February 2020 Terra Community Update

Do Kwon
Do Kwon
Mar 4 · 3 min read
No virus can kill a Terran.

Dear Terrans,

Hope the coronavirus outbreak isn’t bringing down your spirits. We’ve had several confirmed cases around our Seoul offices, so have transitioned much of the staff to a work-from-home arrangement. Although this has somewhat slowed down operations, there are many very exciting updates we have coming from February. Let’s begin:

  1. Terra validator KysenPool launches Harvest wallet & crypto finance platform Harubank offers 15% returns on KRT
KysenPool launches Harvest wallet

We are excited to announce that Kysen Technologies has launched Harvest Wallet, a “Crypto Financing Platform integrated with different lending and borrowing providers to enable you to easily earn High Interest on Terra network and manage cryptocurrencies.”

Read Kysen’s announcement here.

It’s important to note that Harvest ships with a strong focus on DeFi use cases around Terra stablecoins. Today, Harvest is integrated with Trinito, and Harubank, which offers 7% and 15% annualized returns on KRT deposits respectively. Via the Harvest launch, KRT has now become the highest interest yielding stablecoin.

Harubank launches 15% deposit product on KRT

Looking forward, we see Harvest becoming the leading gateway to many DeFi products to launch on Terra. We are looking deeply into leveraging staking derivatives to offer users a principal protected staking option, where users can stake Terra with service providers that swap user’s deposits to Luna to stake to the network and earn a delegation commission. We think this product can build an interesting new line of business for validators, where they can offer volatility protection for the staking token to court delegations, and give our community a new staking option with lower risk and volatility. We are looking to showcase this new product through Harvest.

Massive thanks & congratulations to the Kysen team for the launch!

2. Many exchange staking services launch for Luna

Several exchanges have launched in-exchange staking services for Luna in Feburary. While there are criticisms around exchange staking (e.g. what happened to Steem), they ship with interesting advantages over the vanilla version. For example, GDAC GROW and Node offers fast withdrawals (1 day vs vanilla staking’s 21 days) by maintaining a reserve of Luna tokens.

3. Jigu SDK has launched for Terra

Yesterday, we launched Jigu, a new Python library for Terra. Jigu enables you to write software that integrates with the Terra blockchain and its ecosystem, providing input validation, error handling, and automated marshalling / unmarshalling of blockchain data into objects that play alongside with native Python types.

We will be launching SDKs in different languages, starting with Javascript. Props to our Developer Relations Engineer that spearheads this effort, William Chen!

4. Chai updates

  • Chai sits at 1.2 million users today.
  • Chai has integrated with Market Kurly on 3/3, the market leader for on-demand fresh grocery in South Korea. With COVID limitting accessibility to offline grocery stores, Kurly has proven to be important infrastructure relied on by millions of users in safely getting access to food and supplies. The integration could not have been better timed, and we are thrilled to be working with Kurly going forward.

See you in a month!

-Do

Do Kwon

Written by

Do Kwon

Co-founder @ 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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