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Pylon Protocol  


MINE Price:
All Time High:
Market Cap:
$532.8 K

Circulating Supply:
Total Supply:
Max Supply:


The price of #MINE today is $0.000244 USD.

The lowest MINE price for this period was $0, the highest was $0.000244, and the current live price for one MINE coin is $0.00024404.

The all-time high MINE coin price was $0.30.

Use our custom price calculator to see the hypothetical price of MINE with market cap of BTC or other crypto coins.


The code for Pylon Protocol crypto currency is #MINE.

Pylon Protocol is 1 year old.


The current market capitalization for Pylon Protocol is $532,754.

Pylon Protocol is ranking upwards to #1491 out of all coins, by market cap (and other factors).


There is a very weak daily trading volume on #MINE.

Today's 24-hour trading volume across all exchanges for Pylon Protocol is $3.00.


The circulating supply of MINE is 2,183,086,278 coins, which is 22% of the total coin supply.


MINE is a token on the Terra blockchain.


MINE has very limited pairings with other cryptocurrencies, but has at least 1 pairing and is listed on at least 1 crypto exchange.

View #MINE trading pairs and crypto exchanges that currently support #MINE purchase.


Note that there are multiple coins that share the code #MINE, and you can view them on our MINE disambiguation page.



Community Update — August 2022

Community Update — August 2022 - 👋 Hey, LUNAtics! We are excited to be bringing you the first of many monthly community update articles on the Terra ecosystem. These articles will provide you with a concise overview of the latest happenings in the Terra ecosystem, including project updates, integrations, listings, governance proposal outcomes, media features, and more! Follow @terra_money on Twitter and turn on notifications to get updated each month when new articles are published. Okay, enough house-keeping — let’s get into the August update! — 🌎 Ecosystem Updates. — Stader’s stake pools crossed $250k+ in TVL, offering 40%+ APR, Leap wallet integrated TFM’s DEX aggregator as well as Stader’s stake pools, TFM revamped their dashboard for both mobile and desktop with a better UI — new features include responsive design, toggle on/off low liquidity pairs, and toggle to view prices in $axlUSDC or $USD, TerraAliensNFT migrated to Terra from Terra classic, Secondary listings of LUNA Ape Club, TerransNFT, Meta Royals NFT, Skeleton Punks, and Lootopians went live on, added bulk buy and add to cart functionality, Wicca Money, the permissionless launchpad, added a feature to airdrop minted tokens, along with the ability to add project descriptions, Valkyrie Protocol collaborated with Terra Poker on their IPC, TerRarity shipped a chart system and Discord rarity bot, ArbieApp added a new feature to alert users of price movements on Telegram, Packs launched a new flexible multisig feature, Hurricane Protocol went live offering private transactions on Terra, Pulsar Finance launched their asset management dashboard with a sleek UI, Illiquid Labs provided infrastructure for migrating Galactic Punks, Galactic Swamps, Lootopians, Terrametaroyals, and Terrawhales, Astroport activated their governance and brought major upgrades to their charts and liquidity screens, Pavo Finance updated their dashboard to allow users to view $VKR assets, Orne Protocol shared their airdrop plans to previous token holders, Soil Protocol shipped their first phase of their roadmap — Automated upload of IPFS, automated NFT mint, candy machine, and whitelist system, Galactic Punks — 3400+ migrated from Terra Classic to Terra, Redacted Money had their ICO and airdropped $RED to Ronin NFT holders, Zodiac Protocol announced that it is developing a LP token refraction protocol, — ⚙️ Integrations & Listings. — Safepal added the ability to secure your Terra assets using their iSafePal software and hardware wallet, Poloniex listed LUNA/USDT and LUNA/USDD trading pairs, CEX.IO listed LUNA/USD trading pair, — 🏦 Governance Updates. — Valkyrie Protocol’s governance proposal to offer Terra’s first dual incentives for $VKR and $ASTRO passed, MetricsDAO received a Community Pool grant of 136,612.02 $LUNA to build freely available, curated data and analytics dashboards, as well as educational content and token bounty programs, Entropic Labs, a secure on-chain source for randomness, received a 50,000 $LUNA token grant from the Community Pool to continue development, A proposal to airdrop 19,504,909 $LUNA from the Community Pool to users who did not receive the correct allocation of $LUNA at Genesis successfully passed. Eligible users can claim their airdrop through the claim interface. For more information on how to claim, please check out our walkthrough Medium article, — 🎥 Media Features. — Do Kwon sat down with Zack Guzman from COINAGE to discuss LUNA, distributing LFG’s reserves to holders of UST, what happened with UST, and more, Panterra hacks TFL servers and escapes with the official Darwin document, That’s all for this month’s Community Update! As always, we want to give a huge thank you to our builders and validators for continuing to drive our ecosystem forward. We’re grateful for your support and can’t wait to see what’s in store for Terra in September! — Additional Resources. — If you’d like to learn more about Terra, check out some of the resources below 👇 Agora (Forum), Twitter, Discord, Website, Telegram, Community Update — August 2022 was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

How to Claim Your LUNA Airdrop

Overview - If you are an eligible user for the Terra Phoenix airdrop, this post will walk you through how to claim your LUNA using the claim interface, as well as suggest a few ways you can meaningfully use your LUNA after claiming. For details on eligibility, vesting periods, airdrop calculations, and other topics related to the Terra Phoenix Airdrop, check out the proposal on Agora. — Claim Timeframe - Eligible users will have one month, from Sept. 4th, 2022 to Oct. 4th, 2022, to claim their airdrop. LUNA not claimed by Oct. 4th, 2022 will be returned to the Community Pool. This includes any unused gas fees. — How to Claim Your Airdrop - — Step 1: Visit the Claim Interface. — Open your browser and visit the claim interface at Upon navigating to the site, you will see the screen below.Image 1: Landing Page IMPORTANT: To avoid phishing attacks, make sure that the URL you’re visiting is — Step 2: Connect Your Wallet and Select Your Origin Chain. — Next, click the ‘Select Wallet’ dropdown menu and choose which wallet you would like to connect. Eligible wallet providers include Terra Station, Terra Station Mobile, Keplr, and Metamask.Image 2: Connecting Your Wallet If you’re connecting with Metamask or Keplr, select the origin chain that you held your USTC, LUNC, or aUST on during the pre- and post-attack snapshots. For details on the specific timing of the pre- and post-attack snapshots for each chain, see the ‘Airdrop Eligibility’ section on the Agora proposal.Image 3: Selecting Your Origin Chain After connecting your wallet, the LUNA eligible to claim will show up, as seen in the example below.Image 4: Checking Your Eligible LUNA Allocation — Step 3: Provide a New Terra Wallet Address and Sign the Transaction. — Enter a new Terra wallet address where you would like to receive your airdrop. If you don’t have one yet, you can set one up on Terra Station in two minutes using this simple setup guide. After entering your new wallet address, verify that the wallet does not have any previous transaction history, and check the box that says “I verify this is a new wallet address with no transaction history”.Image 5: Entering a New Terra Wallet Address If the wallet address you’ve entered is invalid, meaning that it has a previous transaction history or has already been used to claim the airdrop, you will see the message below.Image 6: Invalid Terra Wallet Address After entering your new Terra wallet address and ensuring that it has no prior transaction history, sign the transaction using your wallet from Step 2. Do note that a small amount of LUNA will be deducted from the airdrop amount to account for gas fees for those claiming from non-Terra chains. IMPORTANT: The transaction body you should see when completing this transaction can be found below, based on the wallet you’re signing the transaction on. Users are encouraged to compare this transaction body to the one on the claim interface to avoid any loss of funds via potential phishing scams: For Ethereum (Metamask) and Cosmos chains (Keplr), the message should be your ‘new Terra wallet address’:, Image 7: Message on Metamask TransactionsImage 8: Message on Keplr Transactions For Terra:, Image 9: Message on Terra Transactions — Step 4: Transaction Success. — After signing the transaction using your wallet from Step 2, your LUNA will arrive in your new Terra wallet address! 🎉Image 10: Transaction Success — How to Get the Most Out of Your LUNA - On Terra, there are a variety of things you can do once you’ve claimed your LUNA airdrop: Stake it on Terra Station to earn staking rewards (currently ~14% APR) and airdrops, participate in governance decisions, and strengthen the security of the Terra network, Provide it as liquidity on Astroport to earn swap fees and ASTRO emissions, Pick up some Terra NFTs on and become part of an NFT community, Explore the burgeoning Terra ecosystem on, — Additional Resources - If you’d like to learn more about Terra, check out some of the resources below 👇 Agora (Forum), Twitter, Discord, Website, Telegram, How to Claim Your LUNA Airdrop was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Terra 2.0 — LUNA Airdrop Calculation Logic

