... more specifically, the reducing Luna supply and where it is going. Terra.smartstake.io was born to answer some of the questions
4/10 - Dec' 2020 bought 3 gifts from @d0h0k1 - @mirror_protocol was launched on 3rd Dec as a fair launch with lots of $MIR airdropped to $Luna stakers & $UNI holders. Event preceded by minting 70m+ $UST
1st dec - $UST - 17m, $Luna - 996m/$0.4
5/10 - 10th Dec - @BuzlinkO was announced as a referral program to boost #chai & payment use. It was an instant success as well.
In the meantime, $MIR was gaining usage steadily & $UST burning was increasing
6/10 - 17th Dec - @Mirror_Wallet app on mobile was released. Another instant success with a cool mobile app that allowed people to trade synthetics from their mobile devices. $100k UST trading competition helped as well
current - $UST - 1.32b, $Luna - 952m/$22, $MIR - 1.42b TVL, $3.2m mAsset mcap, $ANC - 100m TVL
10/10 - path forward -
🚀Terra ecosystem will have many projects launching near term
🚀$Luna @ #12 -> path to #3 continues
🚀$UST - path to 10b in 2021
🚀$ANC will be the gold standard in savings before EOY
What is your Terra journey?
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2/5) - Future genesis airdrops - $ANC airdrop gave 7% in one day by $ value - future launches may not match in airdrop value
- Risk - risk free staking
2 - Luna liquid staking - provide $luna as collateral (locked for 21 days like Luna staking). borrow $UST against collateral
3/5) - net borrow apy ($ANC farming) - 330%+
- net APR far outweighs standard rewards
- no staking rewards & no weekly or genesis airdrops
- Risk - liquidation risk of bLuna if Luna price drops
- you wont be staking with smart stake anymore 🤣
1/8 - #Terra $Luna supply future outlook analysis & its likely consequences
- to meet $UST demand, $Luna continues to be burned to mint more $UST
- 6.6m $Luna burnt in each of the last 2 days
- terra.smartstake.io/history shows the burn & supply metrics
2/8 - pace is expected to remain at this level in near future & if anything may increase when proposal station.terra.money/proposal/36 is passed
- assumption - all network parameters remain as is i.e. same $Luna price, same staking ratio, TFL holdings not required 4 burning $Luna
3/8 - assumption - same $UST demand as today or atleast enough demand to not require the reverse flow (i.e. burn $UST & mint $Luna)
consideration - 64.4m staked amount from TFL holdings is excluded from calculations (plays no role in outcome)