PSA for Terra Classic/ $LUNC community:

Focus on building $LUNC utility.

A large community of lunatics was built around/excited about Terra's mint/burn that was was perceivably founded on organic demand of it's stablecoin's from many apps🧵

station.terra.money/proposal/colum… The community understood how mint/burn mechanism worked & while may have undermined risks, it was generally aware of the risks paused by downward spirals.
The depeg/attack crashed the whole system and at the same time brought tens of thousands of new community members into Terra.

#Lunatics - here is a long due update to the #Terra ecosystem map. Latest version @ terra.smartstake.io/eco. Project details @ terra.smartstake.io/projects

Some key numbers first (approximate):
🚀52 updates in 6 weeeks
🚀~150 active projects (excluding NFT collectibles)
🧵 🚀10+ terra based savings/payment solutions
🚀20+ current on/off ramp options (cex based) for different jurisdisctions
🚀15+ wallets supporting Terra Assets
🚀30+ non-terra platforms supporting UST or Luna tokens
🚀10+ chains where Terra assets will be flowing to soon (non-ibc)

#Lunatics - phew! 3 weeks is a really long time in #Terra to release a new version of the #Terra ecosystem @ terra.smartstake.io/eco. It's a different world now.

50+ new projects/services have released. #Terra ecosystem now has 131 active projects (and likely a dozen missing)
🧵 Rundown of the changes:

#New protocols/apps:
1 - @beemafinance - savings with Anchor protocol
2 - @ProtocolVoid - anonymous txs/mixer
3 - @miawtrader - meme
4 - @setten_io - alternative Mirror frontend
5 - @LighthouseDefi - part of original harpoon
6 - @terra__vegas - casino

#Lunatics - Given that Terra will have so many projects launching, this would be good time to note down few things on how you assess projects n not blindly fomo into every project

Tl;dr
- read intro articles/ama/watch podcast to understand what the project is about

🧵 2) - see if the project is solving a unique problem or doing something that you like
- asses the stage of the project. Is it just starting /has mvp/ when will it have MVP / is MVP a meaningful product

#Lunatics - there is a tsunami of new projects/integrations in the #terra ecosystem @ terra.smartstake.io/projects. Notable changes:

#TerraNFT lots of new projects (probably missing few)
➕@galactic_punks - first frontier of NFTs on Terra
➕@StardustMarkets - NFT marketplace

🧵 #TerraNFT ...
➕@TalesofTerra - Treasure the moments that make Terra. Collectable NFTs coming soon to @ProtocolTalis
➕@ForgeProtocol - NFTs Reimagined On Terra
➕@DerbyStars_HQ - Does Terra have an NFT game yet? Get ready and saddle up!

1/8 - $UST & it's peg stability:
- Watch this intro video to understand how Terra stables work:
- Last 6 months have seen an explosive growth in Terra network, its product & stable coin adoption

@terra_money 2/8 - At the same time, the community has grown many folds & some may not fully understand how stables work
- The events of last few days in crypto have been another humbling experience about how crypto works. X times price growth & huge corrections r part of how all chains work

1/15 - Smart Stake has voted yes on the proposal to burn the community funds.

In my opinion, there is nothing right or wrong about the choices on the table. Here are my thoughts on this topic and why I voted Yes:

https://twitter.com/crypto_inquisit/status/1395341865830948864

2/15 - Back in Oct 2020, I joined the Terra community when it was fairly small in comparison to where it is today
- At that time, the community was focusing on 2 things, adoption of Terra Network and there was a growing interest in Luna's deflationary nature

1/10 - My #Terra journey:

- 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

1/5) - Terrans - wondering whether to keep staking in your $Luna or you should use liquid staking to borrow $UST?

here is an earnings comparison:
1 - Luna staking
- $Luna + stablecoin rewards - 5-10%
- $ANC airdrop - 5-6%
- $MIR airdrop - 2%

@anchor_protocol 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

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

@terra_money #LunaToMoon 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