Christmas at every block?
Project Santa increases Luna staking rewards to 10%!
On Friday, August 9, our community launched Project Santa, a validator-driven initiative to create a stronger Terra ecosystem by increasing block rewards. The motivation was simple — given that Terra’s payment network was still in its infancy, the community saw the need to increase block rewards to offset validator costs, continue attracting high-quality validators, and incentivize more Luna holders to stake their tokens. Under Project Santa, a total of 21.7 million Luna was promised to be distributed over the next year to subsidize block rewards, with additional Luna to be committed if there is a need.
Only 4 days in and already Project Santa is a massive success! Check out the increased staking activity here: https://www.lunawhale.com
And here are some quick stats:
- Since Project Santa launched, our staking ratio has increased to 22.1%, with roughly 5 million additional Luna staked into the ecosystem.
- 21.7 million Luna translates to a 9.8% staking yield for holders, based on the 221 million tokens currently staked.
The response from our community has been explosive, and we see more and more people delegating Luna and taking part in Terra’s ecosystem. We can’t thank our Project Santa Validators enough for proposing and pushing through this project.
To encourage more people to stake their Luna, we’ve created a simple step-by-step guide for those new to Luna. Follow the simple steps and check your rewards pile up at every block.
Happy Staking, everyone!
Learn more about Terra on our website (https://terra.money/) and by following us on social media (Discord, Telegram, Twitter, YouTube).
