A week after the Terra ecosystem explosion that plunged the market into total panic for several hours, Do Kwon, the founder of Terra, presented a proposal to relaunch the project on Monday, May 16, 2022. This was done on the Terra Agora platform, but also in the form of a multi-part tweet:

This proposal includes the central elements already put forward on the night of May 13 to 14, 2022 by Do Kwon. On Agora, it is specified that the proposal “Terra Ecosystem Revival Plan 2” will be officially submitted to the vote on May 18, 2022.

In broad terms, the idea is similar to the one he presented recently: the Terra ecosystem is rich in valuable projects, and talented developers and it has a strong community, which makes, according to Do Kwon, so many reasons to save the Blockchain structure even without the UST. “Terra is more than $UST” as Do Kwon wants you to believe.

The important points of the Terra Blockchain fork proposed by Do Kwon are:

• Fork from the current Terra Blockchain, which will now be called “Terra Classic” (LUNC), to the new Blockchain, which will retain the Terra name and the LUNA token.

• The new blockchain will be developed WITHOUT the UST algorithmic stablecoin.

• The new LUNA will be distributed as an airdrop between people who own or have owned LUNA, in staking or not.

• A large portion of these tokens will be distributed to developers in the ecosystem in order to provide leeway and convince them to stay for the long term.

• Terraform Labs' parent company Terra's wallet will not be included in the airdrop so that the new Blockchain is completely self-sufficient.

• The staking reward rate of this new inflationary token will be 7%.

Not surprisingly, Do Kwon opted for a hard fork of the Terra blockchain, which would result in splitting the blockchain into two, the old one, Terra Classic, and the new one called Terra.

Do Kwon wants to give priority to maintaining the foundations

Regarding developers, they will benefit from an “emergency allocation” consisting of 1% of the distributed tokens as soon as the new Blockchain is set up so that they can continue to maintain the ecosystem and its applications in complete security. 4% of the total tokens will also be distributed over 4 years to developers in order to reward them, under certain undefined rules to be established by the community via a governance system.

Among the essential applications mentioned in Do Kwon's proposal, we find the most known of the ecosystem, such as the platform dedicated to Terra developers, Setten. We also find the Astroport, a decentralized finance platform (DeFi) widely acclaimed by the community, the Terra Station wallet, the StarTerra launchpad, the Axelar and Wormhole bridges, Nexus Protocol and others.

Technical details and distribution of tokens

One billion LUNA tokens will be distributed in the following way, in addition to the support provided to developers:

• 25% - Community pool, controlled by staked governance.

• 1% - Essential Developers emergency allocation. No lockup.

• 4% - Essential developers (1-year cliff, 4 years vesting thereafter, granted after launch traction)

• 35% - All bonded / unbonded Luna, minus TFL at “Pre-attack” snapshot

  • For wallets with < 1M Luna: 1-year cliff, 2 years vesting thereafter

  • For wallets with > 1M Luna: 1-year cliff, 4 years vesting thereafter

• 10% - Luna holders (staking derivatives included) at the “Launch” snapshot - 10% unlocked at genesis, 90% vested over 2 years thereafter

• 25% - UST holders at the “Launch” snapshot - 10% unlocked at genesis, rest vested over 2 years thereafter

The snapshot “Pre-attack” was taken on May 7th, 2022 at 23:00:04 (UTC+8). The “Launch” snapshot will be taken on May 27, 2022, at 3:59:51 (UTC+8). According to Do Kwon, Terraform Labs will be in charge of the preparation of the future infrastructure, its wallet, and the tools related to the development of the new ecosystem. The network validators will be responsible for coordinating the launch of the fork following the relative snapshot.

Timeline

• 05/17 - Announcement out

• 05/18 - Governance proposal out

• 05/21 - Terra Core release is cut, network launch instructions made available for validators

• 05/25 - Essential app developer registration completed

• 05/27 - Genesis file created from final launch snapshot

• 5/27 ~ Network launch

Note that the advanced dates are in UTC+8 (Asia Time).

Mainly negative reactions

Although the proposal has just been made and we can expect more information in the coming days, the reactions are mostly negative for the moment, with part of the community asking for a burn of the surplus LUNA and not a new Blockchain.

An idea recently supported by Changpeng Zhao, the CEO of Binance, who recently stated that the Terra fork would lead nowhere since it “would not create any new value”, and that the most appropriate solution would be to use Terra's BTC reserve with an appropriate LUNA burn to straighten out the UST peg.

The problem is that the reserves of the Luna foundation have already been thrown out the window last week in a vain attempt to repackage the UST:

More than 80K BTC were thus wasted in a totally unnecessary way in the middle of the turmoil. Such reserves could have been used in a more intelligent way probably. At the time of writing, LUNA is trading at $0.00018 and UST at a sad price of $0.08.

Feel free to use the comments to tell me what you think of this proposal by Do Kwon, and more importantly, if you think Terra can still escape extinction.

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What is Angel Protocol?

Angel Protocol is the world's first Decentralized Autonomous Non-Profit Organization (DANO) that aims to disrupt the charity model.

What's wrong with the way charity is being done you ask?

There's nothing wrong with charity per se, but being a nonprofit means that there is an inherent reliance on a constant stream of donations to survive.

As it is, 30% of nonprofits in the US face liquidity issues and 50% have less than one month of operating reserves.1

What is Angel Protocol doing to solve this?

Angel Protocol provides a decentralized donation platform that conveniently connects donors to partnered charities.

They’ve constructed a perpetual endowment framework that taps into DeFi products like Anchor & ApolloDAO.

This provides nonprofits with a constant stream of income, without needing to even touch the principal amount in their endowment!

"Give once, give forever"

How does this work?

Angel Protocol’s litepaper explains it best:

Donors can also qualify for tax relief via the tax receipts they get from charities if they opt in to a light KYC.

Governance

Without going into too much detail, there's two levels of governance.

1. Charity Level Governance

2. Protocol Level Governance

1. Charity Level Governance

Charity Supporters stake $HALO with their chosen charity in return for Charity Shares, allowing them to oversee charity-level governance.

For example, the Charity DAO can vote on proposals like emergency unlocking of funds, transfer of beneficiary, dissolution, etc

Source: @Delphi_Digital

2. Protocol Level Governance

$HALO stakers are also responsible for overall governance of the Angel DANO

$HALO stakers vote on proposals like treasury spending, development, committee appointments, etc

Source: @Delphi_Digital

In order to incentivize $HALO holders, yield from each charity's endowment is distributed back to both the stakeholders and the charity.

Source: @Delphi_Digital

If you'd like to take a deeper look into the $HALO token design, do check out the full paper below.2

Partnerships

Angel Protocol is powered by not just the community, but by partnerships with protocols, validators, and NFTs.

So how can you contribute?

When Angel Protocol’s V1 goes live in Jan 2022, you'll be able to donate to charities' endowments, stake $HALO, and participate in the Angel DANO.

Besides that, the Restore Earth campaign is currently ongoing til the end of the year.

In collaboration with Galactic Punks, donors are entitled to receive a Galactic Angel which will play a role in the GP metaverse!

Find out more:

You can get $HALO from:

- https://dex.loop.markets/swap#Swap

- https://coinhall.org/charts/terra/terra1yjg0tuhc6kzwz9jl8yqgxnf2ctwlfumnvscupp

At time of writing, DO NOT get $HALO from Terraswap, as the liquidity is on Loop.

Terraswap and Astroport pools will come in the future!

Note that $HALO was launched using the LBP method, this this evident from their price chart.

Hope you learnt more about Angel Protocol and are now inspired to "win and help win"!

Here's a brilliant 1m30s overview of $HALO:

A great recap of Angel Protocol & $HALO:

Disclaimer:

Nothing in this thread is to be taken as financial advice.

I am not working with or related to @angelprotocol, but I am personally invested in $HALO at time of writing.

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What is Minerva?

Minerva is a DAO platform that brings appreciating wine investments to investors on the blockchain. The DAO selects and verifies wine providers who are then authorized to publish Andromeda Digital Objects (ADOs) as proof-of-sale.

WTF are ADOs? ADOs are interoperable modular smart contracts where developers can customize their ADOs by selecting modules that they need via a no-code interface. An NFT 2.0, if you will.

Investors on Minerva’s platform can then use their ADOs as collateral and earn yield on the wine. ADOs are burned after proof of delivery should investors choose to collect their wine assets and any yield generated will be retained by investors. Delivery costs would be borne by users from their first year of yield.

It’s important to note that once redeemed, the art behind the asset won’t be burned but kept by the user as a new kind of NFT (without the rights to redeem obviously). This is just one of the many flexibilities that ADOs afford developers compared to a conventional NFT which is lost once burned.

Logistics

What makes Minerva different from other projects linking blockchain tech with real-world wine assets? These projects mainly utilize a centralized, platform-owned storage facility.

Minerva on the other hand allows merchants to retain custody of their own assets, thereby improving scalability and reach by removing the risk of a single point of failure of a centralized facility. This means that each merchant is responsible for delivery of the wine assets to end-users.