Terra 2.0 — LUNA Airdrop Calculation Logic - As part of the transition to Terra 2.0, new LUNA coins will be airdropped to LUNA (now called LUNC), UST (now called USTC), and aUST holders based on the two snapshots outlined in the Terra Ecosystem Revival Plan. Full details of the LUNA airdrop can be found in our previous Medium article. The calculation logic for the LUNA airdrop will be the subject of this post. — Airdrop Information - Total Supply of LUNA: 1 Billion Pre-Attack Snapshot Height: 7544910 (2022–05–07 14:59:37 UTC) Post-Attack Snapshot Height: 7790000 (2022–05–26 16:38:08 UTC) — LUNA Token Distribution. — Table 1: LUNA Token Distribution — Airdrop Calculation Logic - — LUNA Airdrop Ratios. — Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST, LUNA (now called LUNC), or UST (now called USTC) during the Pre- and Post-Attack snapshots. For example, if a user held 1 LUNA (now called LUNC) during the Pre-Attack snapshot, the user would be entitled to an airdrop of 1.034735071 LUNA on the new chain.Table 2: LUNA Airdrop Ratios — Exchange Rates to LUNC. — Below are the exchange rates for each liquid staking derivative of LUNC for both the Pre- and Post-Attack snapshots. For example, if a user held 1 cLUNA during the Pre-Attack snapshot, the user’s wallet would be considered to have held 1 LUNC during that period, and would be airdropped the appropriate amount based on that.Table 3: Exchange Rates to LUNC — Airdrop Allocation. — Using the formula below, one can calculate a LUNA airdrop allocation for a given wallet by inserting the figures they get from Tables 2 and 3 above, and inputting the wallet balance for the different assets at the Pre- and Post-Attack snapshots. Pre-Attack aUST Ratio * min(aUST balance, 500k) + Pre-Attack LUNC Ratio * LUNA balance + Pre-Attack LUNC Ratio * Bonded LUNA balance + Pre-Attack LUNC Ratio * Unbonding LUNA balance + Pre-Attack LUNC Ratio * cLUNA exchange rate * cLUNA balance + Pre-Attack LUNC Ratio * pLUNA exchange rate * pLUNA balance + Pre-Attack LUNC Ratio * bLUNA exchange rate * bLUNA balance + Pre-Attack LUNC Ratio * stLUNA exchange rate * stLUNA balance + Pre-Attack LUNC Ratio * STEAK exchange rate * STEAK balance + Pre-Attack LUNC Ratio * LunaX exchange rate * LunaX balance + Pre-Attack LUNC Ratio * nLUNA exchange rate * nLUNA balance + Post-Attack UST Ratio * (aUST balance + UST balance) + Post-Attack LUNC Ratio * LUNA balance + Post-Attack LUNC Ratio * Bonded LUNA balance + Post-Attack LUNC Ratio * Unbonding LUNA balance + Post-Attack LUNC Ratio * cLUNA exchange rate * cLUNA balance + Post-Attack LUNC Ratio * pLUNA exchange rate * pLUNA balance + Post-Attack LUNC Ratio * bLUNA exchange rate * bLUNA balance + Post-Attack LUNC Ratio * stLUNA exchange rate * stLUNA balance + Post-Attack LUNC Ratio * STEAK exchange rate * STEAK balance + Post-Attack LUNC Ratio * LunaX exchange rate * LunaX balance + Post-Attack LUNC Ratio * nLUNA exchange rate * nLUNA balance = LUNA Airdrop Allocation — Example. — Table 4: Example of a User’s Wallet Assets Included in the Pre- & Post-Attack Snapshots — Example User’s LUNA Airdrop Allocation. — Table 5: Example User’s LUNA Airdrop Allocation If the final allocation of new LUNA to the address is less than 1 LUNA, the airdrop will be allocated to the community pool. — About Terra 2.0. — The new Terra network will inherit the deep developer pool and passionate LUNAtic community that made Terra Classic the 2nd largest smart contract blockchain behind Ethereum. As the community migrates to the new chain, most of the popular Terra Classic projects will be joining them, including: Astroport, Prism, RandomEarth, Spectrum, Nebula, and many others, Built with interoperability in mind, Terra will be the gateway to the wider Cosmos ecosystem and beyond. — Additional Resources. — If you’d like to learn more about Terra, check out the resources below 👇 Agora (Forum), Twitter, Discord, Website, Telegram, Terra 2.0 — LUNA Airdrop Calculation Logic was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Terra 2.0 — LUNA Airdrop

Terra 2.0 — LUNA Airdrop - LUNA, the proof-of-stake coin powering the new Terra blockchain Terra 2.0 is nearly here. As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community, as described in Proposal 1623. Upon Genesis on May 27th, 2022, eligible holders of LUNC, USTC and aUST will be airdropped LUNA on the new chain. The full distribution schedule can be found below. — LUNA Airdrop - The amount of LUNA you will be eligible to receive will be determined by the types of tokens you held on the Terra Classic chain, the time-period that you held these tokens (based on Pre-Attack and Post-Attack snapshots), and the quantity of tokens held. The Pre-Attack and Post-Attack snapshots are as follows:Table 1: Timeframes & Block Heights for Pre- & Post-Attack Snapshots — Eligibility - You will be eligible for the LUNA airdrop if you: — At the Pre-Attack snapshot, hold:. — LUNA (including staking derivatives), Less than 500k aUST (UST deposited in Anchor), — And/or at the Post-Attack snapshot, hold:. — LUNA (including staking derivatives), UST, Table 2: Eligibility for Airdrop & LUNA Vesting Schedule for Eligible Users — When Will I Receive My Airdrop? - As Table 2 illustrates above, the distribution and vesting of airdropped LUNA depends on the wallet’s token type & quantity, as well as the snapshot it exists in. Date of first airdrop: Genesis — May 27th, 2022 At Genesis, 30% of the LUNA airdrop will be immediately available to Pre-Attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and Post-Attack users with any quantity of LUNA (including staking derivatives), UST, or both. — Example Scenario — Alice. — Alice holds LUNA and is an Anchor depositor. She has the following tokens in her account:Table 3: Example Scenario — Alice Alice will receive 30% of her eligible airdrop at Genesis on May 27th. Thereafter, her remaining airdrop will be vested linearly to the same wallet address over 2 years with a 6 month cliff. — Vested LUNA - At Genesis, all airdropped, vesting LUNA will be automatically staked to Terra validators in order to preserve network security. Users will earn staking rewards on their vesting LUNA starting from the point at which it is staked, and can claim these rewards at any point. Users can also undelegate, redelegate, and delegate their LUNA while it’s vesting and being staked. This ensures users have agency over which validators their vested LUNA is staked with. Following the unlock of LUNA at Genesis, users will not receive the additional vesting LUNA until at least 6 months later (this is known as a 6-month cliff). The vested LUNA will be distributed every block (approximately every 6 seconds) to the same wallet address after the user’s cliff. If a user would like liquid LUNA as soon as their cliff hits, they’ll need to undelegate their staked, vested LUNA at least 21 days before the first day of their cliff. Users can also keep their vested LUNA staked after their cliff hits to continue earning staking rewards. — Assets, Chains, Bridges, and CEXs supported - As we work towards distributing LUNA to as many eligible users as possible in the airdrop, it’s important to note that technical issues restrict us from including all UST and LUNA holdings in the snapshots. On a best effort basis, and where possible, we will earmark the total amount of LUNA in the bridge contract to be set aside as part of the community pool for distribution after the chain launches. Assets that may not be included: — UST or LUNA bridged off of Terra. — Users with bridged UST or LUNA who would like to be included in the Post-Attack snapshot need to bridge back to Terra before the snapshot is taken., — UST or LUNA on Terra protocols that cannot be easily identified. — All protocols listed on DeFi Llama here will be covered, in addition to a few others that are known., — UST or LUNA on CW3 multi-sig contracts. — Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included., The following table details the full list of chains, bridges, and CEXs that will be supported in the airdrop at Genesis:Table 4: List of Chains, Bridges, & CEXs That Will Be Supported in the Airdrop This table will continually be updated as we receive new information regarding the support of the airdrop. — About Terra 2.0 - The new Terra network will inherit the deep developer pool and passionate LUNAtic community that made Terra Classic the 2nd largest smart contract blockchain behind Ethereum. As the community migrates to the new chain, most of the popular Terra Classic projects will be joining them, including: Astroport, Prism, RandomEarth, Spectrum, Nebula, and many others, Built with interoperability in mind, Terra will be the gateway to the wider Cosmos ecosystem and beyond. — About Calculation Logic - — Caveats. — Airdrop ratios depicted below are estimations* and can only be finalized when the block height of the ‘Post-Attack’ snapshot (i.e. Block 7790000 [2022–05–27, 00:38:08+08:00]) is reached., Cross-chain assets, such as Wrapped UST on ETH/MATIC/BSC, will be set aside and locked in the community pool at Genesis. Distribution of funds can only be made after Genesis., Eligible aUST Supply Formula = SUM(MIN(user’s aUST balance, 500k)) — TFL wallets UST Supply Eligible UST Supply Formula = UST Supply — TFL wallets UST Supply Eligible LUNC Supply Formula = LUNC Supply — TFL wallets LUNC Supply Pre-attack aUST holders airdrop ratio Formula = aUST allocation / Eligible Pre-attack aUST Supply Pre-attack LUNC holders airdrop ratio Formula = LUNA allocation / Eligible Pre-attack LUNC Supply Post-attack LUNC holders airdrop ratio Formula = LUNA allocation / Eligible Post-attack LUNC Supply Post-attack UST holders airdrop ratio Formula = LUNA allocation / Eligible Post-attack UST Supply Final user allocation Pre-attack aUST holders airdrop ratio x User pre-attack eligible aUST holdings + Pre-attack LUNC holders airdrop ratio x User pre-attack LUNC holding + Post-attack LUNC holders airdrop ratio x User post-attack LUNC holding + Post-attack UST holders airdrop ratio x User post-attack UST holding Note: If the final allocation of new LUNA to the address is less than 1 LUNA, the airdrop will be allocated to the community pool. — Additional Resources - If you’d like to learn more about Terra, check out the resources below 👇 Agora (Forum), Twitter, Discord, Telegram, Terra 2.0 — LUNA Airdrop was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Project Spotlight — Leap Wallet

