Community Update — April 2023

It’s not easy to ship cool shit when the entire world tries to FUD you to death, but that’s precisely what the Terra community did in April. From the unveiling of Terra’s cutting-edge new Alliance module to the introduction of Enterprise’s user-friendly, no-code DAO management platform, there’s a lot to unpack in this month’s update.

Let’s get into it! 👇

🌎 Ecosystem Updates

Quick note: I also rolled a few March updates in here, as I didn’t get the chance to publish a March Community Update.

• TFL released Alliance, a powerful open-source economic tool enabling Cosmos blockchains to trade yield. By allowing multiple tokens to be staked on a single chain, earning native staking rewards, Alliance opens up a range of use cases that strengthen decentralized economies, including attracting users, liquidity, and developers, deepening liquidity for essential token pairs, incentivizing native application development, and diversifying or augmenting staking yield
• Using Terra’s Alliance module, Migaloo enabled an industry first when @0xFab1e staked bLUNA on Migaloo, earning native WHALE staking rewards in exchange for augmenting native WHALE staking yield via the bLUNA Take Rate
• Following the passing of prop 4717, I published a Medium article outlining what Alliance is, how it works, why chains like Migaloo and Kujira have decided to integrate it, and why it’s the perfect tool for Terra
• Enterprise launched its no-code solution for DAO management, enabling the ability to create multi-sig wallets, unite vibrant NFT and token communities, and manage DAO governance — all within one dynamic interface
• @TheLionDAO generated over 50K transactions on the Terra blockchain in one month, showcasing how dead simple creating and scaling a DAO can be using Enterprise
• Skeleton Punks launched NFT staking on Enterprise, allowing Skeleton Punks NFT holders to stake their NFTs to participate in governance and earn 30% of bLUNA fees from Backbone Labs’ Gravedigger
• Station integrated Kado’s on- and off-ramp for its 600K+ users in over 150 countries, enabling users to buy or sell USDC on Terra using fiat currencies like USD, GBP, and others directly to and from a bank account
• Eris Protocol launched automated arbitrage vaults for LUNA LSDs, allowing LUNA holders to earn LUNA via automated arbitrage strategies between LUNA and LUNA LSDs like ampLUNA, bLUNA, and others
• MC published a project spotlight on Eumlet, a next-gen payments platform creating opportunities for SMEs to transition to Web3
• Hermes Protocol announced its integration with Telegram, allowing users to log in via Telegram
• Neptune Finance, a money market protocol on Terra, provided a community update showcasing a new landing page and docs
• IBC, the communication protocol that currently links Cosmos blockchains like Terra and others, announced its plans for expansion to other crypto ecosystems, including Ethereum, Avalanche, Bitcoin, and others
• Station upgraded to v7.1.6, enabling new chain management settings, an enhanced staking display, and more
• Backbone Labs launched a cool new website detailing all of their offerings
• TFM announced its new IBCBridge, allowing users to bridge tokens to and from Terra and other IBC chains
• Orne published its March 2023 update
• Terra launched a dedicated forum on the Terra Discord for Station, Alliance, and Feather to enable community discussion, learning, and ideation
• Prism announced updated roadmap details, including a 1:1 airdrop for PRISM holders from Terra Classic
• Eris Protocol launched a UI to enable Alliance staking on Migaloo
• Migaloo hinted at an Alliance with Umee, showcasing the power of Alliance in cultivating mutually beneficial economic relationships between ecosystems
• White Whale’s @0xSenCom tweeted about building an auto-compounder on top of Alliance, which is something that could also be built on Terra
• Astroport upgraded its UI, allowing users to see cross-chain liquidity breakdowns, cross-chain volume breakdowns, and advanced pool filtering tools
• Capapult completed their CAPA farmdrop and airdrop campaign for LUNA delegators to their validator
• Backbone Labs launched their new NFT marketplace, Necropolis, offering zero platform fees for the first 60 days
• Eris Protocol shipped AmpZ, a wallet automation tool that allows users to define and automate DeFi strategies utilizing their wallet balance or by redirecting staking or LP yield
• @terra_money tweeted about what appears to be a new Javascript application exchange, jax.zone
• @vladjdk teased that Enterprise Protocol might be going interchain
• Kado released their Q1 2023 update

🏦 Governance Updates

• Prop 4717 to upgrade Terra Core to v2.3.1, incorporating the Alliance module and other upgrades, passed with overwhelming community support
• Prop 4716 to provide Lion DAO with a LUNA grant to demonstrate and promote Terra and Terra products passed with 65% voting Yes
• Prop 4722 to fund TerraSpaces with a community grant to continue recording, editing, and producing Terra community Twitter Spaces passed with 69% voting Yes

✔️ Follow @terra_agora on Twitter or the Terra Governance Alerts channel on Telegram to get alerted when a new Terra governance proposal goes live for discussion or voting.

🤝 Integrations & Listings

• Migaloo added the Alliance module to mainnet, incorporating ampLUNA and bLUNA as Alliance assets
• Carbon integrated Terra’s Alliance module, opening up opportunities for collaboration and ecosystem expansion
• Kujira integrated Alliance and posted a Medium article detailing how they may use it to strengthen their economy
• Umee listed LUNA as an available asset to lend and borrow on their markets

🎥 Media Features

• TFL filed a motion to dismiss the SEC lawsuit against the company and Do Kwon, pushing back on fraud claims related to Chai and the May 2021 UST depeg and citing: the SEC’s lack of authority to regulate cryptocurrencies; the unenforceable nature of the claims due to the SEC’s retroactive application of the interpretation of securities laws it now asserts in this case; factual gaps in their filing
• Paradigm, an unaffiliated third party and respected research and investment firm in the crypto industry, filed an amicus brief in the SEC lawsuit against TFL and Do Kwon, claiming that UST was/is not a security
• South Korea’s Seoul Southern District Court ruled that LUNA (now LUNC) is not a security
• @TheRyanLion released a tutorial video showing how Eris’s arb vaults work
• Rebel DeFi dropped a video explaining how Alliance works and how to stake LUNA LSDs on Migaloo via Alliance
• Orbital Command hosted multiple “Alliance Hour” Twitter Spaces, inviting guests like Phillipp from Eris Protocol, SenCom from Migaloo, PFC from Backbone Labs, and others to discuss Alliance use cases
• Skeleton Punks hosted a community AMA on Twitter Spaces
• RyanLion appeared on Just Crypto to discuss how he leveraged Enterprise Protocol to create and scale Lion DAO

✏️ Community Thread Highlights

• @dextermoney_ released a thread detailing plans for their new DEX, which focuses on Alliance assets
• @WhaleyDAO wrote a thread on Gini coefficients across Cosmos chains, showcasing the decentralized nature of Terra, as it had the second lowest coefficient aside from Kujira
• @orbital_command dropped a thread explaining how to stake LUNA LSDs on Migaloo via Alliance
• @N1C0 published a thread detailing Eris Protocol’s automated arbitrage vault

💬 Closing Note

Encapsulating a month’s worth of Terra events can be challenging, and I’m aware I make mistakes. If you find that I have inadvertently missed any important updates or if there are details that require correction, please share your thoughts in the comments section, and I’ll be happy to make adjustments. Thank you! 🙏