But how does Minerva plan to mitigate wine import/export restrictions? By incentivizing and promoting local (in-country/continent) delivery, Minerva aims to make the entire process as smooth as possible. Users who live in countries that do not accept international wine import will not be able to make these purchases and this guidance will be provided from the start.

Yield

Since wine takes time to mature, Minerva takes 90% (10% goes to a reserve vault) of the $UST that's paid and deploys them into the vault which utilizes multiple yield strategies.

These may include (and are not limited to) Anchor Protocol, Apollo DAO, Nexus Protocol, and Sandclock. The yield is then split between the merchant (70%), user (20%), and insurance/charity (10%).

$TORCH

$TORCH tokenomics take inspiration from Olympus DAO's $OHM. All $TORCH distribution is a function of sales occurring on the platform. This means that every newly minted ADO sale triggers the distribution of $TORCH to stakers & liquidity providers.

As such, any introduction of $TORCH into circulation is inherently backed by $UST. Redemptions can occur when $TORCH trades below its backed value, thus creating a support floor for the token.

Protocol-Managed Liquidity

You've heard of protocol-owned liquidity (POL), but have you heard of protocol-managed liquidity? Initially, the protocol adjusts rewards going to staking/LP, which then prompts users to move their $TORCH accordingly to optimize earnings.

Once platform sales increases and a balance between stakers and liquidity providers is achieved, an algorithmic approach can be used to modify the LP share of revenue based on the data collected.

This allows the protocol to manage its liquidity efficiently, making adjustments to LP share of rewards to combat volatility in trading volume.

Further down the line $TORCH holders could be able to input preferences in terms of min/max allocation towards staking/LP. What does this mean? Holders essentially surrender control and management to the protocol so they do not have to manually shift their $TORCH between staking or LP.

This move would further improve efficiency and optimizes profitability for $TORCH holders.

Conclusion

Minerva plans to bridge real-world wine assets with blockchain technology, supercharging the inherent value appreciation of wine with DeFi yields, benefitting both merchants and investors.

Minerva takes inspiration from OlympusDAO, but instead of being just another bonding protocol they are adapting it to their use-case in order to optimize yield.

POL has yet to be tested by a black swan event. Moving forward it will be interesting to see how Minerva and other protocols build on protocol-owned liquidity - will it prove to be the sustainable way forward?

Disclaimers

- Obligatory NFA and DYOR.

- This is an overview of the Minerva whitepaper which is still under community consideration and not yet publicly distributed.

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Top 10 Validators

What are Validators?

Validators are the miners of the Terra blockchain. They are responsible for securing the Terra blockchain and ensuring its accuracy. Validators run programs called full nodes which allow them to verify each transaction made on the Terra network. Validators propose blocks, vote on their validity, and add each new block to the chain in exchange for staking rewards from transaction fees. Users can stake their Luna to validators in exchange for staking rewards. Validators also play an important role in the governance of the Terra protocol.

https://docs.terra.money/Concepts/Protocol.html#validators

Let’s take a look at the top 10 validators on Terra by total voting power (total LUNA staked/delegated to them). Then we will discuss the factors that go into choosing a validator to stake with/delegate to.

Top 10 Validators - by total voting power

This is interesting! Most people who stake on the Terra network have known Orion.Money to hold the #1 spot by voting power for a long time. It looks like this has finally been flipped! We will go over why that happened later on.

Let’s highlight the top 5 to start.

1. Staking Fund - 25,058,003 LUNA

2. Orion.Money - 24,755,636 LUNA

3. B-Harvest - 18,633,804 LUNA

4. Certus One - 13,596,953 LUNA

5. DokiaCapital - 10,713,162 LUNA

Of these top 5 validators, they hold a total of 92,757,558 LUNA - 27.83% of all delegated LUNA.

So what attributes are important when selecting a validator?

Staking/Validator Criteria

We've taken a look at the top 25 delegators and the validators that they stake to, but why are choosing these validators? There can be many reasons why.

https://docs.terra.money/validator/faq.html

Things to keep in mind when choosing a validator to delegate your LUNA to can include:

• Voting Power

• Self-Delegation

• Validator Commission

• Uptime

Voting Power

Voting power represents the amount of LUNA that is delegated to a validator. In the percentage value above, that represent the percentage of LUNA out of all the total staked LUNA in the ecosystem. So in this case, B-Harvest has 6.93% of all LUNA voting power.

"Voting power is more an indicator of decentralization but not a validator rating. Moreover, in order to support decentralization, delegators are encouraged to split their stake between several validators and delegate to validators with less voting power. "(https://mlolalime.medium.com/how-to-pick-a-validator-in-the-terra-luna-ecosystem-fce4c9ea7826)

Self-Delegation

"Self-delegation shows what percentage of the staked Luna belongs to a selected validator. By checking this indicator you can assess the investments of the validator and how deeply it is involved in the chain. However, this percentage can be misleading because validators may also delegate to themselves from another address." (https://mlolalime.medium.com/how-to-pick-a-validator-in-the-terra-luna-ecosystem-fce4c9ea7826)

Validator Commission

Validator Commission is a bit more important to me as a LUNA delegator if we compare it to the last 2. It is basically what it sounds like - validators take a certain commission of the rewards from your staked LUNA. Many validators have 0% commission, meaning that all of your staking rewards go directly to you, but there are pros and cons to it.

"There are only several validators that have 100% commission meaning that their delegators will get only the rewards from airdrops. All other validators on the Terra Station have a commission rate of 20% or lower. It is worth mentioning that the validator commission is a percentage of the block rewards but not from the amount of the delegated Luna. For example, while staking 100 Luna with a delegation return of 12% annually, you are supposed to get 12 Luna. But with the validator commission at 10%, your final reward will be 12–12*0.1=10.8 LUNA. The validator gets 1.2 Luna in this case." (https://mlolalime.medium.com/how-to-pick-a-validator-in-the-terra-luna-ecosystem-fce4c9ea7826)

Uptime

Finally, we have uptime. It is exactly what it sounds like. 🙂

"Uptime shows the stability of the work of the validator, the higher the uptime the better the chances that the validator will not be offline and you will not miss your rewards." (https://mlolalime.medium.com/how-to-pick-a-validator-in-the-terra-luna-ecosystem-fce4c9ea7826)

Conclusion/Insights

I mentioned before, that most people who delegated LUNA on the Terra network have recognized Orion.Money as the #1 validator by voting power. There is another factor that I didn’t mention above, because it is not tied directly from the Terra Documentation.

Validators can incentivize delegators to stake with their validator by offering additional rewards in the form of tokens, NFTs, and other benefits!

Orion.Money guaranteed every delegator a percentage of ORION tokens - in addition to all LUNA stakers. If you staked LUNA, you got the airdrop. But if you staked LUNA with the Orion validator, you got an additional airdrop.

There are quite a few validators that offer incentives like this - a newer concept that was recently offered by the Galactic Punk validator. They offer the ability to win Galactic Punks by delegating LUNA to their validator!

I look forward to seeing how validators continue to come up with creative ways to incentivize their delegators!

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

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If you are familiar with Uniswap, SushiSwap and Curve Finance, you’ll know how valuable these protocols are to the Ethereum blockchain.

On Terra, a void must be filled and Astroport will change the game.

To preface this thread, it is important that you understand what Automated Market Makers (AMM) are and why they're important in DeFi.

@HideNotSlide explains it very well for the layman to understand:

1. So WTF is Astroport?

Astroport is an automated decentralized exchange protocol building on the Terra blockchain, developed by a joint venture entity formed and governed by Delphi Digital, IDEO CoLab, Terraform Labs and Astroport builders.

"The design philosophy behind Astroport is simple: to enable decentralised, non-custodial liquidity and price discovery for any asset. To achieve this, Astroport prioritises flexibility above all else; combining various specialised pool types and routing seamlessly across them."

If you've actually read their litepaper (31 min read), you'll know that Astroport is going to be an ever-expanding blackhole for all liquidity on Terra and beyond.

Let me explain why.

Firstly to understand Astroport, we need to understand how it stands out from other AMMs in crypto and DeFi.

Here are 3 key features we need to grasp:

• A // Flexible Pool Types

• B // Dual Liquidity Mining

• C // $ASTRO Governance & Value Accrual

A // Flexible Pool Types

I won't go very deep on this but here's essentially what you need to know.

Different AMMs use different algorithms to determine token prices based on the ratio of token pairs in a pool. As all tokens have different characteristics, various pool types were pioneered and created to suit different tokens for increased efficiency for both traders and liquidity providers.

The following pool type were pioneered by various protocols and are some of the most widely used across token markets:

1. Constant Product Pools (Bancor & Uniswap)

2. Stableswap Invariant Pools (Curve Finance)

3. Liquidity Bootstrapping (LBP) Pools (Balancer)

So how does @astroport_fi raise bar?

The chads behind Astroport have taken this one step further by creating a flexible architecture to accommodate pool types of any kind AND the ability to seamlessly create new pool types with only minimal changes to the core protocol code.

