2/ Users will be able to buy and redeem call and put options on AntiMatter at a low cost, enabling risk-hedging and amplified price exposure to Terra assets.
3/ Non-oracle perpetual options eschew conventional oracle-based price feeds in DeFi for an arbitrage-oriented model that simplifies the user experience and maintains independence from external feed reliance.
Watching an established TradFi firm dive headlong into crypto underscores the potential of the crypto industry. As premier builders and market makers in crypto already, Jump Crypto opens up an array of new possibilities.
3/ @wormholecrypto and @PythNetwork are just the beginning. We look forward to a vibrant future with the Jump team, expanding our co-initiatives in liquidity, market-making, building, and other forms of collaboration.
1/ The Columbus-5 mainnet deployment will be delayed ~3 weeks until a new block height of 4,724,000, roughly equivalent to the following times:
9/29 at 20:30 PST
9/30 at 03:30 UTC
9/30 at 12:30 KST
2/ No need to fret, as the goal is to implement some extra precautionary measures for the rollout of Terra’s most significant mainnet upgrade yet to ensure the smoothest launch possible.
3/ For some context, the Columbus-5 mainnet upgrade is massive.
Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications.
2/ TFL will be converting its Shuttle bridge implementations to Wormhole, meaning that the Terra -- ETH and Terra -- BSC Shuttle bridges will be migrated to Wormhole, which will remain available on the Terra Bridge UI just with different back-end functionality.
3/ Solana will be added to the Terra Bridge UI as well, utilizing Wormhole. Stay tuned for further updates.
Eventually, the goal is for Terra Bridge to serve as the unified front-end for inter-chain transfers between Terra and other chains, including both Wormhole and IBC.
Introducing Week #5’s winners and a special new format for the next 2 weeks!
Check out the details below 👇
2/ After the first 5 weeks of the community content bounty program, we’ve discovered some truly talented content creators part of the #LUNAtics fam. We’ve also received some valuable feedback, which has contributed to internal discussions about modifying the program.
3/ In that light we’d like to introduce a new format for weeks #6 and #7 -- a 2-week, open-ended topic bounty pooling both weeks’ prizes ($3K total) into one bounty.
1/ Introducing the latest issue of Terra’s Project Spotlight, a special edition covering our valued partner network and one of the most fascinating application-specific blockchains in the Cosmos ecosystem -- @SecretNetwork!
2/ Secret is built on the Cosmos SDK and Tendermint, and is the only permissionless smart contracts platform to offer “privacy by default.” Secret Contracts allow queries from other application-specific chains in Cosmos to verify data integrity without sacrificing privacy.
3/ Known as “computational privacy,” Secret enables applications on the network to utilize encrypted data on the network without ever exposing the data itself -- even to network nodes. This supersedes the “transactional privacy” of most privacy-oriented public blockchains.
1/ We’re thrilled to introduce Terra’s new $150M Ecosystem Fund, which will propel Terra towards its next adoption phase; augmenting an accessible, cross-chain DeFi supersystem targeting mainstream adoption -- supported by the amazing #LUNAtic community.
2/ The onset of dozens of projects on Terra has induced the need to bolster the ecosystem’s capital & resource base to support its exponential growth effectively, culminating in the Ecosystem Fund to guide the development of Terra towards a brighter future.
3/ The Ecosystem Fund serves as a capital foundation for builders to access the resources of the industry’s leading investors to manifest their vision for apps, protocols, & tooling on Terra. Accepted applicants will unlock a line of communication with the ensemble of investors
2/ Pylon is the 5th app incubated by the TFL team, following Chai, Mirror, Anchor, & Nebula. Pylon similarly infuses itself with the theme of “looking outwards,” where adoption, accessibility, & use cases that appeal to the average user are powered by Terra’s DeFi ecosystem
3/ The idea enshrined in Pylon is to swap “payments-in-principal with payments-in-cashflow” using Anchor’s high-yield, low-volatility deposit rate.
Anchor’s ability to unlock new dimensions for user engagement with products and services is powerful.
1/ Terra’s integration with @WalletConnect — open-source protocol designed for dapp<>wallet connectivity — is now live, enabling users to access full Anchor, Mirror & Terra Bridge functionality through Terra Station.
2/ By deep linking each web application with Terra Station mobile, @WalletConnect enables users to simply manage their assets across the entire Terra ecosystem on the go.
Download Terra Station mobile & connect your wallet on the front page of the Anchor/Mirror/Bridge web app👇
1/ Extreme volatility produced a series of collateral effects across the Terra ecosystem, primarily derived from the short-term peg deviation of $UST and its impact on the volatility of $LUNA and levers of the Terra protocol. There’s a lot to unpack, so let’s dive in 👇
2/ Let’s start with the basics. The Terra protocol mechanism is quite simple:
When the supply of Terra stablecoins (like UST) goes up, the LUNA supply goes down.
When the supply of Terra stablecoins goes down, the LUNA supply goes up.
3/ As an algorithmic stablecoin network, Terra is akin to a decentralized, open-source central bank.
2/ With the threshold currently passed and roughly 96% of votes reporting "No," the community pool will be swapped out for $UST after Columbus-5 and used to bootstrap Ozone. More details will follow after the conclusion of the current voting period.
3/ The community's decision reflects the idea that community-funded growth from the treasury for a blossoming DeFi ecosystem on Terra is the optimal path forward for the network to maximize value and adoption in the long term.
For the first time in Terra’s history, seigniorage distribution to the validators/delegators and the community pool has occurred due to the sharp increase in UST demand -- equating to 24 million LUNA. This is NOT newly minted LUNA.
For some context, the Terra blockchain records "decreased LUNA supply during a week" as accrued seigniorage. The seigniorage is spent in two ways:
1. Oracle rewards: distributed to validators + delegators as staking rewards => increase staking rewards (released over 52 weeks).
2. Community pool: the treasury for the community.
As @mirror_protocol gains traction, it’s important to denote the mutually beneficial relationship between Terra, LUNA stakers, and Mirror’s adoption. Rather than purely being a synthetic assets protocol, Mirror’s adoption accrues value to LUNA stakers.
How does it? Let’s follow UST, Terra’s USD-pegged stablecoin. At a high level, Terra’s LUNA collateralizes its cadre of stablecoins, including UST.
When UST is trading above $1, arbitrageurs can burn $1 of LUNA to mint 1 UST and sell UST on the open market for a profit. When UST trades below $1, then arbitrageurs can buy UST on the market at a discount, and swap it for $1 worth of LUNA.
What are we passionate about? Founders getting to market as efficiently & frictionlessly as possible.
How do we make that happen? Free access to launch capital covering audit costs for selected projects. To be considered, projects must incorporate $LUNA, $mAssets, $UST (TerraUSD) or any of our other interchain stablecoins, in a meaningful way.