Project Spotlight — Leap Wallet - In our newest issue of Terra’s Project Spotlight, we’re pleased to introduce Leap — a next-generation wallet for Terra that brings dApp access, staking, DeFi, NFTs, identity, social, web3 and web2 app interactions into one platform. To many LUNAtics in our community, Leap is a familiar face that we would have interacted with. You may have seen it appear in the pop-up when connecting your wallet with many popular Terra dApps including Anchor, Astroport and Stader Labs. Leap aims not just to be a wallet, but a key to unlocking every exciting aspect of the Terraverse. The team’s vision stems from Terra’s rapid growth in the past year and its ascension to one of the biggest ecosystems in crypto today, with close to 100 announced dApps and 80k+ new wallet addresses being created every month. Even for the most OG LUNAtics, it has become hard to keep pace with new developments and find the best opportunities to save, invest & track their assets. The team believes that Terra needs a new-age wallet that lets users access this complex and evolving universe through a simple, intuitive and feature-rich interface. Leap’s core team comprises ex-McKinsey, Facebook, Microsoft builders and engineers. Aligned with Leap’s vision and ability to execute, Terraform Labs has provisioned the team with a grant to kickstart development. Target User Leap is built with every Terra user in mind — right from the beginner wanting one-click savings to the advanced LUNAtic using several complex financial products. The team started development with the most prominent use cases targeting the median Terra user and is rapidly expanding to cover the crypto beginner and advanced users. Product Strategy Leap aims to deliver the best wallet experience for LUNAtics by focusing on: User experience — drawing inspiration from top web2 consumer apps and through deep user research, Leap wallet will offer a simple and intuitive UX delivered through a clean and well-designed UI., Convenience — all critical components of a user’s Terra experience will live inside the wallet, as opposed to requiring navigation between different platforms., Trust & security — Building a wallet with best-in-class security and protecting users from scams & phishing attacks is the team’s top priority. Leap is a non-custodial wallet, i.e. it doesn’t store user private keys and can never access user funds., Decentralized stablecoins as the future of money — as this vision unfolds, Leap will partner with the necessary dApps/protocols to help users best on-ramp, save, invest and spend Terra stablecoins., Next generation wallet features — keeping pace with cutting-edge crypto innovations, Leap will integrate NFTs, gaming, metaverse, identity, social, commerce and interactive media experiences with Leap., Composable & Modular architecture — the team is building Leap’s tech stack to be composable & modular, to scale & iterate faster. In the future these modular components can be extended to build adjacent products., Product Vision As the first order of business, Leap will make it safe and easy for users to store, send, stake, and swap tokens. Leap may be downloaded as a Chrome Extension and the team is currently working to expand to other form factors including native iOS, Android and desktop apps, to bring Leap to users where they already are. Popular Terra dapps such as Anchor, Astroport, Mars may be connected with Leap. The goal is to allow users to swap through Astroport, invest in Anchor, one-click stake through Stader, purchase NFTs and more — directly within the convenience of your Leap wallet. To support this, the team will build tech infrastructure that allows protocols to develop mini-apps inside the wallet. Further, as the multi-chain vision for UST starts playing out, Leap’s team will integrate with cross-chain bridges to support the import and export of assets from Terra, as well as integrate with new multi-chain protocols that emerge. With all these in place, Leap intends to become a critical part of the infrastructure layer of Terra. Here are some directions in which the team intends to expand from here: Social & Identity Once Leap wallet has established itself as a product that users rely on daily, it can expand beyond just a transaction enablement layer into: Identity — build your decentralized identity on Leap with verified NFTs as profile pictures, a human-readable TNS address, Linktree style links and more., Decentralized social graph — build your web3 network on Leap that you own and can take with you to other applications., Communication & social layer — Leap itself could become one of those applications with chat, groups, followers and more embedded inside the wallet., Gaming/Interactive Media/Metaverse Closely tied to social and identity is the concept of building a gaming profile on Leap, complete with in-game NFT assets that you own, exchange and port across games. Similar concepts could be built for digital assets that you can move through virtual worlds designed for work and play. As play-to-earn becomes more popular, the team will build dashboards that let you easily track, convert and spend your earnings. Terraverse as a Service Leap aims to become a critical middleware layer that provides the rails for any application (crypto or otherwise) to access the benefits of UST and other protocols on Terra. Leap’s modularized architecture would allow us to bundle relevant wallet functionalities (e.g. deposits on Anchor) into an SDK that can be made available to other crypto protocols and web2 fintech apps. Product Roadmap Leap is being developed in multiple phases after the rollout of the initial MVP. The goal is to ship additional features iteratively in short cycles, to make sure that the team is always delivering value and keeping the roadmap flexible for user feedback. Phase 0 — MVP (Completed) Leap launched with a basic version of the product that covered the most critical wallet workflows and got them immediate feedback from users. Onboarding — create a new wallet or import an existing Terra wallet, Portfolio Viewer — see total and splits across Terra-native assets, Transfers — send and receive Terra-native assets, Auto-lock — wallet locks after 15 minutes of non-activity as an additional security measure, Dark mode default 😎, Phase 1 — Wallet Basics (Completed) Rapidly bring the most-used and most-requested wallet features into Leap with a simplified and more user-centric design: Support for CW-20 tokens, Address book — easily save and access frequently used addresses, In-wallet Swaps — powered by integration with Terraswap, Astroport & Loop, In-wallet Staking with easy access to validator metrics and visibility into rewards and airdrops, Connect your Ledger — includes multiple wallet support, NFT Collectibles — view NFTs inside the wallet with useful metadata around price, collection and floor prices (live in phase 3), Activity log — see recent transfers and swaps, Phase 2 — Traverse the Terraverse (Complete) The team completed Phase 2 by Mar, 2022 (three months ahead of schedule) to make Leap the gateway to all major the dApps and protocols on Terra Protocol Integrations — Connect Leap on all important Terra protocol webapps. Access the most relevant protocols directly inside the wallet — Anchor, Stader, TNS, etc., Fiat on & off ramps — easy on-ramp from fiat to UST through an integration with Transak and Kado, Staking v2 — One-click staking through Stader integration (Stake Pools, Liquid Staking, Stake+) along with Vanilla staking, Detailed portfolio tracking — breakdowns into different asset holding, profitability, etc., DEX Aggregation — access the best swap rates across Astroport, Loop and Terraswap, Phase 3 — One-stop gateway to Terra (Current development phase as of writing) iOS and Android apps — Access Leap in the form factor that you are comfortable with, Enhanced Activity Page — An activity log to provide readable protocol level activity, Auto-fetch assets — Automatically fetch all the important native and custom tokens that the user owns, DeFi opportunities in-wallet — Invest in Liquidity Pools, vaults, and other yield farming opportunities from within Leap, NFT Gallery v2 — Easily send NFTs to another address. View important metadata around floor price, last sold price, and activity, Cross-chain Transfers — Transfer Terra-native assets to other chains from within the wallet, NFT Marketplace — Integrate with NFT Marketplaces to let users discover and purchase NFTs from within the wallet, Phase 4 — Mini-apps & going beyond the Terraverse (May — Dec 2022) Mini-apps/Marketplace of integrations — Protocols/developers can integrate their existing dApps or build new dApps that can be directly accessed within the wallet., Cross-chain transfers —  a. Aggregation across cross-chain bridges to offer the cheapest transfer rates b. Integration with cross-chain yield protocols, In-wallet notifications — Modeled around EPNS, Leap plans to build a notification system for alerts on liquidation, airdrops, governance notifications, etc., Launchpads — invest in exciting new Terra projects from within Leap, DeFi/Invest — To enable every yield opportunity through Leap — One place to browse through and invest in — savings (Anchor), Liquidity Pools (Astroport, Terraswap), lending & borrowing (Mars, Edge), staking (Stader), yield autocompounders (Apollo, Spectrum), yield optimizers (Nexus), Degen Vaults (Stader), single side staking of protocol tokens, Play to Earn, Virtual Asset Management, Easy off-ramp from in-game tokens to fiat, Miscellaneous, Multisig Support, Fiat On/Off Ramp Aggregation — Access the best ramp rates across all major On-ramp providers from inside Leap, The LEAP Token Finally, the LEAP token is launching soon, and more details will be released in the tokenomics section of the upcoming Leap Wallet Litepaper. Hint — LEAP token rewards will be distributed to active wallets… — Leap’s vision and plans to improve the wallet experience on Terra is one that would benefit every LUNAtic. We are committed to supporting Leap’s development atop of Terra and give LUNAtic a wallet experience that goes beyond just supporting transactions. Say hello to your new Terraverse passport, fellow LUNAtic. For more information about Leap, make sure to check out their website and socials below! Website — Telegram — Discord — Twitter — Project Spotlight — Leap Wallet was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bootstrapping the Metaverse

