$10M Fund From Cosmos-Based Terra Will Gladly Back DeFi Projects on Ethereum
The fund will pay for the one thing devs can't do internally: security audits.
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Terra’s native cryptocurrency, LUNA, has emerged as one of the best-performing digital assets of the past 11 months. Hong Kong venture capital firm Chiron Partners has launched a new ecosystem fund dedicated to Terra (LUNA), opening the door to new innovations for the layer-one decentralized finance, or DeFi, protocol.The Chiron Terra Fund I, also referred to as CTI, will deploy $50 million in capital to support innovative projects building on top of the Terra ecosystem. Projects at the intersection of decentralized finance and “metaverse-linked” nonfungible token platforms are eligible....
The idea of DeFi as a segment dominated by Ethereum is rapidly becoming an outdated concept. Binance Smart Chain, Polkadot, and Cosmos are all nurturing burgeoning DeFi ecosystems of their own. In the case of the latter, the last year or so has seen popular protocols including Terra, Kava, and Band Protocol all rapidly rise […]
Projects migrating from Terra to other ecosystems have made an example of how to adapt and regenerate after a catastrophic blockchain collapse. At the height of the 2022 bull market, the Terra ecosystem was booming with talent and innovation. The native token of the Terra blockchain had made its way to the top-10 cryptocurrencies by total market capitalization. Protocols were building the next iteration of a super cycle that seemed like it would never end. Terraform Labs created Terra amid the crypto market crash of 2018 and built it all through the bear market. The Terra ecosystem’s main....
The Columbus-5 upgrade took place on Sept. 30 and has introduced an overhaul in Terra’s tokenomics. Is LUNA more bullish because of this? Terra’s (LUNA) three-month rally saw its token rise by 674%, catapulting LUNA to the ranks of potential so-called “Ethereum killers.” LUNA has been on a tear lately because Terra’s most recent upgrade, Columbus-5, has effectively overhauled its tokenomics and brought significant changes to its technology.LUNA currently sits in fourth place in total value locked (TVL) among other blockchains, indicating its growing popularity for decentralized finance....
Polygon has launched the Terra Developer Fund to aid projects affected by the LUNA crash. Via its developer arm Polygon studios, the Ethereum scalability solutions will provide projects previous on Terra with financial support. Related Reading | Balenciaga To Accept Bitcoin And Ethereum Payments In The U.S. According to a post via its official Twitter handle, […]