The mad lads have essentially created an amalgamation of the best innovations from the pioneers of AMMs in DeFi: Uniswap, Bancor, Curve Finance, Balancer

And we've just scratched the surface.

B // Dual Liquidity Mining

Gone are the days where liquidity providers need to face the dilemma of deciding where to focus their liquidity mining efforts because Astroport's ASTRO Generators will allow liquidity providers to receive dual governance tokens.

This enables simultaneous dual token farming of $ASTRO AND the third-party protocol tokens.

For example, when we deposit Anchor Protocol's ANC-UST LP pair into the Astroport's ASTRO Generators, we will receive both $ANC and $ASTRO.

Capital efficiency at its finest.

C // $ASTRO Governance & Value Accrual

Inspired by the gigachads at SushiSwap for their $SUSHI & xSUSHI mechanics; Astroport enables $ASTRO holders to stake their tokens in the xASTRO pool to receive more xASTRO, take part in governance, and accrue a share of trading fees.

As if that wasn't enough, the chads behind @astroport_fi (inspired by Curve Finance's veCRV model) enables xASTRO to be locked in the vxASTRO pool to amplify their governance power, receive an additional share of trading fees, AND access to boosted liquidity mining rewards.

Not only do $ASTRO stakers earn a share of ALL trading fees, the vxASTRO model fosters a healthy governance system while fairly rewarding both short-term and long-term holders respectively.

If you've been paying attention, you start to notice something.

The chads behind Astroport are creating a Frankenstein's monster of an AMM protocol, except that they're taking the best innovations of proven and battle-tested AMMs in the industry.

2. Astroport will host a best-in-class UI/UX in any AMM in DeFi

Having the best UI/UX among dApps has always been a key feature of Terra protocols, but Astroport completely changes the game.

Not only will Astroport provide traders with a great user experience, but now liquidity providers will actually know how much money they are making through Astroport's personalized user dashboards.

Being able to have an overview of all your liquidity pools, know how much impermanent loss you're incurring, and knowing your profit or loss of each individual pool AT A GLANCE is basically a DeFi superpower.

You can read more about it in @astroport_fi's Twitter thread:

3. Astroport will be one of the biggest TVL black holes in Terra (and perhaps beyond)

If you've used Terra's current offering of DEXes and AMMs, you'll know that they're decent and get the job done, but they could be doing so much more (no dramas, only innovation).

Terraswap and Loop Finance combined make up for $1.34 billion TVL in the Terra ecosystem. That's really decent for a growing chain, and Terraswap doesn't even have a governance token!

However, let's look at the other Layer 1 Blockchains. Excluding Ethereum for obvious reasons but let's look at alt-chains which have a similar TVL compared to Terra.

Just looking at Solana, the combined TVL of $RAY, $SRM, $SBR and $ORCA absolutely dwarfs Terra's $1.34 billion TVL.

When looking at Avalanche's native AMMs, the combined TVL of $JOE, $QI and $PNG is already $3.86 billion.

Without diving too deep into the numbers, you can see that the Terra ecosystem has some catching up to do in the AMM department. Astroport fixes this.

By adopting a flexible architecture for liquidity pools, Astroport greatly expands its Total Addressable Market by effectively catering to token pairs of any kind.

Essentially combining the use cases of multiple dApps into one.

Lastly, with the implementation of @wormholecrypto's Wormhole V2 in the Terra ecosystem, this opens limitless opportunities for cross-chain capability, allowing users operating on other chains to seamlessly interact with Astroport.

Literally a cross-chain space station.

4. So why does this matter to Terra, $LUNA and $UST?

An AMM is the most important primitive and is the core building block of any DeFi ecosystem.

Allowing assets to freely flow in a trustless and capital efficient manner is paramount in a decentralized economy.

Astroport coupled with Columbus-5 and Wormhole V2 will open Terra's floodgates to liquidity from across the metaverse, while enabling $UST pairs for all assets beyond the Terra blockchain.

This further increases the ease of access for capital to settle in Terra, amplifying the adoption of Terra stablecoins and ultimately accruing value back to the apex asset $LUNA.

TLDR: Numba go up, DYOR, NFA.

DISCLAIMER

I am in no way related or working with the @astroport_fi team and I have no vested interest in the project and $ASTRO.

I am merely interested in the project. However, I am invested in the $LUNA and other projects in the Terra ecosystem.

Information written here is purely educational and is my own opinion. Nothing I say should be constituted as financial advice, do your own research, and please consult with a professional before making a particular investment.

REFERENCES

Some good reads from members of the community that inspired this thread.

@TheMoonMidas's "Venice of the Stars":

@ZeMariaMacedo's Astroport alpha leak:

@DeFi_Maestro's TLDR of Astroport’s Litepaper:

@astroport_fi's Token Drop:

Thanks for reading! I’d like to hear your thoughts as well.

If you want to see more articles or threads like this, do reach out and follow me on Twitter at @GabrielGFoo! I write about various topics including (but not limited to) Terra, blockchain, NFTs etc.

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Methodology

All of my data was created via Flipside Crypto infrastructure.

First, it is important to document my definitions. For this analysis, I first explored all of the transactions with msg_type = 'wasm/MsgExecuteContract' (I decided to look at only transactions with msg_type = 'wasm/MsgExecuteContract' because it represents the things that matter the most on Terra. Smart contracts! Protocols! Dapps!)

I used terra.msgs for my queries. No other data was needed.

Let's get into it!

Transaction/Addresses

First, let's look at a summary of all transactions (with msg_type = 'wasm/MsgExecuteContract')

Total Transactions - Last 90 Days

You can see here, there have been 11,835,212 transactions for the last 90 days. Here is a running total to get an idea of the rate of these transactions.

Total Transactions - Last 90 Days

Now who are the people making these transactions? How many addresses were there?

After querying, I found that of these 11,835,212 transactions - there were only 191,146 addresses signing those transaction.

Total Addresses (senders) - Last 90 days

Of those 191,146 addresses, who are the folks signing the MOST transactions?

Let's look at the top 20.

Top 20 Active Addresses - Last 90 days

The top 20 addresses range from 490k to 30k transactions. Wow!

It is interesting to see the total transactions that these addresses can handle, but the information that I find more interesting is WHAT they are transacting WITH/FOR. What protocols, contracts, dapps?

Let's take a look.

Contracts/protocols/dapps

We've given a summary of the total number of transactions, addresses, and the high activity addresses. Now let's find out what contracts they are interacting with!

This might get tricky, fast.

First, how many contracts have been interacted with in the past 90 days?

Total Contract Addresses - Last 90 days

Let's break down our numbers so far:

• Total Transactions: 11,835,212

• Total Addresses: 191,146

• Total Contracts: 2,179

Lots of transactions, lots of addresses, and lots of contracts.

What are the most active contracts? Let's take a look at the top 30 by the number of total transactions. Not USD volume. (I want to calculate this sometime)

Top 30 Active Contracts - Last 90 days

The top 30 most active contracts range from 977k transaction to 86k transactions.

This great, but what/who are these contracts?? What protocols/dapps are being used?

Let's look at all top 30. (I pulled all 30 of these manually from

https://finder.extraterrestrial.money/ )

Top 30 Active Contracts (transactions) - Last 90 days

1. terra1cgg6yef7qcdm070qftghfulaxmllgmvk77nc7t - Anchor Price Oracle

2. terra1eek0ymmhyzja60830xhzm7k7jkrk99a60q2z2t - RandomEarth

3. terra1sepfj7s0aeg5967uxnfk4thzlerrsktkpelm5s - Anchor Market

4. terra1w8t3fkm80sud5z9yr86tfcxz675mj85p8prauc - Mirror Relay?

   1. Hasn't had a tx since Columbus-4

   2. Relay Transaction https://finder.extraterrestrial.money/columbus-5/tx/9BEFB0C3D224653CE82D537E235E9AD243DDFBA9CDC7629DA0582EF9D4288747

5. terra1tndcaqxkpc5ce9qee5ggqf430mr2z3pefe5wj6 - LUNA-UST Pair Terraswap

6. terra1t6xe0txzywdg85n6k8c960cuwgh6l8esw6lau9 - Mirror Oracle

7. terra183uw6660lrpzfh0rdfa3rrn24m3ke7qffgmfrd - Mirror Relay?

