August 2020 Community Update

Sarah Kim
Sarah Kim
Sep 2 · 7 min read
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Hey Terrans,

With Anchor and the Columbus-4 Mainnet update currently in the works, August has been a great season of growth for us at Terra and our community. We’ve counted down the days until we reached 2 million accounts on the Terra network. This month alone, we’ve seen 6 CHAI integrations with leaders across a variety of industries — food delivery, cinema, and travel, to name a few.

We’ve witnessed the support of our community bring Luna to Binance and MXC Exchanges. We’ve had the opportunities to integrate Threshold Signatures and a Ren Bridge to Ethereum through partnerships with the talented ZenGo and Ren Protocol Teams, respectively. Most significantly, we’ve welcomed thousands of new Terrans to our community and look forward to seeing Terrans join across different regions.

Whether you joined the Terra community from its inception or today, thank you for playing a crucial role in shaping Terra!

Terra — ZenGo: Threshold Signature Scheme

As Terra continues to make strides in mass adoption through the payments app CHAI and upcoming savings protocol Anchor, secure key management for the masses is at the forefront of our minds at Terra. In light of this concern, we’re excited to partner with the incredible ZenGo Team to present Threshold Signature Scheme (TSS) as a solution. Incorporating the concepts behind that of using multisig and Shamir’s Secret Sharing, TSS removes the burden of a single private key and divides it between several parties, while maintaining privacy by ensuring transactions look identical to regular transactions. Additionally, Terra is partnering with ZenGo to bring their state-of-the-art wallets to Terra stablecoins and Luna in the near future.

Terra — Ren Protocol : Eth Bridge

We’re thrilled to announce that we’ve been collaborating with Ren Protocol to bring Terra stablecoins to Ethereum! We will update with the status as we move from staging to live! Ultimately, our goal is to bring Terra stablecoins to developers on every blockchain and we have been making significant headway through our work with the Solana, Polkadot, and Cosmos ecosystems.

Listings

Seeing the support of our community lead to new listings on global exchanges has been incredible, to say the least. We look forward to seeing Luna become increasingly accessible to our community all across the globe.

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LUNA listed on MXC Exchange
  • Binance — As of this month, Luna is listed on Binance, with trading open for LUNA/BTC, LUNA/BNB and LUNA/BUSD trading pairs.

CHAI Updates

Earlier this month, the CHAI Card held its soft launch, with a general public release scheduled within the next several months.

CHAI has been continuing to grow in usage, integrating with six huge merchants in August alone, which subsequently led the number of users to jump to nearly 1.9 million, of which nearly 60K are DAU, and approximately 65K transactions to be processed per day. To get a glimpse of how CHAI is used in daily life, check out this video posted by our community member.

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CHAISCAN Dashboard for 8/31/2020
  • Yogiyo, Korea’s food delivery giant owning 33% of the multi-billion dollar Korean food delivery market, integrated with CHAI. In a country with a food delivery-loving culture unlike any other, we’re not surprised to see Yogiyo transactions already heavily contributing to total network volume.
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Yogiyo contributing 8% of total payments and 12% of total txs within 3 weeks of integration
  • Hello Nature, an online grocer, has also been added to the list of merchants providing Terra-funded discounts. With more people opting for online deliveries than ever before, these integrations have come at the perfect time, allowing users to gain consistent discounts for essential purchases.
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Three top Interpark branches generate over $3.1 billion in GMV
  • Interpark Tour, Korea’s top tour agency synonymous with leisure, now allows people to gain discounts on all things travel-related. Though travel is highly restricted at the moment, we look forward to seeing the benefits that this integration will provide users once international travel is possible again!

Public Features

We’ve had multiple opportunities to share our take on DeFi and mainstream adoption across various audiences this month — Korea, China, and the broader Western audience! If you didn’t get to chance to watch these panels live, catch them here.

Grant Program

We launched our first ever Grants Program earlier this year in May, partnering with various teams to build the necessary documentation and tooling to lay down a secure foundation for the Terra ecosystem. We’ve been incredibly fortunate to collaborate with five top-notch teams, two of which have completed projects this month. Shoutout to the talented Chorus One and Figment Networks Teams for their invaluable contributions to the Terra network!

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Terra Network is now live on Anthem

Chorus One — Anthem

Investors in Proof of Stake (PoS) networks face the challenge of extracting accurate historical data from the blockchain, which can lead to issues around accounting and taxes. Rather than using APIs to query blockchain data, the Chorus One Team recognized the need for a powerful and sophisticated tool with faster performance, higher availability, and the ability to fulfill more specific queries.

The team took on the challenge of independently building a data extraction system customized for the Terra blockchain and launched Anthem, an intuitive, user-facing product enabling users to view blockchain transactions and extract staking-related data. Check out Anthem functionality for Columbus-3 for yourself here!

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Figment Networks — DataHub

Figment Networks has launched DataHub, a developer platform offering Terra developers managed infrastructure and resources. DataHub enables developers to directly access Tendermint RPC and Terra LCD (live blockchain data) via Figment’s highly available full node infrastructure. Developers can also submit transactions on Gateway Access and utilize the Transaction Search API without having to worry about maintaining blockchain infrastructure or doing custom integrations.

Essentially, thanks to Figment Networks, developers can stop worrying about running nodes and start building on Terra now! Test DataHub for yourself here.

Community Milestones

2 Million Accounts on Terra

Counting down to 2 million accounts, we hosted a prediction contest, with the top five winners sharing 2,000 Luna. We finally hit 2 million accounts on August 31, 2020! We’re delighted to celebrate this incredible milestone with our community and look forward to the best that is yet to come.

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Terra hit 2 million accounts on Aug. 31, 2020

Regional AMAs

This month, we have been able to introduce Terra’s vision in AMAs (Ask Me Anything) across various regions, including China, Russia, and Turkey, with more AMAs upcoming in Indonesia, India, and Vietnam. Upcoming AMAs are announced on our Twitter, so make sure to join us next time!

Terra 2020 Roadmap

For our community members who have been requesting it, we’ve released a Terra roadmap for the rest of 2020! The team at Terra has been hard at work bringing these ideas to life, and we look forward to seeing these goals come to fruition over the course of the remainder of 2020.

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While August has been an incredibly full month, we’re only getting started. We can’t wait to reveal many of the projects that have been under the wraps within the next few weeks, so stay tuned!

As always, please join our communities!
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Terra Money

Terra is a price-stable cryptocurrency that will power the…

Sarah Kim

Written by

Sarah Kim

Ecosystem Development Associate @ terra.money

Terra Money

Terra is a price-stable cryptocurrency that will power the next-generation payment network and grow the real GDP of the blockchain economy. https://terra.money/

Sarah Kim

Written by

Sarah Kim

Ecosystem Development Associate @ terra.money

Terra Money

Terra is a price-stable cryptocurrency that will power the next-generation payment network and grow the real GDP of the blockchain economy. https://terra.money/

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