Terra (LUNA) and Cold Start Solution
According to Terraform Labs, up to $15 million has been injected into the Terra (LUNA) protocol, targeting liquidity for blue-chip assets like Bitcoin (BTC) and Ethereum (ETH). This capital was specifically injected into Astroport and Ura, the Terra community Decentralized Exchange (DEX), and spread across 11 pools. It solves the cold start challenge and provides liquidity for users to acquire and trade blue-chip assets, enabling developers to build DeFi applications on top of them. Terraform Labs is making partnership deals with projects to leverage blue chip liquidity to build DeFi on Terra (LUNA).
More Updates on the Broader “Terra” Brand
Other developments in the broader Terra brand include the approval of a major proposal for the v2.3.0 upgrade and the community’s decision to stop the minting of USTC. These developments show that the protocol is making efforts to regain its position in the market following the collapse of 2022. LUNA is the forked chain while community members chose to retain ownership of the LUNC protocol, and the ecosystem development of both chains is independent of each other.
Hot Take
The $15 million capital injection into the Terra (LUNA) protocol marks a significant milestone for its ecosystem, solving the cold start challenge and providing ample liquidity for blue-chip assets. The efforts to regain market position and the development of both Terra chains show promise for the future of the protocol.
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