The Complex Game Economy of DeFi Kingdoms. — The past months have seen crypto games such as Axie Infinity and DeFi Kingdoms (DFK) reach a combined market cap of several billion dollars. While this is significant[1], in the future: Gaming could bring millions of new users into a blockchain-powered metaverse — where, for this article, we adopt the following short definition:Metaverse: Open virtual world hosting societies with their own economies. Terra’s enormous success at offering trustworthy algorithmic stablecoins such as UST has been contingent on their adoption by a vibrant ecosystem of high-quality protocols. Every additional such project further strengthens the foundation of trust that the Terra peg can rely on in the rarest and most extreme market conditions. Due to network effects, the total here is more than the sum of the parts, and any effort in increasing adoption is time well spent. Simultaneously, the money of a truly open metaverse ought to be decentralized, yet ideally be of stable value in the real-world. It must also be easy to deploy and practical to use. All of this is true for Terra’s stablecoins leveraging a blockchain with fast consensus, a clean wallet interface, and protocols such as Anchor serving as a convenient decentralized neobank. Bridges give developers freedom to connect to other chains. For example, the IBC protocol allows for the easy acceptance of Terra stablecoins on new gaming chains chains that could be powered by the Cosmos SDK with fast block times and Tendermint’s instant finality; speedy transaction settlement and high throughput are important for games as much as for anything else. Terra is therefore actively implementing the synergy between its product and the metaverse and is working with game developers to enable further adoption of its products in virtual economies — expect more news on this soon! In the future, millions of new users enjoying the utility of Terra’s product will create a bandwagon effect that will cement Terra as the world’s stablecoin. While current games such as DFK are not aiming to provide a realistic virtual reality, they can be stepping stones bootstrapping the metaverse. DFKs complex economy is indeed deserving a closer look: as we will argue shortly, this is a feature that can play a crucial role in achieving the goal of mass-onboarding gamers onto the blockchain. But is it sufficient to ensure a stable virtual market? — Are Gaming & DeFi Compatible? - There is an elephant in the room that we must address. Are crypto games ever to appeal to traditional gamers? Gamers are skeptical. One of the crypto community’s figureheads, @cobie, known for his cheerful manners moderating the popular podcast, recently had to learn this the hard way:Figure 1. Cobie Tweet (Source: Twitter) But who wouldn’t understand the gamers’ frustration? One reason that is often cited is that of hardware availability. For example, the Geforce RTX 3060, supposed to be an affordable entry to ray tracing-improved 3d graphics, but also well suited for Ethereum mining because of its energy efficiency, was available for exactly 4 days until Christmas 2021 at a popular electronics online store of our choice (during which time the price jumped up by 20%). Perhaps more importantly: Money and gaming is a double-edged sword. Gamers in the past have been burned by novel concepts invented to extract money from them. A recent article by the NY Times summarized the dire situation [2]. Gamers presumably care about (in varying proportions depending on person and game): Community: From close buddies to clans to the wider community that shares gaming experience and/or lore., Opportunity: The opportunity to experience fun and entertainment, take on different roles in a virtual world, and bond with peers on joint adventures., Fairness: Skill-based ranking (skill ranges from manual control abilities to total play time and experience)., It’s easy to see that the metaverse idea maps well to the first two points. It enriches the community aspects and realism of the virtual experience offered by the game. In particular, the emergence of complex dynamics of an in-game economy for NFT assets and fungible assets can create a much more fascinating and believable world than what could have been hard-coded. The last point, fairness, is the tricky one. Rewarding real-world-rich players in the game with unfair skill advantages is arguably the wrong path. Instead, one should do the inverse: skilled players may be rewarded monetarily with either NFTs or fungible tokens. This is fine as eSport leagues that pay prize money have been well-accepted since the early 2000s. The open metaverse enables a new way of fairly rewarding gamers beyond winning prizes in competitive leagues. With increasing experience in the world, players increase their ability to leverage their knowledge about the virtual economy for profit. Sure enough, NFTs that represent unique and useful assets in the game need buyers. Measures must then be taken to avoid unskilled gamers winning by doing nothing except buying these assets. Requirements around skill should be set to make use of them (either effectively, e.g. in a shooter, without skills of movement and aiming, a more powerful weapon will be nearly useless, or even strictly by requiring the virtual player to have leveled up enough to carry this weapon).The metaverse enables a new way of fairly rewarding gamers: with increasing experience in the world, players increase their ability to leverage knowledge about the virtual economy for profit. — DeFi Kingdoms - DFK self-characterizes as “A game, a DEX, a liquidity pool opportunity, and a market of rare utility driven NFTs”. Or, even shorter, as a “DeFi game with NFTs”. Since its inception, it has successfully relocated the usual token trading on automated market makers into a fantasy game world. New users visiting in their web browser can connect their wallet and get greeted with captivating medieval music and a stunning pixel art world map that behaves similar to Google maps. This map can be used to navigate to different rooms and DeFi menus by clicking on locations and then NPCs. There are no dynamic dialogues or events, nor (for the moment) interactions with other users outside of market menus. The fantasy world seen in the browser is merely a fun and surprisingly efficient frontend that organizes access to the virtual economy of DFK. Yet, it appears to be somewhat alive due to looped animations and updates in the markets that involve other players.Figure 2. Example Room on DFK (Source: DFK) — Tokens. — The main in-game currency of DFK on Harmony is JEWEL (DFK plans to expand to other chains in the future with new main tokens). This token is the linkage between the game and the outside economy — the denomination of the most important assets (hero NFTs), and the reward token for liquidity providers. It is carefully designed with lock-up mechanics and emission / unlock schedules. There are other currencies as well that have more specific in-game purposes and must be traded against JEWEL or each other. The core elements of the game are the hero NFT trading cards. Players are able to buy these from other players using an in-game market, gain rewards by doing profession quests, level them up and improve their stats, mint new heroes combining two parents, rent them out for this purpose, and ultimately use them for PvP rule-based fights. Another kind of NFT are plots of land. At the time of writing, the floor price for heroes is about $400, and land auctions are just beginning. — The DeFi Kingdom’s Economy. — To assess the complexity of the hero NFT market, we have built a machine learning model that aims to predict hero prices from the trading card properties, trained on sales data. To accomplish this, besides using the features that can directly be read on the cards, we have constructed a series of informed nonlinear features such as alignment of the hero class and subclass with the profession gene and with the stat boosts, further alignment with the relevant profession skill, and some others. We have excluded the highest ranking classes, the genesis generation 0, the highest “mythic” rarity, and sales below 20 and above 1000 JEWEL since there are not enough data points to expect a machine learning algorithm to understand what is going on. For better performance, we have modeled the logarithm of the price because of its otherwise long-tailed distribution.Figure 3. Hero NFT sales in DFK where each dot represents a sale of a hero NFT at a given JEWEL price & sales above 250 JEWEL are cut from the plot We have partitioned the data of all hero sales over the past three months into seven complete (isocalendar) two-week blocks, see Figure 3. We have then trained a so-called random forest regressor on one randomly selected half of sales data of each of the three blocks that are marked in the plot above. A random forest is an ensemble of decision trees that is particularly similar in its working to the thinking process of a group of humans.[3] The other half of the data is reserved for the performance evaluation plots below. Figure 4 shows an error percentage of the price prediction for the three models (with their center fitting time again shown by vertical lines) when they are applied to the test data in each of the other blocks as well.Figure 4. Comparison of three models fitted to data at three different times. Plotted is the relative error of predictions for sales that were not included in training of the models. As expected, each model has the least error among the three of them at the time when it is fitted. The black one reaches down to nearly 10% of the median price most recently (here we consider the median absolute error, meaning in this particular case that half of the predictions are within an error margin of about 7 JEWEL, given that the median price is 60 JEWEL at the block indicated by the black vertical line from week 2 to 4). No model performs as well at early times, and the early model (light blue curve) amasses nearly 100% error later. This large error can easily be understood by a general shift in hero prices: the early median sale price is 140 JEWEL instead of 60. It is therefore advisable to consider a metric that removes general market effects such as the overall price evolution. A particularly convenient choice is Pearson’s correlation coefficient r (see footnote [4] for a technical explanation of how to arrive at this conclusion). In this metric, if the model has understood better what hero properties matter most, we expect larger correlations, even if the model does not know how much heroes cost overall at the current market condition.Figure 5. Similar to Fig. 4, but we plot the correlation between model predictions and data (higher is better). We note that the early model in Figure 5 is now indeed rather flat. It seems to capture some basic facts that were already evident months ago. We further confirm that each model works better than the other two around the time it was fitted. The latest model (black) again performs particularly well now, but much worse at early times, suggesting that new hero properties matter now and much more so today than those that played a role in the past. In summary, this analysis shows that Hero prices can be predicted with machine learning methods., There are still considerable fluctuations of sale prices that cannot be explained with carefully built models. This suggests that players themselves do not agree among each other either, although this is improving with time (black curve increasing)., With time passing, what is considered valuable changed., Together, this proves that DFK’s hero market alone is complex enough to reward experienced players. Since it is clearly impossible for a newcomer to know more than what the machine learning algorithm has learned here, these players will sometimes sell under and buy above a fair price, causing fluctuations. On the other hand, the correlations that are exposed here can only come from (experienced or helped) players that do not act randomly. Additionally, the idea of what makes a good hero is changing with time, demanding continuous engagement of the players to remain on top of things. — Avoiding Pyramid Schemes - Figure 6: Temple of Kukulcán, a Mayan pyramid. (Source: Tanja Cotoaga on Unsplash) The law of conservation of money dictates that not everyone can end up in profit simultaneously from playing a game. Instead, money will ultimately have been moved around between players. What nature are these transfers going to have? Are they predominantly: Transferred from late players to those who have been in early (a pyramid), OR Transferred from unskilled to skilled (… a flat-roofed house)?, Assuming a game that is appealing and successful in the long term, eventually we are going to find ourselves in the second situation. On the other hand, rewarding early birds is necessary to provide initial liquidity for the in-game market makers, and creating demand for the game token may be used to fund development. Thus, there is a need for a transition, and the goal must be to avoid this transition being painful for gamers who are joining in-between. — DeFi Kingdoms’ approach. — For the moment, DFK is still attracting new players mostly by promise of profit, such as LP staking rewards paid in JEWEL. Additionally, earlier players hold a large part of the JEWEL supply in locked form since the JEWEL APYs were much higher in the past and JEWEL was cheaper. The locking prevents them from realizing all of their gains for the moment. For a smooth transition to a sustainable game economy, JEWEL being bought by new players must compare to the locked supply during the time the latter is unlocked. DFK appears to be on track with its efforts. We have illustrated how complex the economy is becoming, and with PvP fights starting, a more complete game will be emerging that rewards players for their experience and time they put in. Meanwhile, the narrative of such a game being developed by an obviously talented team is certainly playing a role in the growth of DFK. — The Future. — There are two ways to further ease the transition to a stable economy. The obvious one requires capital from the developer side to fund much of the game development before going public, and potentially to provide initial liquidity for in-game markets. This would reduce the transition phase to an initial turbulent economy before reaching equilibrium, which may come with its own difficulties. The second path to more stability of the game economy during its growth is once more powered by the metaverse paradigm: to increase the likelihood that early adopters are long-term supporters of the game ecosystem, they could be rewarded with less liquid and less crucial NFT assets instead of the main token. Such assets can be particularly attractive when they promise utility and composability across games. After all, this is a core novel feature NFTs are bringing to the table: their association to a wallet address that serves as a metaverse identity gives them the power to transcend any particular game. Users are incentivised to come up with and build new projects, giving meaning to owning NFTs of popular games. On the other hand, NFTs do not even necessarily have to be tradable. Their value may be confined to the metaverse, providing benefits and status to the original wallet owner. And while the supply of assets of one particular class would need to be limited, their utility could be tied to sustained user activity such that inactive wallets lead to the permanent deactivation of the utility of the asset. There are certainly many paths towards a future that is exciting and fair to traditional gamers. Admittedly, novelty implies an increased level of unpredictability which may be seen as a risk. Terra helps to mitigate such uncertainties since costs and asset values remain stable and transparent when denominated in Terra stablecoins, while preserving censorship resistance for a truly open metaverse. Terra welcomes gamers with open arms and is on a mission to help create positive-sum experiences for everyone. [1] This number is significant as a crypto project but also starting to be noticeable when compared to the $100+ billion gaming market. [2] [3] Linear models, after introducing new coordinate dimensions for each option of the categorial part of the data, also perform decently thanks to the nonlinear features we have added. [4] Shifts in price are removed when considering a metric called the explained variance. It considers the ratio of the fluctuations of the model errors (differences of prediction and truth) versus those of the truth alone (this ratio, which is zero for a perfect model, is then subtracted from 1 for a convenient measure reaching 1 for a perfect model). Next, one may further construct a measure that is also invariant under rescalings of price. To this end, we can introduce a factor rescaling the model predictions before taking the difference with the truth and optimize it to maximize the explained variance. One can show that this leads to (the square of) Pearson’s correlation coefficient r, which simply relates the covariance of model and truth to the product of the respective standard deviations and is indeed invariant under linear transformations. Bootstrapping the Metaverse was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Washington Nationals Join Forces with Terra Community DAO in a First-of-its-Kind Partnership

