Terra (Luna) focuses on enabling users of Terra blockchain to think in terms of use cases as opposed to a focus on the infrastructure. The RFP is therefore left open for the Terra team to get some insightful ideas and to avoid use case overlooking.
Terra tweeted: “Terra is launching a grant program to improve ecosystem tools and products as well as to provide an overall better environment for community members. – Anchor (savings rate protocol) – Smart contract tooling – Node as a service – Open-ended.”
Terraform Labs team will be starting the Grant Program by rolling out four RFPs alongside an open community suggestion form.
The first two RFPs will be related to a new type of staking product known as the Anchor. This will require a new derivative token and a lending pool. The volatile nature of Luna did not motivate users despite high returns for staking Luna. Considering things, the Terraform Labs planned a design solution to protect the initial deposit principal. To get this going, they will be entertaining partners who can best understand Luna token and the fungible money market.
The next RFP will be about reducing the time to resync node in case of data corruption using backup data service. Universal access to Terra’s public ledger is the vision, and Terra Labs is looking at community-driven initiatives to provide robust and distributed available layer to access Terra Blockchain.
Sydney Ifergan, the Crypto Expert, tweeted: “Terra (Luna) understands the importance of passive income. This is very obvious from Anchor.”
The Anchor is one way for users to earn interest from Terra deposits. While the proof of stakes provides for interesting methods to earn rewards on the staked capital, the appeal for it is limited due to the price fluctuations of the underlying staking token.
Terra (Luna)money is focused on Anchor, wherein users will be able to earn an interest in Terra deposits by leveraging $Luna staking derivatives and a new liquid money market protocol, which is basically inspired by compound finance. The proposal is in the review period.
Terra tweeted about an announcement: “Our #DeFi service partner @trinito_finance (run by Dunamu’s subsidiary DXM) is now supporting borrowing and lending with $LUNA! Now you can – Borrow LUNA to stake and earn rewards – Borrow KRT with LUNA as collateral.”
The Terra Luna staking guide is already published. It is for users to stay tuned on how the many features work. A premiere release of Harvest #Wallet, which is a crypto financing platform that enables storing, swapping, and lending terra money stable coins to earn an 8% yield. Investors are staying tuned to avail of the benefits of several features.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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