Hey LUNAtics,
May has been quite the month for the Terra community — the UST peg has healed after a period of high volatility for the market across the board. Industry-wide volatility stress-tested the stability mechanism of the Terra protocol and posed unprecedented challenges to Anchor Protocol, but has also been an incredible test of the protocol’s ability to continue providing stable yields (18–20%) under extreme conditions. The team has been adapting and making the necessary changes to make the protocol all the more anti-fragile to any similar market events in the future. Mirror Protocol functionality has proven to be largely impervious to market conditions and has celebrated MIR listing on a number of prominent exchanges: Crypto.com, KuCoin Futures, Coinbase, Binance, and Huobi.
Meanwhile, the team has continued to build and ship: the highly-anticipated Bombay Testnet has been released in preparation for the Columbus-5 Mainnet upgrade; WalletConnect has integrated Terra to enable full mobile functionality for Mirror Protocol, Anchor Protocol, and Terra Bridge; KRT top-ups have been enabled on CHAI (meaning Korea runs on Terra), and Anchor SDK has been released to enable third-parties to integrate Anchor savings in 7 lines of code. Apart from TFL-based projects, the Terra hackathon has displayed some of the brilliant teams that are already building on Terra.
One thing that has been made crystal clear over the last few weeks is that the LUNAtic community is unrivaled. To each individual that contributes towards educating newcomers on LUNA fundamentals, provides invaluable constructive feedback to the team, and remains unwavering in the vision, we’re glad to have you on the team and look forward to continuing to build and transform the future of finance — together.
🌎 Ecosystem Updates
- The IDEO and Delphi-backed Terra Hackathon was an incredible success, introducing some of the most innovative teams to the Terra ecosystem. Huge thanks to all who participated & submitted projects!
Announcement of the winners: 1) Orion Money; 2) ApolloDAO; 3) Angel Protocol & Suberra. - Terra is sponsoring HackAtom HCMC in June — sign up here.
- Project Spotlight #3: Spar Protocol — decentralized asset management platform powered by Terra.
- Project Spotlight #4: Harpoon Protocol — user-executed liquidation platform on Anchor.
- Unslashed Finance partners with Terra to provide user insurance for the UST peg.
- Pylon Protocol — leveraging Anchor yields for a number of creative use cases — releases an official introduction.
- Saturn Money integrates Terra stablecoins with their simple e-commerce payment gateway.
- NerveFinance supports $UST on its low-slippage AMM Pool on BSC.
- Transak’s fiat onramp to LUNA is live — a 0.5% fee with low slippage making it one of the best on-ramps into the Terra ecosystem.
- MathWallet integrates Terra, enabling easy access to Terra’s suite of products in one place.
- Nash integrates Terra to provide a fiat onramp to UST and other stablecoins.
- Flipside Crypto to bring community-enabled analytics to Terra.
- Ozone Proposal now up on Agora.
- Do x Elon NFTs courtesy of Picke Finance.
- LUNA/INR trades on WazirX.
- Educational Resources: Learn Terra, Orbital Command — Terra tutorials, What are Terra stablecoins?, Resource thread
- Incubators for Builders on Terra: DeFi Alliance & Syndicate Protocol. Connect with other builders here.
- Terra ecosystem airdrops: an airdrop timer for your airdrop needs.
⚙️ Technical & Product Updates
- Bombay Testnet goes live in preparation for the Columbus-5 mainnet launch — Bombay Github and forum with upcoming changes to the Terra network.
- Wallet Connect integrates Terra to enable provide full mobile accessibility across Anchor, Mirror, & Terra Bridge via Terra Station.
- KRT topups on CHAI debit card go live, meaning all you need is KRT for payments in South Korea.
- Anchor Earn SDK is released, enabling 3rd parties to easily integrate Anchor savings to their platform.
- Terra Rust Wallet library (community-run) now available on Github.
- TerraSwap dashboard (community-built) released.
⚓️ Anchor Highlights
- Coinone lists ANC.
- Anchor crosses 1B in TVL.
- Fees to claim airdrops on Anchor (originally $0.50) drop to $0.05.
- Anchor Earn SDK is released, enabling 3rd parties to easily integrate Anchor savings to their platform.
- Sneak peeks of the upcoming Anchor dashboard & multi-stablecoin support.
- Harpool Protocol releases public beta for DeFi liquidation on Anchor.
- Nexus Mutual provides protocol coverage for Anchor.
- Kash App — using Anchor Protocol on the back end — launches for Africa.
- Introduction to Pylon Protocol — protocol leveraging Anchor yields for a number of creative use cases.
- See all updates in the Anchor Community Update.
🪞 Mirror Highlights
- Crypto.com & KuCoin Futures list MIR.
- Coinbase lists ERC-20 MIR.
- Binance launches MIR Staking for up to 34.79% APY.
- mGLXY (mirrored Galaxy Digital Holdings Ltd) lists on Mirror Protocol.
- Ramp DeFi launches auto-compounding vaults for mAssets on BSC.
- Kash App — using Mirror Protocol on the back end — launches for Africa.
- PancakeSwap launches $mCOIN & $UST on the PancakeSwap Syrup Pool.
- Beefy Finance launches the $mCOIN-$UST PancakeSwap LP vault.
- NerveFinance supports $UST on its low-slippage AMM Pool on BSC, enabling swaps between stablecoins, UST, and mirrored assets.
- See all updates in the Mirror Community Update.
🎧 Features
- The Defiant: Camilla Russo interviews Do Kwon, The Defiant Newsletter, Terra Degen: Full Degen Mode on Anchor Money Market
- CoinDesk: Terra’s 25-Fold Price Jump, Alice Finance Unveiled
- Messari: Terra:The DeFi Giant Reaching Mainstream Adoption
- Yahoo: Matt Cantieri, Crypto Lead at Microsoft’s M12, joins TFL as Anchor’s General Manager
- TerraBites: Terra’s Black Swan Video & Recap, CHAI vs competitors, Weekly News Bites
- Features: Quantstamp — Protocols Bringing Derivatives to DeFi, Rockaway Blockchain Fund: Updated Terra Analysis, Everstake: Guide to Staking on Terra, Top Staking Coins, What is UST
- Community Reports: Fynn’s Weekly Terra Report, Protoss’s Blog for Korean LUNAtics, Could LUNA go to the moon?, Terra for Dummies
- Podcasts: The DeFi Download, Base Layer
- Youtube: CryptoCents — Addressing Terra LUNA’s UST Peg FUD & Misconceptions, EllioTrades Crypto — Why Terra has the most potential, Overview of the Terra ecosystem
- Important Threads:
Terra: Terra’s on-chain redemption mechanism, Effects of Volatility on the Terra Ecosystem, Terra’s Response to Events, Changes Columbus-5 Will Bring, Introducing Ozone, On Burning the Community Pool, Reasons to be bullish on $LUNA, Update on Wormhole migration, Vision behind Angel Protocol.
Anchor: Anchor — issues, measures, & developments, Anchor — events & response - Notable Tweets: Why Mars Protocol chose to build on Terra, THORChain — Terra on weathering a black swan event, Observations on Terra, Hashed support, Arrington XRP, UST Peg heals, $303M deposited on Anchor, Welcoming the Chairman, Hello @kciscrypto, Watching the Terra ecosystem grow, Accessing LUNA from fiat in the US, How to long UST.
- Messari Mainnet 2021 featuring Do Kwon coming up
As always, join our communities:
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