After passing the fastest governance proposal in Terra’s history, it’s time to fuse the real-world with the Terraverse. The Terra Community Trust (TCT) has entered a 5-year, $38.15M partnership with the Washington Nationals MLB franchise to promote Terra across various parts of its home venue and TV network and make efforts to implement UST as an accepted currency in venue transactions. Let’s explore the Nationals’ background, unpack what the sponsorship will look like at Nationals Park (Hint: Alpha leak incoming), and briefly discuss what this means for the vibrant LUNAtic community. — The Washington Nationals — Background - Since their inception, the Nationals have established themselves as an industry leader in fan experience technologies, making them the perfect partner for the Terra community. From being the first franchise to launch digital ticketing a decade ago to establishing the most widely adopted loyalty platform in MLB, the famed MLB team continues to look for ways to surprise and delight their fans. Here are just a few of the Nationals technological achievements over the last ten years: First MLB team to use digital ticket entry at all turnstiles., First MLB team to enable contactless payments at all concessions and retail locations., First MLB team to implement NFC ticketing in the World Series., These 2019 World Series Champs based out of Washington DC are exactly the type of forward-thinking, big-name franchise the Terra community wants to collaborate with long-term in order to bring UST to the masses. As part of this partnership deal, the Washington Nationals will use commercially reasonable efforts to implement UST as an accepted currency in venue transactions by the start of the 2023 season. — Introducing Terra @ Nationals Park - The sponsorship’s comprehensive details can be found in Do Kwon’s original Agora post here. For now, let’s take a look at what Nationals Park may look like this season with an alpha drop from the Washington Nationals creative team. Note: The images presented below are high-fidelity renderings of what the sponsorship elements could look like but are not pictures taken directly from the stadium. Many of these elements will be completed before the start of the 2022 season. — Enhanced Brand Awareness & Exposure. — Located directly behind home-plate, the Terra Club will be home to prominent Nationals fans holding a collective $1 trillion in market capitalization (6 Fortune 100 companies and 8 Fortune 500 companies). These fans represent a new market for Terra both on the individual and institutional level.Figure 1. Entrance to the Inside of the Terra Club (Source: Washington Nationals)Figure 2. Entrance to the Outdoor Section of the Terra Club (Source: Washington Nationals)Figure 3. Behind Home-Plate Signage & Seating in the Terra Club (Source: Washington Nationals) — Ballpark Signage & Flexible Messaging. — In addition to the Terra Club, the Terra brand will also be displayed in highly visible positions around the park including a 20 foot by 7 foot sign in left-field, 580 feet of LED Fascia Ribbon signage, digital out-of-town scoreboard signage, digital out-of-home network boards, and a flexible in-park television network. It’s important to note that the messaging on the digital boards and TV network below can be adjusted based on the Terra community’s wishes throughout the duration of the five-season deal. As of this partnership, the Terra Community Trust (TCT) is now in full control of the Terra brand assets!Figure 4. 20’ x 7’ Signage in Left-Field, in Front of the Visiting Team’s Bullpen (Source: Washington Nationals)Figure 5. 580 Feet of Flexible LED Signage (Source: Washington Nationals)Figure 6. Flexible Out-of-Town Digital Scoreboard Signage (Source: Washington Nationals)Figure 7. Flexible Out-of-Home Digital Signage (Source: Washington Nationals)Figure 8. Flexible In-Park Television Network Display (Source: Washington Nationals) — A Remarkable Step Towards Setting Money Free - With the formation of the TCT and the passing of Prop 186, the LUNAtics now have the legal entity and mainstream exposure necessary to make meaningful strides towards expanding access to censorship-resistant, decentralized money. It is now up to the Terra community to decide how else to utilize the TCT assets to advance its mission of setting money free; the opportunity is in our (diamond) hands. — Helpful Resources - If you’d like to learn more, check out the resources below 👇 Washington Nationals Official Website Follow the Washington Nationals on Twitter Do Kwon’s Prop 186 Agora Post Terra Community Trust (TCT) FAQ Terra Docs Washington Nationals Join Forces with Terra Community DAO in a First-of-its-Kind Partnership was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Project Spotlight — PRISM Protocol