   1. Tx on Col-5, replacement for old Mirror Relay?

   2. Relay Transaction https://finder.extraterrestrial.money/columbus-5/tx/09F9892614DE2D3A099200298E674D93B17665F8E5DDB5A72240D0B8AECDFFE0

8. terra14z56l0fp2lsf86zy3hty2z47ezkhnthtr9yq76 - Anchor Token (ANC)

9. terra146ahqn6d3qgdvmj8cj96hh03dzmeedhsf0kxqm - Anchor Airdrop

10. terra1hzh9vpxhsk8253se0vv5jj6etdvxu3nv8z07zu - aUST Token

11. terra1kalp2knjm4cs3f59ukr4hdhuuncp648eqrgshw - Mirror Airdrop

12. terra1kcthelkax4j9x8d3ny6sdag0qmxxynl3qtcrpy - Pylon Token (MINE)

13. terra15gwkyepfc6xgca5t5zefzwy42uts8l2m4g40k6 - Mirror Token (MIR)

14. terra17f7zu97865jmknk7p2glqvxzhduk78772ezac5 - Mirror Staking

15. terra1kc87mu460fwkqte29rquh4hc20m54fxwtsx7gp - BLuna Token

16. terra1vs9jr7pxuqwct3j29lez3pfetuu8xmq7tk3lzk - Assert Limit Order Terraswap

17. terra13xujxcrc9dqft4p9a8ls0w3j0xnzm6y2uvve8n - StarTerra Token (STT)

18. terra1ud39n6c42hmtp2z0qmy8svsk7z3zmdkxzfwcf2 - Pylon Airdrop

19. terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8 - Anchor Overseer

20. terra1dy9kmlm4anr92e42mrkjwzyvfqwz66un00rwr5 - Valkyrie Token (VKR)

21. terra12897djskt9rge8dtmm86w654g7kzckkd698608 - Nexus Token (PSI)

22. terra178jydtjvj4gw8earkgnqc80c3hrmqj4kw2welz - MINE-UST Pair Terraswap

23. terra19pg6d7rrndg4z4t0jhcd7z9nhl3p5ygqttxjll - STT-UST Pair Terraswap

24. terra1kehar0l76kzuvrrcwj5um72u3pjq2uvp62aruf - Spectrum Mirror Farm

25. terra1ude6ggsvwrhefw2dqjh4j6r7fdmu9nk6nf2z32 - Valkyrie Staking

26. terra1jxazgm67et0ce260kvrpfv50acuushpjsz2y0p - bLUNA-LUNA Pair Terraswap

27. terra12kzewegufqprmzl20nhsuwjjq6xu8t8ppzt30a - Nexus PSI-UST LP Staking

28. terra1g7jjjkt5uvkjeyhp8ecdz4e4hvtn83sud3tmh2 - Apollo Factory (zap strategies)

29. terra1fxwelge6mf5l6z0rjpylzcfq9w9tw2q7tewaf5 - Spectrum Staking

30. terra1gm5p3ner9x9xpwugn9sp6gvhd0lwrtkyrecdn3 - ANC-UST Pair Terraswap

How about over time? I created a massive CASE statement that renamed all of these contracts to their names, because who wants to look at contract addresses?

Top 30 Active Contracts (transactions) - Last 90 days

Top 30 Active Contracts (transactions) - Last 90 days - stacked

As you scroll through the interactive chart - it is super interesting to see the new protocols introduced with Columbus 5 become more active than the older contracts.

Top 30 Active Contracts (transactions) Running Totals - Last 90 days

Top 30 Active Contracts (transactions) Running Totals - Last 90 days - stacked

Insights/Conclusion

Wow! Some incredible numbers/metrics showing the volume of transactions with the contracts/protocols involved.

We mentioned before, for the last 90 days:

• Total Transactions: 11,835,212

• Total Addresses: 191,146

• Total Contracts: 2,179

Then we looked at which contracts these addresses were interacting with.

The part that I find most interesting, is the activity and number of protocols post-Columbus 5.

When we look at the charts above, notice the difference between August/September and October/November.

It is super interesting to see how quickly RandomEarth has become the most active contract in the recent months. During Columbus 4, it was almost ALWAYS the Anchor Price Oracle and Mirror Relay!

During Columbus 5, it seems to be much more widespread. RandomEarth is definitely #1 most days, but the #2-#5 spots seem to jump around. Mirror Relay remains a high activity contract, but Valkyrie Token, Nexus Token, and others seem to be throwing in a few high activity days as well!

Super cool to see the volume when RandomEarth first went live with Galactic Punks! We haven't been able to recreate that yet! 😉

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

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NFTs on Terra - Overview

NFTs are a fairly new/young concept for the Terra ecosystem. Let’s go over a few things that will help new folks understand a little bit about NFTs on Terra. I want to talk about the marketplaces available, a couple of the early NFT projects, and then break down the total volumes on the marketplaces.

There are more marketplaces than I will discuss in this article, but I’d like to give a shoutout to the following project, because they may have larger volumes in the future!

• talis.art

Let’s talk about the marketplaces first.

Marketplaces

Where can someone go to get involved with NFTs on Terra? There are a few different options.

knowhere.art

The first NFT marketplace on Terra was knowhere.art

from: https://twitter.com/knowhere_art

Knowhere was the first marketplace/auction-site for Terra NFTs. It first introduced Spaceloot as the first NFT collection on Terra. I won’t go into the details of Spaceloot, but it is nice to know that it was the first collection on Terra!

RandomEarth.io

Next, we’ll talk about RandomEarth. RandomEarth was the 2nd NFT marketplace on Terra, and it is currently the most popular marketplace by volume.

from: https://twitter.com/randomearth_io

As I mentioned before, RandomEarth may not have been the first marketplace on Terra, but it is by far the most popular by overall volume.

RandomEarth is also the original marketplace + minting site for the famous Galactic Punks. Read more about Galactic Punks here: https://galacticpunks.io/

Terra NFT Volume

Now that we’ve learned a little more about Terra NFT marketplaces, let’s look at the total volumes.

First, all of the charts/graphs are interactive via the following dashboard - please take a look: https://app.flipsidecrypto.com/dashboard/total-nft-sales-on-terra-NQORiL

First, we will look at RandomEarth. Then knowhere.art.

We can see here that Galactic Punks has almost 600,000 total LUNA traded on RandomEarth.io alone! Followed by LunaBulls, Terrapins, TerraWhales, Styllar, and Levana Dragons. Here are the top 6 volumes.

Now let’s look at knowhere.art

Here we can see Galactic Punks remains the #1 volume traded on knowhere.art as well. It is followed by Astroverse V1, SpaceLoot, Terra Cards, wagmimonkeez, and Levana Dragons. Here are the top 6 volumes.

Now let’s combine. It is nice to look at each marketplace individually, but let’s combined the volumes for those who are traded on EACH marketplace.

Here we can see that when we combine the volume on both marketplaces, Galactic Punks has just over 623,000 LUNA traded. At the current price of $41.00 per LUNA, that equates to 25.5 Million USD. Wow!

The top 6 for overall volume is the same as the top 6 for RandomEarth. Some do gain some volume via knowhere, but the top 6 remains the same.

I am looking forward to doing more in depth analyses for the total NFT volume on Terra in the near future. Follow me on twitter for more analytics!

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

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If you’ve heard of the Terra blockchain and its ecosystem, you’ll know that it is often compared to other Layer 1 Blockchains like Ethereum, Solana and Binance Smart Chain. However, what Terra is and what it is trying to be is often overlook.

Here are 3 ideas you should understand:

1. Terra is not competing against other L1 blockchains to be the best blockchain. It is competing to be the best form of decentralized money. 

In his podcast with @delphi_digital, Do Kwon, Co-Founder and CEO of Terraform Labs (@stablekwon) encapsulates the entire ethos that Terra is built on:

"Our main goal, and the only product that we look at is the Terra stablecoin. Our goal is to make that stablecoin the most decentralized and useful form of money there is. For everything else it’s just a means to an end." — Do Kwon

The phrase "For everything else it's just a means to an end." really struck a chord with me. 

While it is true that us #LUNAtics always harp on the point that more than 100+ dApps are in the pipeline waiting to launch with Columbus-5 being the catalyst, tons of new use cases However, we tend to forget the fundamental question of:

"Why does it matter?" Every dApp launching on Terra (or dApps which have already launched) makes Terra stablecoins better to hold, easier to spend, and more attractive to invest.

That's why we have world-class dApps like @anchor_protocol, @mirror_protocol, #CHAIPay, @pylon_protocol and many others waiting to launch like @mars_protocol, @prism_protocol, @astroport_fi, @alice_finance creating countless use cases for the Terra ecosystem and its stablecoins.

Ultimately, every dApp built on Terra is all just a means to an end; and that "End" is to create the most decentralized and useful form of money there is.

2. Terra is chain agnostic.

"So if Terra succeeds as a L1 smart contract platform, then great why not. But from our perspective, we place no difference between $UST being used on the Terra blockchain versus Ethereum or Solana or Avalanche." — Do Kwon

The beauty of Terra is in the simplicity of its price stability mechanism: For every $UST minted, the equivalent dollar's worth of $LUNA is burned. It does not matter where $UST is used, be it on other L1 blockchains like Ethereum and Solana, or even centralized exchanges like Binance. As more $UST is minted, $LUNA will be increasingly becoming more scarce as more LUNA will need to be burned.

With Columbus-5 and the implementation of Wormhole V2 and @cosmos's IBC, we can expect to see the Cambrian explosion of $UST being used in every exchange, decentralized and centralized. A bet on LUNA is a bet on the success of its stablecoins.

