Terra Tokenomics Lead to Market Surge, Bitcoin Reserve Hinted
The recent movements in the treasury of Terra, a decentralized financial payment network, which is now burning more than $4 billion worth of LUNA due to a governance proposal, have seemingly made the price of the asset rise to all-time high (ATH) levels. This rise has been also accompanied by new proposals to further cement the stability of its stablecoin, UST. Do Kwon, head of Terraform Labs, hinted at the inclusion of a bitcoin reserve to safeguard UST’s dollar peg. LUNA Booming The recent changes in the issuance model of Terra, which were brought by the recent Columbus....
Related News
Terra (LUNA) has been moving sideways during the past day but record impressive gains in the weekly chart with a 30.1% profit, at the time of writing. On the 1-year chart, the token has 8,794% in profits. The project has seen several partnerships. However, its core strength seems to be its tokenomics. Researcher and investor […]
Terra said it chose to denominate the Forex Reserve in Bitcoin because it considered the crypto asset "less correlated to the Terra ecosystem." The nonprofit organization focused on the open-source stablecoin network behind Terra USD, Luna Foundation Guard, has closed on a $1 billion raise through the sale of LUNA tokens.In a Tuesday tweet, Terra said Jump Crypto and Three Arrows Capital led the $1 billion round with participation from DeFiance Capital, Republic Capital, GSR, Tribe Capital and others. The platform said proceeds from the sale — $1 billion — would “go towards establishing a....
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....
Terra founder Do Kwon hinted at a future purchase of $3 billion worth of bitcoin to supply the reserves of the protocol in a recent Twitter Space shared with bitcoin enthusiast Udi Wertheimer. In the same Space, Do Kwon explained the new mechanics that the Terra ecosystem is introducing in order to use bitcoin as collateral for its flagship decentralized stablecoin, UST.
Do Kwon Directs the Terra Ecosystem to Bitcoin
Do Kwon, founder of Terra and Terraform Labs, made some important announcements regarding the future of the Terra ecosystem and its tokens in a Twitter Space hosted....
The growing interest in stablecoins, new partnerships and the improving state of the wider market back LUNA’s newfound bullish momentum. Altcoins continue to move higher while the price of Bitcoin (BTC) remains trapped in the $31,000 to $36,000 price range. The predictable range appears to be helping Terra (LUNA), a blockchain protocol that specializes in fiat-pegged stablecoins like TerraUSD (UST) to power a price-stable global payment system. LUNA/USDT 1-day chart. Source: TradingViewA quick scroll through the project’s Twitter feed indicates that the team behind LUNA has been busy as....