Project Spotlight — PRISM Protocol - In our latest issue of Project Spotlight, we’re thrilled to introduce PRISM Protocol — a groundbreaking new derivatives protocol which is incubated by TFL and Refracted Labs and allows users in the Terra community to refract their yield-bearing assets into principal and yield tokens; thus, creating novel asset classes in the DeFi space. Let us dive into the problems that PRISM solves, and cover its V1 and its four initial launch phases. Following this, expect to glean insights into the overall product roadmap and tokenomics of $PRISM. — Problems & Background - As it currently stands, accessing liquidity from yield-bearing assets (YBA) in crypto can be inefficient. Most users pledge assets as collateral to borrow against, exposing themselves to liquidation risk and the need to “overcollateralize”. As typical crypto market volatility ensues with rapid price fluctuations, users’ funds are often lost due to liquidations. Over $100B in Bitcoin liquidations were witnessed in 2021 alone.Figure 1: Bitcoin Liquidations in 2021 (Source: Arcane Research) Not only is there a clear inefficiency regarding accessing liquidity using YBAs, there also exists little room for navigation when it comes to isolating one’s risk to staking yield, as well as price fluctuations. The implications here are if one holds a Proof-of-Stake (PoS) asset and stakes it, one will be subject to fluctuations in both staking yield and price without having a reasonable way to protect oneself from one side whilst exposing oneself to the other. The PRISM team aims to solve the aforementioned inefficiencies. Their breadth of experience in the $564 trillion interest rate and currency derivatives markets in TradFi position them with a unique understanding of the underlying mechanisms at play in DeFi. Eager to disrupt the existing staking landscape and empower users, the team is ready to launch PRISM Version 1 (V1). — Welcome to Terra, PRISM - In PRISM’s powerful V1, users will be able to access a host of opportunities, including: Instant access to liquidity with no risk of liquidation or daily funding costs due to monetization of $LUNA’s future yield., Isolation of one’s risk of fluctuation in $LUNA’s price or staking yield through the splitting of $LUNA into a principal and yield component that can be freely traded., Access to capital-efficient liquid staking derivatives and the ability to claim all $LUNA airdrops in one convenient location., Leveraged exposure to $LUNA’s staking yield with no risk of liquidation via the selling of future price exposure., Ability to set limit orders on the PRISM AMM for assets like $LUNA, $aUST, and $PRISM., Voting on governance proposals using the $PRISM token to determine outcomes, such as the assets PRISM lists, the distribution methodology of community funds, and the fee parameters for the protocol., Staking of $PRISM to receive $xPRISM — this entitles the user to a share of PRISM protocol fees and voting rights., Liquidity provision for $xPRISM to receive LP incentives, AMM LP fees, protocol fees, limit order fees, and PRISM AMM fees., Reduced administrative burden, i.e., the compilation and reporting of yield income and airdrops., These opportunities will be realized with the launch of multiple protocol elements, distributed over four phases. Let us take a brief glimpse at each one, so as to understand how they come to fruition. — Phase 1 — PRISM Forge (Feb. 1st — 5th). — Phase 1 is the token generation event for $PRISM. In this phase, 7% of the total $PRISM supply (i.e., 70,000,000 tokens) will be released to users who contribute $UST to a pool. Users will effectively swap their $UST for $PRISM and be awarded $PRISM in proportion to the amount that they contributed to the pool. The price of $PRISM will be based on the amount of $UST deposited into the pool — everyone who contributes will receive the same price. This stage is the user’s first opportunity to get their hands on the $PRISM token. — Phase 2 — PRISM Swap (Estimated Feb. 6th). — Two key elements will launch in phase 2: The PRISM DEX launches with the $PRISM — $UST pair — this allows users to buy and sell $PRISM on a DEX for the first time., PRISM governance goes live, allowing users to deposit their $PRISM into the $xPRISM pool to receive $xPRISM tokens — this entitles them to a share of the protocol fees and governance rights. Note that, in phase 2, only swap fees will be allocated to $xPRISM holders., Phase 2 is important for $PRISM holders as there will be an immediate use-case for the token after distribution from phase 1. After some astute observations regarding the shortcomings of previous token launch strategies, the PRISM team refined their own. — Phase 3 — PRISM Refract (Estimated Feb. 11th). — Phase 3 is where much of the protocol launch will occur. Here, users will be able to: Stake $LUNA to the PRISM vault in order to receive $cLUNA, from which they can then refract into separate principal and yield tokens ($pLUNA and $yLUNA)., Stake $yLUNA in order to receive $LUNA staking yield in the form of $pLUNA, $yLUNA, and airdrops., Provide liquidity in order to receive fees and LP incentives., Stake $PRISM in order to receive $xPRISM — this also affords users protocol transaction costs and a percentage of the yield that $yLUNA stakers receive; airdrops and limit order fees included., Trade or leave limit orders for $PRISM, $LUNA, $xPRISM, $yLUNA, $pLUNA, $cLUNA, $UST, and $aUST on PRISM Swap., There are a myriad of ways that one might want to utilize PRISM protocol… the prospects are limitless, and tantalize the imagination from a DeFi perspective. The use-cases for the principal tokens (PT) or yield tokens (YT) generated through PRISM refraction alone, are interesting.Figure 2. PT and YT Use-Cases Post-Refraction (Source: PRISM Litepaper) — Phase 4 — PRISM Farm (Estimated Feb. 16th). — In phase 4, 130,000,000 $PRISM will be available to farm for users who would like to stake the $yLUNA that they received from refraction in phase 3. The staking yield is converted to $PRISM and provided to $yLUNA stakers. This will be like other Terra community farming events, except for two key differences: Each PRISM token earned will be claimable 30 days later in order to ensure a smooth release with no long vesting periods or large unlocks., $yLUNA can be removed at any point with no withdrawal fee penalty., — The PRISM Roadmap - V1 isn’t the only innovation the PRISM team has in store. Looking ahead, there are a multitude of fresh and interesting additions to the protocol that should be watched for, including: Fixed maturities of 1, 3, 6, 9, and 12 months for YBAs like $LUNA where users will be able to choose the period that they would like to sell their yield for — this opens up a world of new opportunity., New PoS collateral types: $DOT, $ATOM, $ETH, and $SOL, mAssets, $aUST, $ANC, $MIR, $MINE, and each of their respective LP tokens, and assets that will be created by many of the new Terra ecosystem protocols soon to launch including money markets, DEXs, and protocols bridging USDC, USDT, and DAI over to Terra., Staking of principal tokens like $pLUNA to exercise proxy voting governance rights., Leveraged exposure to principal tokens and yield tokens, with the ability to borrow and short them., An aim to refract all YBAs such as PoS assets, NFTs, LP tokens and possibly even real-world assets that come on-chain., — $PRISM Tokenomics - Finally, let us now discuss the $PRISM token. As mentioned from a utility standpoint, $PRISM can be staked to get $xPRISM, which affords one with governance voting rights on PRISM and a share of protocol fees. This includes transaction costs, a percentage of the yield $yLUNA holders receive (plus staking rewards and airdrops), swap fees from the AMM and successfully executed limit order fees. Just as with $LUNA, there is a 21-day unstaking period for $PRISM. Providing liquidity for $xPRISM adds additional LP incentives and AMM LP fees on top of that as seen below.Figure 3. Table Representing the Benefits of Staking and Liquidity Provision on PRISM (Source: PRISM Litepaper) In PRISM V2, validators will be required to pledge $xPRISM as collateral if they wish to be considered for $LUNA delegations from the PRISM vault. This will remove slashing risk for PRISM users and align incentives for validators and PRISM protocol. Also coming to V2 will be a veCRV-style vote locking mechanism whereby $PRISM can be locked for periods (min. 1 week, max. 4 years) to increase the users’ voting power and boost their $xPRISM rewards, LP incentives, and airdrops. In this model, the longer one stakes their $PRISM, the more voting power they have and the larger their yield payout will be. — Additional Resources - If you wish to learn more about PRISM Protocol 👇 Check Out Their Public Notion Page Visit Their Website Follow PRISM Protocol on Twitter Project Spotlight — PRISM Protocol was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Formation of the Luna Foundation Guard (LFG)