3. Terra's total addressable market is every sovereign currency in the world.

Creating the most decentralized and best form of money is not exclusive to the USD-pegged $UST stablecoin. Anyone can create Terra stablecoins pegged to any currency on the planet.

I'll let you do your own research on the world's total market cap of all fiat currency, but to put things into perspective: The Top 3 Stablecoins by market cap (as of 21 October 2021) has a combined market cap of about $115 billion, while $UST has a market cap of $2.7 billion.

That being said, there are still major obstacles that Terra and its stablecoins will need to overcome to achieve widespread mainstream (e.g. building infrastructure and global acceptance) but I'll save that for another thread.

Disclaimer: I am heavily invested in $LUNA and its ecosystem, but this should not be taken as financial advice, do your own research and come to your own conclusions.

Thanks for reading! I’d like to hear your thoughts as well.

If you want to see more articles or threads like this, do reach out and follow me on Twitter at @GabrielGFoo! I write about various topics including (but not limited to) Terra, blockchain, NFTs etc.

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What are Space Toadz?

They are:

from: https://spacetoadzterra.com/

To give a little more detail, Space Toadz are a set of 6969 NFTs minted on the Terra blockchain. They were the result of a 24 hour “toadathon/hackathon project” (https://spacetoadzterra.com/)

View the collection on RandomEarth: https://randomearth.io/

Let’s talk about this mint. It was quite a bit different than your typical Terra NFT minting process!

Space Toadz Mint Plan

Start Date/Time: Tuesday, October 26th at 3:34pm EST (17:34 UTC)

Total Mints: 6,969

Mint Price: 0.1 Luna

Limit Per Wallet:

• You were allowed to mint 5 Space Toadz per wallet.

Audience: This mint was first announced to the Galactic Punk community via their discord announcements channel. It was quickly shared on twitter, and the mint was available until all 6,969 toadz were sold/minted. But if you had the website, anybody with a Terra wallet and some Luna could mint them!

The most interesting part of this launch is that this was a stealth launch. Nobody knew that these toadz were being worked on or when it was going to be released (except developers). All of a sudden, the Galactic Punk team announced that the project was live and that you could mint via their website https://spacetoadzterra.com/

Here is a screenshot of the announcement when it first went live! (I left the user making the announcement anonymous, but this message can be found in the public GP discord!

https://discord.com/channels/881200105817010258/881582847410974730/902651543050936321

Minting Results

So now that we have an idea of what this project was, let’s talk about how it actually went!

The start time was 17:34 UTC.

• When did it actually start?

• When did it end?

• How long did the sale last?

• How many people minted?

There are some key times to recognize for this stealth launch/sale.

1. First reserve_nft tx (start time)

2. Last reserve_nft tx (end time)

3. Announcement time (when the public was notified)

The reason that these 3 times are important, is because you want to get a true idea on how quickly these toads actually sold out. Everything occurred on October 26th, so let’s break it down.

Sale Start Time: 18:51:11 UTC

Sale End Time: 20:11:29 UTC

Announcement Time: 19:34:00 UTC

Sold Out Time from Start: 1 hour, 20 minutes, 18 seconds.

Sold Out Time from Announcement: 37 minutes, 29 seconds.

This is interesting. While the announcement didn’t occur until 19:34 UTC, the first reserve_nft transaction occurred at 18:51 UTC. This must mean that the team/people involved were testing/trying things out prior to the announcement.

The number that I am most interested in, is the Sold Out Time from Announcement. From the time that Galactic Punks announced the launch, it took only 37 minutes and 29 seconds to completely sell out. You needed to be in the right place at the right time to catch this mint! (if you’re wondering, I was not one of those minters. But I still love the toads I was able to pick up in the aftermarket!)

Toadz Minted over Time

Please take a look at the interactive chart here: https://velocity-app.flipsidecrypto.com/velocity/visuals/896feb37-021d-4b8f-95b7-f71bf58ad0f8/6da56d90-421a-4c05-ad43-f494adac1b38

This graph is interesting because you can see how the volume IMMEDIATELY picked up after the announcement. As I had predicted, the number that I was interested in for “sold out time” was post-announcement. And that makes sense!

Last but not least, let’s talk about how many people minted Toadz.

According to my query via Flipside’s Velocity, there were 1588 distinct addresses that minted Toadz. It is very possible that people circumvented the 5 mints per wallet rule but using different wallets, but they have to be very quick in order to do so. I like to think that we had a wide range of folks minting these fun NFTs!

Additionally, RandomEarth.io is calculating that we have approximately 2k owners in the aftermarket as well. This means that some folks sold to those who missed out on the mint!

Conclusion/Summary

We’ve gone over all of the details of the mint, now let’s summarize.

Total Minted: 6969

LUNA Collected: 694.4

Unique Mint Owners: 1588

Unique Aftermarket Owners: ~2k

Sold Out Time: 37 minutes, 29 seconds. (post-announcement)

Look forward to reading more about Space Toadz on the aftermarket. There have been some very notable sales, but I will save that for my next article.

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

If this is the first time you’ve heard of White Whale Protocol, do check out my summary of their Litepaper here.

Without further ado, let’s dive in.

1. Why White Whale?

We believe White Whale is a mission critical project for Terra and that the power of burning and minting $LUNA on the L1 to control the monetary supply of $UST should be in the hands of the community rather than centralized among a few hedge funds.

2. What inspired you to embark on this mission of democratizing arbitrage opportunity and why do it on Terra?

I had been sitting on the idea for some time, but the May crash hit me pretty hard. It was then that I realized that the algo-stablecoins are still very new experiments and there's nothing like the crypto markets to provide a stress test. I then watched Iron Finance collapse shortly after because their algo-stablecoin lost peg, and that's when I decided to take action.

3. Where is the team based & what are your backgrounds?

We are all remote and very decentralized, I am in the US, several of the devs are in Europe, some Asia. We have a pretty diverse team with different backgrounds and experience, but we do have one thing in common: we are all hard core #LUNAtics.

The team was organically recruited from the Luna community straight off of crypto twitter. All of them found me, I didn't really need to look too hard for devs, because all of them were inspired by the vision of the project to empower the smaller investors to keep the peg. I think this is important, because everyone on the team shares a common vision and is passionate about what we are building.

As far as experience goes, we have software engineers from IBM, Spotify, etc. as well as others who have worked on other protocols in the past, even on Terra. Our team is well experienced and talented, and we have a great chemistry. I believe if you would ask any one of them they would say they really enjoy working on this project.

4. How does White Whale plan to leverage the Protocol Owned Liquidity (POL) model to stabilize the ecosystem?

POL1 is just the beginning. We do believe it is important for protocols to own their liquidity, and that this is a more sustainable model than basically how all of DeFi has been liquidity farming since its inception, however there is more to it than that. Our goal is not only to own our liquidity but also a diverse basket of assets in our War Chest.

These assets will be owned by the protocol, controlled by the community, and used to fulfill White Whales vision of stabilizing the ecosystem through community led arbitrage. We plan to deposit these assets into our single asset arb vaults. In this way, they will not only bootstrap our vaults but they will also act as an LP of last resort in any crash scenarios.

Bottom line is not only is POL DeFi 2.0, but POT (Protocol owned Treasuries) is. And we want to be at the forefront of this next evolutionary step in DeFi.

5. What is White Whale doing in terms of ensuring security of funds?

We currently have one audit already scheduled, and we are speaking to a second auditor to give the community extra assurance. Both firms are highly respected and known in the crypto space

6. At the moment only $UST and $LUNA arb vaults are available. Any timeline on adding other tokens and if so, which ones?

As far as timeline goes for additional single asset arb vaults, we'll see, can’t make any promises there. What I will say is that once we build the first ones, we now have template in place that will translate well for adding new vaults, so I expect once we get rolling we will be able to add them fairly quickly. What's more interesting is which ones we should add, and in what priority.

7. In light of recent launches that have come under scrutiny, what steps are White Whale taking to ensure fair distribution during pre-sale?

We have been watching the recent launches on Terra very closely and we are trying our best to learn from everyone's missteps. What I will say is this: It is very difficult to get a launch right these days and it is much easier to criticize them as an onlooker. However, we are going to try our best to execute a fair and effective launch for the community. Our goal with our launch sequence is to get $WHALE tokens into the hands of as many loyal community members as possible at reasonable levels.

That's why we are still planning on utilizing both launchpads2 on Terra. I know there are mixed feelings about both launchpads, however they each have their own loyal communities which are a part of the larger Terra community. We want to cover as much ground as possible and give the community as many options as possible to get some tokens.

We also have seen bots snipe initial liquidity way too many times and personally I just think this is quite unfair and it really bothers me. That's why we are planning on utilizing the Astroport LBP3 template for our initial trading liquidity when it is open sourced.

8. Cross-chain arbitrage is on the roadmap. Any particular chains you are working on already?

Right now we are laser focused on delivering our V1, so we haven't given too much thought to cross-chain yet, however we have had some preliminary meetings with other chains that are quite keen to bring White Whale over to their neck of the woods. The low hanging fruit is obviously the other chains on the IBC, I'd imagine we would start there.

