Coin exchange rate
🌖 $0.7116 (-0.20%) 📉

🪙 $51,663.70 (-0.50% ) 📉

🌖 Terra Luna Proposes Deep Stablecoin & Cosmos Liquidity, USTC Price Up 38%

Terra Luna has proposed a governance discussion proposal to establish deep stablecoin and Cosmos (ATOM) token liquidity on Terra. The proposal is in line with Terraform Labs chief executive officer (CEO) Chris Amani’s plan to have the deepest stablecoin liquidity in Cosmos, becoming the only ecosystem that has “defi-sufficient” liquidity for both Cosmos and non-Cosmos blue-chip assets.

Coin exchange rate
🌖 $0.7287 (+2.26%) 📈

🪙 $52,415.63 (+1.47% ) 📈

🌖 Prices Zoom in Response

Chris Amani earlier conveyed that they are willing to run the infrastructure for all chains on Cosmos under the Foundation business model, cutting down the massive costs. It will be a game-changer for Terra ecosystem tokens, likely bringing back utility and developers.

Terra (LUNA) prices jumped 10% in the last 24 hours, with the price currently trading at $0.74, with the possibility of extending to $0.78. The 24-hour low and high are $0.673 and $0.748, backed by a 150% rise in trading volume.

LUNC price skyrockets 15% with over 120% rise in trading volume. The price is currently trading at $0.000136, with a 24-hour high of $0.000138.

Meanwhile, USTC price skyrockets 38%, with the price currently trading at $0.0369. The 24-hour low and high are $0.0268 and $0.0371, respectively. Trading volume increased by 800% in the last few hours.

Coin exchange rate
🌖 $$0.7179 (-1.68%) 📉

🪙 $51,833.10 (-1.06%  ) 📉

🌖 Terra Luna Classic Tax2Gas Proposal Sparks LUNC and USTC Revival to $1

Terra Luna Classic community votes on the key Tax2Gas proposal, which major step in the revival of LUNC and repeg USTC to $1. The proposal seeks implementation of the Tax2Gas approach on Terra Classic in collaboration with popular developer StrathCole and developer group Genuine Labs.

Tax2Gas will incorporate the tax into the gas and remove the need for separate handling and calculation. The proposal aims to increase the on-chain tax rate to 1.5%, which brings back to the original 1.2% burn tax, with 0.3% to fund the chain by the current on-chain 80/20% tax split.

Coin exchange rate
🌖 $0.6702. (-6.29%) 📉

🪙 $51,538.77 (-0.60% ) 📉

Coin exchange rate
🌖 $0.6557 (+0.73%) 📈

🪙 $51,875.80 (+0.48%) 📈

Coin exchange rate
🌖 $0.6595 (-0.17%) 📉

🪙$51,050.62 (+0.12%)📈

Coin exchange rate
🌖 $0.7031442609 (+3.45%) 📈

🪙$56081.715 (+9.32%)📈

🌖 Terra Announces Progress in Deep Stablecoin Liquidity

A proposal is submitted to whitelist USDC-USDT and ATOM-LUNA liquidity pool (LP) tokens to establish deep stablecoin and Cosmos token liquidity on Terra by Terraform Labs on February 15. The abovementioned stablecoins will be whitelisted from liquidity protocol Astroport as Alliance assets, with other liquidity pools such as TIA-LUNA, DYDX-LUNA, and more planned in the future.

If the proposal is approved after governance voting, TFL will collaborate with Astroport contributors to create a stableswap USDC-USDT pool and an ATOM-LUNA PCL pool ahead of adding the Alliance assets. A USDC-USDT liquidity pool doesn’t exist yet, and the current ATOM-LUNA pool is less capital-efficient.

Whitelisting LP tokens from pools containing USDC, USDT, and ATOM as Alliance assets is a major development. It will help offer better APRs within Cosmos without DEX swap fee, attracting a broad user base to Terra.

Users will contribute liquidity for these pairs and stake LP tokens on Station for LUNA rewards. It will provide benefits such as capital inflow to Terra and Cosmos ecosystems, new DeFi apps, trading volumes, new alliances, and low slippage.

Coin exchange rate
🌖 $0.7783 (+8.4%) 📈

🪙$62,660.23 (+7.72%)📈

Coin exchange rate
🌖 $0.7253 (-3.76%) 📉

🪙$61,862.28 (-0.87%)📉

🌖 Terra Classic Upgrade Vote

Just a few days back, the developers at Joint L1 Task Force (L1TF), the brains behind Terra Luna Classic, had their core security upgrade package proposal up for voting in the Terra Luna Classic community. It’s a step that came at the right time, given the various challenges faced by LUNC in its revival journey and the hopes for USTC repeg, despite a significant effort from crypto exchange Binance last year.

Proposal 12008, named “L1TF Terra Classic core security upgrade package,” was up for voting on the Station wallet. The goal of this proposal was – to enhance the security and stability of the chain by upgrading its core components. Additionally, i a step toward meeting the infrastructure needs for TFL support. It’s like giving the system a security boost and strengthening the foundations for a smoother journey ahead.

Coin exchange rate
🌖 $0.7996. (+11.39%) 📈

🪙$62,080.04 (+1.04%) 📈

🌖 Terra Luna Classic Passed Pay Per Job Proposal

Proposal 11889, titled “Pay-per-job and governance-ruled Job List, successfully passed”. The community wasn’t entirely on board with the monthly model of roadmap and payment planning, so they’ve decided to shake things up and switch to a pay-per-job model.

The support for the proposal was overwhelming, with a whopping 91.99% of “Yes” votes, and others mostly opting to “Abstain.” It was a sign that this change will optimize the compensation structure, bring in flexibility and transparency, ramp up community engagement, and tackle risk mitigation.

Out of the 56 validators in the game, 49 gave a nod to the proposal, and 7 decided to play it safe with an “Abstain.” Big names in the validation game, including Allnodes, Orion, Interstellar Lounge, Stakely, and StakeBin, gave their approval.

With L1TF transitioning into a “maintenance mode” for Q4, there’s a bunch of tasks waiting in the wings for attention on Terra Classic. The switch to a pay-per-job approach is expected to handle these tasks more efficiently. Moving forward, new job listings can be proposed through governance text proposals, complete with all the details – job title, a thorough description, budget, and estimated duration. It’s a fresh approach to get things done in Terra Classic!

Coin exchange rate
🌖 $0.8015 (-0.25%) 📉

🪙$61,690.42 (-0.57%) 📉

Coin exchange rate
🌖 $0.8488 (+4.97%) 📈

🪙$64,151.14 (+4.23%) 📈