The first step towards {REDACTED} is complete. We’re pleased to announce the formation of the Luna Foundation Guard (LFG) — a non-profit organization established in the Republic of Singapore dedicated to supporting the advancement of open-source technology, facilitating the growth of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins. The Strive for Decentralized Money If a decentralized economy needs decentralized money, then DeFi requires a scalable, robust, and censorship-resistant form of money at the base layer of its technology stack. Enter stablecoins. Where price-volatile assets predominating the industry have failed to fulfill the currency mandate of cryptocurrencies, stablecoins have established themselves as the preferred medium of interacting with DeFi — with network effects bolstered by pre-existing preferences for units of account in fiat currencies. Stablecoin adoption is exploding. With a ballooning market cap north of $170 billion, the product-market fit of stablecoins as viable Internet-native mediums of value exchange between public blockchains is evident. Stablecoins are significantly more composable, portable, accessible, and cost-effective for counterparties to engage with on the Internet than fiat currencies. However, the rise of stablecoins is handcuffed by the centralization of incumbent issuers whose models are at odds with the underlying ethos of decentralization permeating the industry. Centralized control of stablecoins underpinning a decentralized financial stack induces risks of holding the upper layers of the DeFi stack hostage to the actions of third-party issuers. Liquidity throughout DeFi is tethered to the prevalence of centralized stablecoins, with alternative recourses to the risk at hand with major stablecoins only materializing recently. Terra emerged as a decentralized protocol issuing a suite of fiat-pegged stablecoins that are both scalable and censorship-resistant — removing many of the capital inefficiency constraints of decentralized stablecoin alternatives with its unique algorithmic design. By providing a decentralized issuance mechanism at the base layer of the DeFi stack, Terra’s stablecoins, particularly TerraUSD (UST), have surged into prominence alongside an entourage of other decentralized stablecoins in a thriving cross-chain environment. With a current outstanding market cap of nearly 11 billion, UST is now the leading decentralized stablecoin in the market and 4th overall behind Tether, USDC, and BUSD. For now… Image Credit — The rise of decentralized stablecoins has not come without criticism, however. As they begin to absorb increasingly larger shares of the stablecoin market from centralized issuers such as Tether and Circle, algorithmic stablecoins have come under fire for the robustness of their peg stability, as they are not over-collateralized or backed 1:1 by cash equivalents in a bank account. Tilting at the misconception that algo stablecoin designs are unsustainable has been a core focus of Terraform Labs and the broader Terra ecosystem and LUNAtic community. By concentrating almost explicitly on bootstrapping the demand-side of algorithmic stablecoins, UST weathered a massive, reflexive drawdown in the LUNA price in May — learning important lessons and improving upon its design and adoption strategy. Still, questions persist about the sustainability of algorithmic stablecoin pegs, which is something our community doesn’t hide from and tackles head-on. Manifesting the vision of a decentralized economy based on truly decentralized money is an exacting task. Incremental improvements in mechanism design, education, awareness, and incubating applications that wield algorithmic stablecoins like UST in a meaningful way have proven success in unleashing a new form of money free from the risks of centralized stablecoins. But, it’s a continual process. Terra is not in its end state — it’s only just beginning. In order to succeed, we need to continue supplementing the Terra economy with effective resources across multiple dimensions. These include everything from technical developer tooling to capital backing projects, educational materials helping onboard new users and builders, and innovative mechanisms to support algorithmic stablecoin models amid volatility. Achieving the outcome for Terra that our community evangelizes means penetrating the mainstream — onboarding a global user set and giving them the resources to wield the power of a new, more inclusive financial system. Getting to that point means continually refining, developing, and building an ecosystem around Terra stablecoins that confer credibility in their sustainability and widespread demand. It means building a cross-chain ecosystem of demand for Terra stablecoins that absorbs the short-term volatility of speculative market cycles and creates a new stablecoin era — one where the underlying decentralized ethos of the industry we all share remains steadfast. By focusing on bootstrapping demand via a variety of avenues beyond ephemeral liquidity mining incentives, Terra’s ecosystem has exploded into a vibrant economy of cutting-edge financial applications, payments and savings primitives, NFTs, and much more. Image Credit — A deluge of organizations and projects have formed out of our community’s enterprise to eventually realize the ambitious goals laid forth for Terra. Together, they have propelled Terra to the 2nd largest smart contracts chain by TVL — only behind Ethereum. Now, they have a powerful new ally — the LFG. The formation of the LFG is a culmination of the lessons learned from the previous years in the market. It’s a center of excellence focused on cultivating the tendrils of demand pivotal to the success of Terra stablecoins and solidifying the position of decentralized stablecoins in the market as the superior alternative to incumbents. Defining the LFG Mandate & Structure LFG’s core mandate is to buttress the stability of the UST peg and foster the growth of the Terra ecosystem. Building reserves that backstop the peg of algorithmic stablecoins amid volatility and funneling resources into research that further advances what’s possible with stablecoins are only just the beginning. The LFG will also allocate grants for builders, researchers, community members, and anyone else pursuing bold ideas in the interest of the Terra economy categorized into 3 primary groups: Open-Source Technology Development, Research & Education, Community Growth, Establishing a non-profit organization unlocks a new pathway for the future development of a decentralized economy built on truly decentralized money. The LFG will be overseen and operated by an independent Governing Council, initially comprised of the following leaders and experts in the industry, which will expand to include leading builders in the Terra ecosystem: Do Kwon (Co-Founder and CEO of Terraform Labs), Nicholas Platias (Founding member of Terraform Labs), Kanav Kariya (President of Jump Crypto), Remi Tetot (Co-Founder of RealVision), Jonathan Caras (Project Lead at Levana Protocol), Jose Maria Delgado (Co-Founder of Delphi Digital), The LFG will initially be funded with a 50 million LUNA gift from TFL to help bootstrap its stabilizing reserves and grants framework. The planned execution from the TFL wallet is scheduled for 01/22 at 10 AM SGT (2 AM UTC) and the transaction hash will be shared publicly once complete for transparency. Moving forward, proposals to the LFG for funding will be evaluated on their relevance to LFG’s mission, the technical design of the project, and the overall quality of the team and its members. If you have a great idea for improving or building a decentralized application on Terra, a DeFi project that utilizes algorithmic stablecoins, or if you are otherwise inspired to build something completely different that helps advance the goal of growing a truly decentralized economy, the LFG would love to hear about it! The LFG is currently putting the final touches on its grants framework, which will be released publicly in the coming weeks. For now, if you have any questions or are interested in learning more, please feel free to contact the LFG at the email address below: Are you interested in pushing the boundaries of stablecoin innovation? The LFG is currently seeking to hire highly motivated individuals with deep experience in the industry as it ramps up its grants framework this year. Let’s build decentralized money, together. Finally, the formation of LFG sets the stage for {REDACTED}, which will be announced shortly now that the LFG is ready to kickstart its mission. Stay tuned frens, more to come. Formation of the Luna Foundation Guard (LFG) was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.

Disbursement Summary TDP 1.17.22 (Quarter 1)

Terra Delegation Program - 2022 R1 of the Terra Delegation Program (TDP) has been disbursed. Here are the details. Recap of Qualifications: As a recap, There were only 5 qualifications this round: 1. Have a complete Validator Profile: Example of a perfect pull request Here. Example of a perfect finished profile Here. 2. Commission at or below 10%: at all snapshots. 3. Bombay Testnet must be active: at all snapshots. 4. Provide Seed Node Address: for Testnet and Mainnet (Process explained below) 5. You must have applied through the link below by 11.10.21 9 PM KST: If you have previously applied. You must apply again. What is the snapshot? Once a week I will be taking a snapshot, and then publishing the results. They will not be announced to prevent gaming the system. They will be public so you can track your progress. Links will be posted publicly on Twitter when snapshots are complete. Delegations will be weighted for decentralization. This means the TFL fund will weigh distributions to flatten the voting curve. We will not make a delegation to validators outside the active set. Delegation Execution: Validators that qualified on 1.17.22 based on these criteria are listed here. This snapshot was executed 1.18.22 with a redelegate subkey to prevent any security risk to the Terra wallet. At this time the redelegate function has been determined to be the safest and most efficient way to administer the program. This process was done by terravaloper addresses, and does not represent any endorsement or disapproval based on luna moved between validators. It is an administrative movement. Final delegation size was averaged for voting power without TDP, and then brought to that average. So that all validators who qualify end up with roughly the same size of the total voting power. With 57m Luna allocated to the program, and 57 qualifiers a threshold of 1,180,474 Luna was determined to be the maximum voting size the TDP could reach per validator. With 57 validators qualifying this is our largest recipient group yet, up 6 validators from previous round. All delegations are ultimately at the discretion of Terraform Labs. We are hiring Developers, contact Jared, or apply here! Disbursement Summary TDP 1.17.22 (Quarter 1) was originally published in Terra on Medium, where people are continuing the conversation by highlighting and responding to this story.


Tornado in the Coal Mine — How Globalists Plan to Penalize Privacy...

    No privacy. No property. No prosperity. If you follow the news, you've seen the trend - putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing individual financial privacy and 'private' cryptocurrencies and protocols. You've likely experienced the dystopian push in your own life, as banks and financial institutions demand more and more sensitive, personal information, and freeze your hard-earned money while telling you to prove you are not a criminal or terrorist before you may access it. World Economic Frustration What is a 'canary in a coal mine'? The Free Dictionary defines it as 'Something or someone who … acts as an indicator and early warning of possible adverse conditions or danger.' The saying hearkens back to the 'practice of taking caged canaries into coal mines. The birds would die if methane gas became present and thereby alert miners to the danger.' With the recent Office of Foreign Asset Control (OFAC) ban on crypto mixing platform Tornado Cash, some in the cryptocurrency space have been accurately describing a specter of a dark world that is to come, and that is already massively here. That is, if individuals globally do not start to speak out and stand up now against economic tyranny. One ethereum advocate has observed: Today... read More

Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft's Oil E...

    Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer's wells in Russia.Crypto Mining Operator Bitriver to Cooperate With Russian Oil Giant Gazprom Neft Russia's third largest oil producer, Gazprom Neft, will power data centers operated by the country's leading crypto mining company, Bitriver. The electricity needed for the production of digital currencies will be generated using associated petroleum gas, a form of natural gas found with oil deposits. The arrangement is part of a memorandum of cooperation signed by the two companies during the St. Petersburg International Economic Forum, RBC Crypto reported, quoting a Bitriver representative. The announcement comes after the Russian mining operator was recently placed under U.S. sanctions. In accordance with the agreement, the mining firm will develop the digital infrastructure at Gazprom Neft's oil fields and provide services relying on computing hardware, the report details. Gazprom Neft's business model does not encompass digital currencies but the oil giant is seeking solutions that would allow the 'beneficial use' of the associated gas obtained during oil extraction. The infrastructure necessary to utilize the associated gas for the energy-intensive mining of crypto assets has been built already at Gazprom Neft enterprise... read More

Uzbekistan Enables Companies to Mine Bitcoin Using Solar Energy (Report)

    The government of Uzbekistan will reportedly allow local firms to mine digital assets using solar energy. It will also exempt all crypto mining operators from paying income tax. Uzbekistan Urges for Using Solar Energy The Central Asian country does not stand as a crypto-friendly destination. At the end of 2019, the authorities prohibited residents from purchasing digital assets while selling remained legal. Nearly a year ago, the former Soviet republic contemplated a U-turn and lifting some of its restrictions. The government intended to allow Uzbeks to conduct “all types of crypto operations involving crypto assets and tokens in exchange for both domestic and foreign currency.” However, according to current laws, Uzbeks are still prohibited from buying bitcoin or altcoins, while the legislation does not apply to foreigners. A recent coverage by Reuters revealed that the government has now turned its focus toward the digital asset mining industry. The authorities have proposed that Uzbek miners should start powering their supercomputers with solar panels. Those who do so will pay less for electricity, while businesses connected to the power grid will pay double the regular price. Local crypto miners do not have to obtain a special license to function, but they should be registered with the newly formed Uzbek National Agency for Perspective Projects. Binance Finds Uzbekistan Attractive The growth of the crypto sector in the Central Asian nation over the past few ye... read More

Russia Could Mine Bitcoin and Other Cryptocurrencies to Evade Sanctions,...

    Russia could use cryptocurrency mining to evade sanctions, according to the IMF. The IMF warned in its new report that sanctioned countries like Russia could use cryptocurrencies and significantly boost their mining industry to evade any economic sanctions imposed on them. The International Monetary Fund (IMF) indicated in its report on global financial stability that Russia could be planning to use cryptocurrency mining to circumvent economic sanctions imposed by the United States and the European Union in the wake of its war against Ukraine. Today's key takeaway from #IMFMeetings: the IMF downgraded its global growth outlook, reflecting the impact of the war in Ukraine, the risks posed by inflation, and more. Read our recap of the day here: — IMF (@IMFNews) April 20, 2022 According to the IMF, Russia could rely on many tools to move money outside the traditional financial system. One prominent example could be the use of non-compliant cryptocurrency exchanges along with anonymity-enhancing platforms, such as DEX or mixers. In addition, the IMF stressed the use of privacy cryptocurrencies such as Monero (XMR), which could help avoid tracking transactions, making it easier for the Russian government to alleviate the effect of the financial block. Russia could use mining to evade sanctions. Russia is the most sanctioned country in the world —even more than North Korea— with over 400 different measures taken ... read More

Tesla, Blockstream, and Block Team Up to Mine Bitcoin in Texas

    Block, formerly named Square, and Blockstream team up to mine bitcoin off Tesla-supported solar power in Texas, as reported by CNBC. Bitcoin mining is seen as an activity that incentivizes the monetization of renewable power production. Tesla's 3.8 megawatts solar PV array, along with 12 megawatt-hours Megapack, will power the bitcoin mining facility located in Western Texas. Block stated that '100% solar-powered bitcoin mining project with Blockstream, using solar and storage technology from Tesla, we aim to further accelerate bitcoin's synergy with renewables.' Adam Back, the CEO of Blockstream, told CNBC during Bitcoin 2022 Conference that the company will install a dashboard capable of putting power performance data along with the number of total bitcoin mined on display. This is to prove that 'bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future.' Miners - like energy buyers who create a financial incentive for improving the core economics of renewable power production - provide demand for vast renewable energy sources available in Texas. This is an economically feasible way of renewables allocation, claimed by Castle Island Venture's Nic Carter. If the project has proven profitable in its pilot stage, said Back, the companies involved would add wind power as another source of energy to power the mining and scale the entire project. This would reduce overall costs and help counteract the impact of solar during the downtime... read More

Malaysia Detains Over 600 People for Stealing Electricity to Mine Crypto...

    In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country's police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining Since 2020, Malaysian authorities have detained a total of 627 people involved in crypto mining activities using stolen electrical power, the country's Bernama news agency revealed. During the same period, law enforcement officials also seized mining hardware worth 69.8 million Malaysian ringgit ($16.6 million), according to the report. In a quoted statement, Inspector-General of Police Tan Sri Acryl Sani Abdullah Sani noted that the arrests were made as a result of joint efforts with representatives of Malaysia's Tenaga Nasional Berhad (TNB) electric utility company and the Criminal Investigation Department (JSJ). As part of the cooperation, the Royal Malaysia Police (PDRM) received nine four-wheel-drive vehicles from the TNB to be used by the JSJ in combating electricity theft across the country. The trucks were handed over to the PDRM by Datuk Baharin Din, TNB's chief executive officer. 'Royal Malaysia Police expresses its highest appreciation to TNB for its contribution,' Acryl Sani stated while declining to provide further details on the operations against the miners. He called on the Malaysian public to be aware of such activities and report to the police... read More

Exxon Plans Using Excess Natural Gas to Mine Bitcoin

    Exxon Mobil – a major multinational oil and gas corporation – is considering leveraging Bitcoin mining to make an even greater profit from excess oil production. The company may take its gas-to-Bitcoin pilot to multiple countries, after already using 18 million cubic feet of gas per month for this purpose. A Clever Use for Bitcoin Mining As reported by Bloomberg, Exxon is currently burning excess natural gas from North Dakota oil wells that would otherwise be burned off or flared, due to a pipeline shortage. The company takes gas from an oil pad in Bakken shale basin to power on-site Bitcoin miners as part of an agreement with Crusoe Energy Systems. The project launched back in January of 2021 and was expanded further in July of that year. Now, America’s largest oil producer is planning to expand operations to Alaska, Nigeria, Argentina, Guyana, and Germany. This is according to sources that chose to remain private, as the information isn’t supposed to be public yet. “We continuously evaluate emerging technologies aimed at reducing flaring volumes across our operations,” said Exxon spokeswoman Sarah Nordin. However, she refused to comment on rumors about the pilot project. Bitcoin mining has grown into a full-blown industry built around Bitcoin’s proof of work mechanism. The mechanism requires that users race to solve a highly difficult mathematical problem by spending a tremendous amount of computational energy. The first to solve a ... read More

How To Easily Mine Cryptocurrency for Beginners

    You may have heard that it is possible to mine cryptocurrencies. Mining is a process of offering resources to a cryptocurrency network in exchange for a reward. Each network requires different types of resources and can offer different rewards based on network rules. For example, Bitcoin and Ethereum networks use computational resources from miners. This effort requires very powerful energy intensive graphic processors (GPU) to compete for recurring rewards. Other mining projects such as PKT Cash can be mined using bandwidth and a computer processor (CPU), such as a computer, server or mobile phone. While mining requires some technological understanding, it is not as complex as it may seem. Here are the steps to mine cryptocurrency so even as a beginner, you can quickly get started and begin earning. Invest in a Cryptocurrency Mining Setup In order to competitively mine cryptocurrency, you will need a powerful computer. Different cryptocurrencies require different equipment to be successful. In general, the more powerful the equipment, the higher the yields. Therefore, the first step is to invest into the best valued equipment for competitive mining. Bitcoin and Ethereum require powerful GPU equipment to be profitable. There are a lot of resources available to determine the best equipment for mining Bitcoin and Ethereum, such as hardware providers like Bitmain and Canaan. If you are operating powerful GPU or CPU mining equipment, it is important to invest in heat and noise co... read More

Report: Intel Reveals 'Bonanza Mine BMZ1' Blockchain Acceler...

    Last week the California-based technology company Intel explained its intentions to develop crypto mining semiconductors that would showcase '1000x better performance per watt.' Now Intel has revealed more details about the 'Bonanza Mine' (BMZ1) blockchain accelerator chip at this year's International Solid-State Circuits Conference (ISSCC).Intel's Bonanza Mine Crypto Chip Products Introduced at ISSCC Information concerning Intel's new crypto mining accelerator chip has been revealed to the public, according to various reports covering 2022's ISSCC event. On February 12, News reported on Intel's intentions to craft blockchain accelerator chips as Intel executive Raja M. Koduri described Intel's goals. Intel's presentations at ISSCC revealed the 'Bonanza Mine' (BMZ1) accelerator, but Tom's Hardware author Paul Alcorn explained that Intel is already working on a second-generation 'Bonanza Mine ASIC, known as the BMZ2.' Alcorn's research notes that Intel described how it combined 300 chips into a 'powerful 3,600W miner that delivers up to 40 [terahash per second (TH/s)] of performance.' The BMZ1 leverages a 7 nanometer (nm) process and the size is an approximate '7 x 7.5mm exposed-die FCLGA package.' Alcorn says that while the BMZ1 is a 7nm process, it doesn't give many details on the process node. 'Each chip die measures 4.14 x 3.42mm, for a total of 14.16mm^2 of silicon, so these are comparatively small slivers of silicon,' the report published by Tom's Hardware ex... read More

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