9. White Whale NFTs will be distributed to #LUNAtics liquidated by White Whale bots & participants of the $WHALE ecosystem. Are these NFTs from the same collection or will there be different collections to distinguish them?

There will be a separate collection of NFT's distributed for liquidations. We are still playing with the design, art, and theme of this collection. We need to be careful here because someone who just got liquidated is typically in a vulnerable place, so we don't want to send the wrong message, however I think we have come up with a concept that will work.

On the other hand, our main NFT collection, The Guardian Whales, is much further along in development, and we on the team are all pretty excited about it.

10. Can you show us any sneak peeks of the Guardian Whale NFTs?

We will be releasing some of the traits and rarities quite soon, so we'll have to wait for that. What I can say is that I am particularly excited about how the Guardian Whale NFT's will be used as a part of White Whale.

To be honest, I don't even know exactly what this looks like yet, but NFT collections are great for forming communities, and they are great for DAO's, and that is what we want White Whale to be. I am hoping that these NFT's will almost serve as your digital identity on the platform and in the White Whale community, but we shall see, that will be up to the community to decide.

11. It is mentioned that bots would be used for liquidation automation. Does this take into account the new liquidation queue on Anchor?

We are currently still working through what exactly our new liquidation strategy will be for Anchor given the recent changes. In the meantime we are moving forward with development on both Mars and Levana liquidations, which could be quite profitable and more common given the leverage element.

12. Let's end with a fun question! What are your favorite NFTs on Terra so far?

Call me old fashioned, but I like the originals... I'm a big Galactic Punk and Luna Bulls fan. Maybe it's because after those I've gotten so busy with White Whale that I really haven't had time to keep up with the newer ones to be honest.

Closing Notes

If you’ve read this far, I hope you enjoyed the interview and learnt more about White Whale Protocol & the team behind it! Do let me know below in the comments which project you’d like me to interview.

A big thank you once again to Sebastian for taking the time to answer these questions. I'm personally excited for the project and I wish him and the team the best. If you’re interested in White Whale Protocol, do check them out below:

Sebastian:
- Twitter

White Whale:
- Twitter
- Website

Follow me:

• Twitter

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Where are The Crunks being sold?

The Crunks are “10K randomly generated 8bit misfits who like to party on the Terra Blockchain” (https://thecrunks.io/)

Now that the mint is over, where can you buy these 8bit misfits? (More info on the mint can be found in my article here:

Cryptowriter

The Crunks - Mint Overview

Read more

4 years ago · 19 likes · 13 comments · brian_

You can find The Crunks aftermarket on RandomEarth here:

https://randomearth.io/collections/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40

RandomEarth is one of the primary aftermarkets for NFT sales on the Terra blockchain. If you are more of an ETH NFT fanatic, think of RandomEarth as “OpenSea on Terra”. (although much better in my opinion) - The fees are a fraction of the cost.

But I’m not writing to compare RandomEarth vs OpenSea - let’s get into the Crunks data!

The Crunks Sales Summary

Let’s start by summarizing the total sales. I decided to break the sales down in the following bucketed sections (by price paid).

<1 Luna, 1-2 Luna, 2-5 Luna, 5-10 Luna, 10-50 Luna, 50-100 Luna, and >100 Luna

Total Bucketed Sales from RandomEarth:

Broken down by percentage:

• <1 LUNA | 918 sales - 35% of sales

• 1-2 LUNA | 755 sales - 28.8% of sales

• 5-10 LUNA | 221 sales - 8.44% of sales

• 10-50 LUNA | 103 sales - 3.94% of sales

• 50-100 LUNA | 7 sales - 0.27% of sales

• >100 LUNA | 4 sales - 0.15% of sales

Above we can see that of 2617 total sales, there has been 8513.71 LUNA collected. Let’s look at those values in greater detail below.

In total, there has been 8,513.71 LUNA in Crunks sales on RandomEarth. You can see that over 7k LUNA in sales occurred in the first 2 days, with a total of 24 days on RandomEarth.

Total Crunk Sales in LUNA - Hourly Increments

Interactive chart here: https://velocity-app.flipsidecrypto.com/velocity/visuals/70bb4688-6c69-4394-bed3-674e0a7526c2/967398df-36a5-4d37-b15f-e51199818bd4

In total, there have been 2,617 Crunks sales on RandomEarth. You can see that 2k of those sales occurred in the first 5 days, with a total of 24 days on RandomEarth.

Total Number of Crunk Sales - Hourly Increments

Interactive chart here: https://velocity-app.flipsidecrypto.com/velocity/visuals/458215a4-141b-4d2a-b85c-61ba08a285ee/15559fbd-39d9-4595-acc8-0c2ad38dd1ed

Some awesome data and volume for The Crunks on RandomEarth.

Next, let’s take a look at the top 5 highest sales!

Top 5 Highest Sales

The top 5 highest sales occurred in the first couple days of trading on RandomEarth.

Here are the transactions from my Flipside query:

Top 5 Highest Sales

Let’s take a look at the top 5 Crunk sales!

#5 | Crunk #8535 | 99 Luna

https://randomearth.io/items/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40_322358997715821262252143585784728609400

This Crunk sold for 99 Luna at 2021-10-24 09:42:55 UTC.

It is the only Crunk with the “Alien Stoned” trait!

Additionally, it is ranked #13 out of 10,000 Crunks according to notfoundterra.com

#4 | Crunk #8535 | 180 Luna

https://randomearth.io/items/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40_322358997715821262252143585784728609400

This Crunk also holds the #4 spot when it sold for 180 Luna at 2021-10-25 18:36:28 UTC - only ~33 hours after the previous sale!

Again - It is the only Crunk with the “Alien Stoned” trait!

#3 | Crunk #5696 | 199 Luna

https://randomearth.io/items/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40_107921442000969991977245601156294122415

This Crunk sold for 199 Luna at 2021-10-25 18:40:55 UTC.

It’s two rarest traits are “Sword” (only 10 exist) and “Mask” (only 10 exist).

This combination of rare traits gives it an excellent rarity.

Additionally, it is ranked #14 out of 10,000 Crunks according to notfoundterra.com

#2 | Crunk #8567 | 300 Luna

https://randomearth.io/items/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40_284024239386642020809332416411420912128

This Crunk sold for 300 Luna at 2021-10-25 14:46:09 UTC.

This is a 1 of 1 Crunk with unique traits.

#1 | Crunk #4234 | 1000 Luna

https://randomearth.io/items/terra1sux7jjk9vfd0q6z0l99wpg07yd0wme0ac9le40_130782806039008877331798750202470607536

This Crunk sold for 1000 Luna at 2021-10-24 11:36:54 UTC.

This is a 1 of 1 Crunk with unique traits.

Conclusion/Summary

Wow! The Crunks have certainly put up some serious volume since the launch.

The first few days were clearly the most active in terms of the total LUNA traded and total number of trades.

Let’s summarize the numbers now.

Total Number of Trades: 2,617

Total LUNA traded: 8,513.71

• <1 LUNA | 918 sales - 35% of sales

• 1-2 LUNA | 755 sales - 28.8% of sales

• 5-10 LUNA | 221 sales - 8.44% of sales

• 10-50 LUNA | 103 sales - 3.94% of sales

• 50-100 LUNA | 7 sales - 0.27% of sales

• >100 LUNA | 4 sales - 0.15% of sales

Top 5 Sales:

• #1 | Crunk #4234 | 1,000 Luna

• #2 | Crunk #8567 | 300 Luna

• #3 | Crunk #5696 | 199 Luna

• #4 | Crunk #8535 | 180 Luna

• #5 | Crunk #8535 | 99 Luna

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

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There has been some excitement around WhiteWhale Protocol and they have finally launched their litepaper! Let’s dive in. 

WhiteWhaleTerra has two main goals.

Goal 1: Democratizing arbitrage to the average user.

Arbitrage requires capital, in-depth knowledge, and bot infrastructure. All of which are not usually available to regular DeFi citizens. This leads to the next goal of White Whale.

Goal 2: Keeping the $UST peg (this is arguably the more important goal).

By democratizing arbitrage, the Terra community is able to enforce the $UST peg while enjoying delta-neutral profits. @WhiteWhaleTerra also aims to create a demand pool for $UST deposits, more on this later.

So…how does it work?

The WhiteWhale platform consists of 3 components, all of which utilize Anchor Protocol for capital efficiency. $WHALE tokens will also be used to reduce volatility across the platform.

Component 1: Arb Vaults

The main character of the platform, Arb Vaults will be divided into single-asset vaults. Deposits serve as liquidity to be deployed by bots into multiple arbitrage strategies whenever the opportunity arises.

$UST Arb Vault:

• Arbs $UST back to peg by automating the level 1 seignorage method.

• Arbitraging $UST over multiple DEX's like Astroport & Terraswap is in development and will be added in the future to the $UST Arb Vault.

