Terraform Labs Acquires Pulsar Finance
Terraform Labs, the leading developer of the Terra blockchain, has announced the acquisition of Pulsar Finance, a startup specializing in cross-chain portfolio management and analytics. This news comes as Terraform is still dealing with legal disputes related to the collapse of the algorithmic stablecoin TerraUSD last year.
The United States Securities and Exchange Commission has sued Terraform for allegedly selling unregistered crypto asset securities and defrauding investors. Both parties have requested a summary judgement, potentially avoiding a full trial. Additionally, former head Do Kwon was found guilty of using a fake passport in an attempt to leave Montenegro.
The Acquisition Benefits
According to Chris Amani, Terraform’s former COO, the acquisition of Pulsar will provide an immediate boost to the company, allowing for the quick launch of cross-chain apps. This integration will enrich their technology stack and bring a talented team with a successful track record.
Pulsar’s analytics platform currently supports 96 networks and over 700 protocols, offering users an easy way to track performance across various tokens, DeFi positions, and NFTs. Their flagship product, Portfolio, will be integrated into Terraform’s Station cross-chain wallet, while their Data product will merge with Terraform’s infrastructure tools.
A New Focus on Utility
After Do’s departure, Amani stated that Terraform Labs needed time to adapt its strategy but never stopped building. The core principle behind TFL has always been utility, which they are now focusing on applying to the development of a blockchain ecosystem.
The terms of the deal were not disclosed.
Hot Take: The Future of Terraform Labs
Despite ongoing legal challenges and leadership changes, Terraform Labs is pushing forward with its acquisition of Pulsar Finance. With a renewed focus on utility and a talented team from Pulsar, it seems that Terraform is positioning itself for success in the evolving blockchain landscape.
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