WhiteWhale also plans to automate liquidations on Anchor, Mirror, and Mars Protocol. Borrowers who are liquidated by the arb bots will receive WhiteWhale NFTs as consolation!

What happens when $UST is on peg and no arbitrage opportunities are available?$UST is deposited into @anchor_protocol for yield, the resulting $aUST will be used to generate additional yield.

In the future, these strategies for $aUST may include:

• Delta-neutral yield farming with Abracadabra

• Stablecoin yield farming with Mirror Protocol

$LUNA Arb Vault

This vault will be arbing the $LUNA / $bLUNA pair on Terraswap. In the future, strategies may include arbing:

• $LUNA across multiple DEXs

• $LUNA against $pLUNA & $yLUNA

Other Arb Vaults

Besides $UST and $LUNA, other single-asset vaults for other Terra-native assets like $ANC & $MIR can be introduced. These will be decided by the community via governance proposals.

Component 2: The War Chest

An ecosystem treasury governed and controlled by the community, the War Chest will hold multiple assets, both native and non-native.

WhiteWhale plans to leverage the Olympus DAO model of swapping bonds (discounted $WHALE + vesting) for specific assets to bootstrap their single-asset vaults or its own liquidity pool (READ: Protocol Owned Liquidity).

There was some hype surrounding WhiteWhale that it's going to be the $OHM of Terra, but do understand that $WHALE is not the free-floating currency that $OHM is. Rather, $WHALE plans to adopt bond swapping & POL that $OHM has made so popular.

I Spoke to Sebastian, founder of WhiteWhale and this is what he said:

"Unlike $OHM, $WHALE is not seeking to be a stable reserve currency for digital assets, however, it will leverage the Olympus DAO bond model to accumulate assets into its War Chest...

...which will not only include owning its own liquidity but also assets that will ultimately be used to arbitrage and stabilize the entire ecosystem. All of these assets will be under community led governance via The Guardian Whales DAO..."

Essentially, $WHALE stakers can add or remove trading strategies, adjust trading parameters, and issue new $WHALE bonds via governance proposals.

Component 3: The Community Fund

With the War Chest being the community-owned savings account, the Community Fund is the community-owned spend account of the protocol.

This fund can be used for the development of the protocol as decided by $WHALE holders via governance proposals.

The Governance Token

• Functions as the utility token that provides ecosystem stabilization features

• The only token providing access to multiple arbitrage and other yield-bearing opportunities across the ecosystem from one vault

• A portion of $WHALE will be rewarded to users providing liquidity and/or participating in governance proposals

Tokenomics

• Initial Supply: 1,000,000,000

  

Prior to the token generation event (TGE), unassigned tokens might be burned to limit total supply or redistributed to the treasury (Community Fund).

Roadmap

Nov-Dec 2021 - Testnet, live arb testing
Jan 2022 - Community IDO Events
Jan-March 2022 - Mainnet launch
Q3-4 2022 - V2 Expand Arb Vaults to addition assets
2022-2033 - Cross-Chain arbitrage

Thoughts

WhiteWhale Protocol democratizes arbitrage for the average DeFi user and safeguards the $UST peg. What more do I have to explain for you to get behind it? NFA.

Links

Website: https://whitewhale.money/

Twitter: @WhiteWhaleTerra

Litepaper: https://www.whitewhale.money/Litepaper.pdf

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What are The Crunks?

They are:

from: https://thecrunks.io/

Simply put, they are a collection of 10,000 8bit generative art NFTs on the Terra Blockchain. An amazing collection of pixelated characters with many different traits/attributes/combinations.

View the collection on RandomEarth: https://randomearth.io/

More about The Crunks story here: https://thecrunks.io/blog/the-crunks-story

Let’s talk about how the mint was supposed to go, and then how it actually went.

The Crunks Mint Plan

Start Date/Time: Saturday, October 23rd at 12pm EST (16:00 UTC)

Total Mints: 10,000

Mint Price: 3 Luna or Equivalent UST

Limit Per Wallet:

• Airdrop

  • 100 Crunks were airdropped to a total of 10 unique addresses. 50 Crunks were designated for the team, while the other 50 are intended to be distributed back to the community via giveaways, competitions, etc. These competitions have already begun - so be sure to keep an eye on their Discord and Twitter!

• Community Whitelist (OG) (12pm EST)

  • This group was allowed to mint x2 Crunks for each wallet whitelisted.

• Public Whitelist (Chill G) (2pm EST)

  • This group was allowed to mint x1 Crunk for each wallet whitelisted.

  • This was later raised to x2 during the minting process.

• Public Sale (4pm EST)

  • The Public Sale was exactly that - open to the public! Anybody with a Terra wallet and 3 Luna (+fees) could mint one. But you were free to mint up to x100 Crunks during the public sale if you wanted!

The per-wallet limits were potentially circumvented via multiple wallets. Although the moderator team did an extraordinary job reviewing the whitelist applications to ignore the bots, airdrop hunters, etc - some people go to great lengths to beat the system. The Crunks made it to the public sale, so it wasn’t a problem for this mint. Anybody was free to mint, first come first serve!

Minting Results

So now that we know how the mint was supposed to go, let’s find out what actually happened.

The start time was 16:00 UTC.

• When did it actually start?

• When did it end?

• How long did the sale last?

Let’s break it down by sections first.

Airdrop Minting

The airdrop minted 100 Crunks prior to any whitelist sales.

It occurred in one transaction at exactly 2:56:14 UTC - Just over 13 hours prior to the public launch!

This data was available on the blockchain immediately after minting, anybody could have gone and see what kinds of Crunks had been minted. Completely randomized as well - who knows what Crunks might have been minted!

As I mentioned in the mint plan, 50 Crunks airdropped went to the Crunks team.

The other 50 were minted for various giveaways/competitions to give back to the amazing community!

Community Whitelist (OG)

The community whitelist (OG) role allowed users on the whitelist to mint x2 Crunks each.

The first Crunks for this whitelist were minted at 16:00:14 UTC - only 14 seconds after the whitelist sale was supposed to begin! These folks were ready to go as soon as the sale went live!

The last Crunk for this whitelist was minted at 17:59:52 UTC - only 8 seconds before the next whitelist sale was supposed to begin! This person waited until the last few seconds to take advantage of their whitelist spot!

Summary of Community Whitelist (OG):

• 692 Unique Addresses

• 1,291 Crunks

• 3,690 LUNA Collected

• 8,633.62 UST Collected

Community Whitelist (OG) - Crunks Minted over Time

You can see in my graph above, there were almost 1000 Crunks minted in the first 15 minutes of the OG whitelist sale! People were ready to go!

Public Whitelist (Chill G)

The public whitelist (Chill G) role allowed users on the whitelist to mint x1 Crunk each. This was later raised to x2 Crunks each, which explains the numbers below.

The first Crunks for this whitelist were minted at 18:10:04 UTC - 10 minutes and 4 seconds after the whitelist sale was supposed to begin! This may have been due to a delay during the whitelist activation, but I am not 100% certain.

The last Crunk for this whitelist was minted at 19:59:45 UTC - only 15 seconds before the next whitelist sale was supposed to begin! This person waited until the last few seconds to take advantage of their whitelist spot!

Summary of Public Whitelist (Chill G):

• 1,296 Unique Addresses

• 1,515 Crunks

• 4,281 LUNA Collected

• 12,334.16 UST Collected

Public Whitelist (Chill G) - Crunks Minted over Time

You can see in my graph above, since this whitelist sale began at 18:10:04 UTC, there were well over 1000 Crunks minted in the first 15 minutes of the public whitelist sale! People were ready to go, similar to the community whitelist!

Public Sale

The public sale allowed any user to mint x100 Crunks each.

The first Crunks for this whitelist were minted at 20:00:19 UTC - 19 seconds after the public sale was supposed to begin!

Additionally, in the first transaction after the public sale went live, 324 Crunks were minted at the same time. This means, a lot of people were ready to mint as soon as they were allowed to!

The last Crunks for this whitelist was minted the following day, October 24th at 07:17:37 UTC - meaning that the public sale lasted a total of 11 hours, 17 minutes, and 18 seconds.

Summary of Public Sale:

• 2,090 Unique Addresses

• 7,094 Crunks

• 18,690 LUNA Collected

• 120,399.59 UST Collected

Public Sale - Crunks Minted over Time

Conclusion/Summary

We have gone over all of the sections that lead to the Crunks selling out. Now let’s look at all of the numbers together.

The total length of the sale from the start of the Community Whitelist sale to the end of the Public Sale was 15 hours, 17 minutes and 23 seconds. All 10,000 Crunks sold out in this time.

Airdrop:

• 100 Crunks

• 10 Unique Addresses

• Occurred in 1 transaction, 13 hours and 4 minutes prior to sale.

Community Whitelist (OG):

• 1,291 Crunks

• 692 Unique Addresses

• 3,690 LUNA Collected

• 8,633.62 UST Collected

Public Whitelist (Chill G):

• 1,515 Crunks

• 1,296 Unique Addresses

• 4,281 LUNA Collected

• 12,334.16 UST Collected

Public Sale:

• 7,094 Crunks

• 2,090 Unique Addresses

• 18,690 LUNA Collected

• 120,399.59 UST Collected

Total Summary:

• 10,000 Crunks

• 3,691 Unique Addresses

• 26,661 LUNA Collected

• 141,367.37 UST Collected

• Sold Out Time: 15 hours, 17 minutes, 23 seconds

Total Minting Sums/Counts by Section

I would consider this to be a very successful launch. Almost 27k Luna, 141k UST, every NFT sold to users on the Terra blockchain.

Many projects aren’t even selling out nowadays, it is very exciting to see such an incredible project mint all of the NFTs available. It would have been a shame to see any of them get burned!

Look forward to reading more about The Crunks on the aftermarket. There have been some very notable sales, but I will save that for my next article.

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_

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Change is the only constant.

In crypto, this happens at dizzying speeds, and you can be left behind. Ethereum and Cardano might be development-active, but Terra is also up there given its ambitious goal and current adoption levels. The development wing is hard at work to make the stablecoins leveraging platform better, faster, and LUNA more attractive.

Towards that end, the highly anticipated upgrade of early this month, the Columbus, introduced new enhancements set to make the platform more rewarding for token holders and LUNA even more scarce.

Before diving deeper, it is best to understand that the Terra blockchain is one of the fastest, cheapest, and highly adopted in the sphere. Terra developers want to improve payment in the scene. The best way is to leverage a series of algorithmically adjusted stablecoins. These are digital assets existing within the interoperable, Cosmos-powered smart contracting platform, tracking the value of various fiat currencies and IMF's SDR.

The most prominent of those stablecoins, as you would expect, is UST that tracks the USD and is stabilized by LUNA, which is central at ensuring the peg is correct. Otherwise, the system can be run down if there are errors. LUNA primes the ecosystem's collateralization mechanism as a utility and a governance token for this fast-growing blockchain.

Therefore, as expected, the Columbus Upgrade had major ramifications to the core of the platform. Considering the interconnectedness of the blockchain's ecosystem, an improvement on one component—for example, on stablecoins—had a contagion effect on the system's utility token, in this case, LUNA.

With the activation of Columbus Upgrade, the development team wanted to stimulate the demand for its stablecoins while also increasing the scarcity of LUNA. The effect on the latter immediately reflected on its price.

Thus far, the coin has surged more than 10X since the beginning of the year, and analysts expect more gains in the months to come. The demand for Terra stablecoins would be enhanced by opening up the network to other networks and dApps.

Based on this, the Columbus Upgrade is important for several reasons for the layer-1 blockchains:

1. Incorporating Cosmos' Inter-Blockchain Communication (IBC) Protocol

The Columbus Upgrade did precisely that. 

Notably, integrating the Inter-Blockchain Communication (IBC) protocol—or the Stargate—by Cosmos means that the Terra blockchain is now interoperable. 

The IBC's objective is to create an interconnected ecosystem of blockchains—an internet of blockchains. This solution is presently active and used by a dozen of projects. 

Therefore, the Terra blockchain can easily link up with IBC-enabled blockchains like Solana and Polkadot with this integration. 

In the coming days, Ethereum will also integrate IBC. 

This is because Terra is now more useful and functional as the base is more expansive and the dApp range more profound. 

The eventual bridging to Ethereum would make IBC more attractive, drawing even more users, spurring the demand for Terra blockchain-based stablecoins. 

2. LUNA Coins are Scarcer

Additionally, after the Columbus Upgrade, LUNA coins are scarcer. 

The Terra blockchain is a dual token system where LUNA plays a critical role in governing stablecoins like UST. The more the demand, the more LUNA minted, and vice versa. 

Every minting activity before this upgrade saw LUNA coins transferred to the community pool. That means supply wasn't affected but transferred. 

Perhaps inspired by Ethereum's EIP-1559, Terra developers decided to burn all LUNA coins used for minting instead of transferring them to a community pool. 

Experts believe that this would directly affect LUNA pricing as supply will continuously shrink, reflecting the mint rate of UST stablecoins. 

Gradually, this makes LUNA coins deflationary and, thus, a desirable asset. 

3. Higher Yields for LUNA Stakers

The network developers, following the enhancement, also decided to reward users that delegate their LUNA coins to validators. 

There were tweaks on how fees generated from Terra Station trading were channeled. 

Earlier on, these were burnt. 

However, to boost and encourage LUNA users to delegate and subsequently make the platform even more robust, fees won't be burnt. 

Instead, they will be distributed as an extra reward to LUNA delegators.

4. Paving the Way for the Solana Connection 

Most notably, despite the IBC incorporation, the Columbus Upgrade set the ball rolling for the next significant improvement: the linkage to Solana via the Wormhole bridge. 

While there is interoperability, the direct link to the rapidly growing Solana blockchain makes UST—and Terra stablecoins by extension—more functional and, as expected, on-demand. 

Since LUNA is at the heart of minting, the enhancement would provide the necessary tailwinds to make the token the most valuable DeFi protocol, surpassing Uniswap.

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Bitcoin might be the most important innovation after the internet, according to Roger Ver.

But what about stablecoins?

If anything, without stablecoins—algorithmic or off-chain—the market would be extremely limited, even illiquid.

After USDT, Bitcoin and crypto took off to present heights. 

Looking at Terra and its native coin, LUNA, it is easy to see why it is an instant success.

The investment community can look at the rapid price gains and the over 10X of this year. However, for fundamental investors and those who keep track of critical on-chain metrics, it is the spike in activity that's truly eye-catching.

To understand what's going on with Terra, it is best to understand the basics of the project. This is to break down every component that truly makes Terra great.

But first.

What is Terra?

The project is three years old as of writing, launching in 2018 in South Korea.

Their objective is simple: create a payment platform and interweave it with stablecoins governed by the LUNA coin.

This is a straightforward premise.

And out of simplicity, Terra is blossoming.

Newbies can think of Terra—the blockchain—as a modern eCommerce platform leveraging fiat-pegged stablecoins, especially when it comes to cross-border fund transfer. 

Here are some of the platform's defining features:

1. Interoperability, Cost Efficiency, and Speed

As you would expect from a third-generation blockchain with scaling and fees worked out, transacting on the blockchain is cheaper, instantaneous, and frictionless. 

The Terra blockchain is also interoperable as it is built based on Cosmos technology. 

The aim is to challenge existing centralized payment apps by launching a blockchain-based, comprehensive, and secure end-to-end financial solution circumventing the fragmentation of centralized options. 

With a decentralized base layer and a system purposefully designed to bypass needless hoops, Terra is cheaper.

2. Laser Focus on Asian eCommerce Scene

The development path opted by Terra developers is strategic, considering what the developer of the platform wants to achieve. 

Terra could be global, but their core is to start by providing a suitable solution for their region. 

That's why, as an eCommerce platform roping in the benefits of the blockchain and weaving up with stablecoins—pegged to the USD, Euro, and even JPY--, its creators wanted to grow the Asian eCommerce community. 

This is so because the Asian market was desirous of improving the efficiency for payment service providers concurrently increasing the value to customers. 

To achieve this, they joined forces with 15 initial partners for a symbiotic alliance. In total, the value of this force had over $25 billion in Gross Market Value with a customer base of over 45 million.

3. Stablecoins and the Terra Station

Terra can build out of this solid partnership to create a cyclic system beneficial for its ecosystem. 

For example, the initial 15 eCommerce partners use the Terra stablecoin via the Terra Station—the platform's proprietary wallet. Their stablecoins, unlike off-chain options, are algorithmic. 

This means that the peg is controlled by smart contracts running on the public ledger and governed by the LUNA coin. 

The objective of stablecoins is to reduce price volatility across supported fiat currencies. Terra stablecoins include assets tracking the USD, CNY, JPY, KRW, GBP, Euro, and the IMF's Special Drawing Rights (SDR). 

Terra partners have to choose which to deploy, depending on the marketplace. LUNA serves a dual role as a governance and utility token. 

The borrower of the last resort is helping as part of the system's stablecoin collateralization mechanism.

4. Anchor and Mirror Protocols

As a simplification, the Anchor protocol is designed to incentivize a low-volatility saving mechanism based entirely on Terra stablecoins. 

The goal is to enable Terra stablecoin holders to earn just like they would if they had deposited in a traditional bank complete with instant withdrawals. 

The difference between Anchor Protocol and other money markets is that the supply of other Proof-of-Stake blockchains' rewards determines its saving rate. 

Additionally, Anchor is a lending protocol, allowing users to secure loans by staking liquid-staked PoS assets from other blockchains.

On the other hand, the Mirror protocol acts as a DeFi protocol on the Terra blockchain allowing for the creation of simulated assets—that is, synthetics. All assets created on the Mirror protocols are fungible.

The Terra Station (wallet) supports all Anchor and Mirror Protocol assets.

At the time of writing, LUNA is trading at $38.

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