LUNA was trading at $0.66 on January 1st, 2021.
Just a few days ago, it reached ~$103 ATH.
What’s the secret behind its parabolic growth?
Here's 1 year of @terra_money evolution in one thread: 👇
Just a few days ago, it reached ~$103 ATH.
What’s the secret behind its parabolic growth?
Here's 1 year of @terra_money evolution in one thread: 👇
Terra had one motto from very the beginning:
To create scalable, programmable money for the new financial world.
That's why it wasn't only about enabling decentralized stables like UST...
But to give use cases for them, too.
Curious fact:
To create scalable, programmable money for the new financial world.
That's why it wasn't only about enabling decentralized stables like UST...
But to give use cases for them, too.
Curious fact:
At the start of 2021, there were only a handful of apps and use cases on Terra:
- Mirror Protocol: trade synthetic assets
- Chai: a payment solution in South Korea
- TerraStation wallet
- Terra Swap
- Terra Mobile wallet
Until...
- Mirror Protocol: trade synthetic assets
- Chai: a payment solution in South Korea
- TerraStation wallet
- Terra Swap
- Terra Mobile wallet
Until...
Terra dropped a bombshell when it introduced @anchor_protocol in March.
Its stable ~20% rate was something never heard of in the DeFi space.
Users could deposit a stablecoin and receive an 18-20% yield with no questions asked.
Plus:
Its stable ~20% rate was something never heard of in the DeFi space.
Users could deposit a stablecoin and receive an 18-20% yield with no questions asked.
Plus:
Anchor users could also deposit bLuna and borrow UST against it.
On top of that:
Anchor actually paid incentives for borrowing against bLuna.
That again was a terrific value prop.
Yet, something unexpected would soon shake the whole crypto world:
On top of that:
Anchor actually paid incentives for borrowing against bLuna.
That again was a terrific value prop.
Yet, something unexpected would soon shake the whole crypto world:
On March 16th, the big crash came:
The whole crypto market plumbed.
$LUNA included too.
Luna fell from its ATH of $22 to $4 in a matter of days.
UST de-pegged and went to 0.95$ for a short time too.
These were dark days...
But:
The whole crypto market plumbed.
$LUNA included too.
Luna fell from its ATH of $22 to $4 in a matter of days.
UST de-pegged and went to 0.95$ for a short time too.
These were dark days...
But:
Terraform Labs stepped in and took action so that something like this never happened again.
Anchor functionality got enhanced and the borrowing rate decreased to 45%, among other measures.
Terra got over the crisis and learned a couple of lessons along the way.
Anchor functionality got enhanced and the borrowing rate decreased to 45%, among other measures.
Terra got over the crisis and learned a couple of lessons along the way.
Around mid-June, @pylon_protocol launched on Terra.
It used Anchor in the background and brought lossless investments to the table.
Also, the market started to recover towards the end of June.
$LUNA showed an incredible run from its sub 4$ to 32$ in a matter of weeks.
It used Anchor in the background and brought lossless investments to the table.
Also, the market started to recover towards the end of June.
$LUNA showed an incredible run from its sub 4$ to 32$ in a matter of weeks.
At the same time, Mirror V2 went live.
It brought new strategies and possibilities to those trading synthetic assets.
Starting August 13th, $ETH could be used as collateral in Anchor.
Its TVL started to gradually increase towards 5B.
Shortly after, the Big news came:
It brought new strategies and possibilities to those trading synthetic assets.
Starting August 13th, $ETH could be used as collateral in Anchor.
Its TVL started to gradually increase towards 5B.
Shortly after, the Big news came:
The Columbus-5 update saw life in September.
It enabled $UST expansion towards Cosmos-connected chains.
Col-5 also brought an updated seigniorage mechanism.
From now on, swap fees from the UST-Luna swap were permanently burnt.
It enabled $UST expansion towards Cosmos-connected chains.
Col-5 also brought an updated seigniorage mechanism.
From now on, swap fees from the UST-Luna swap were permanently burnt.
Soon after Col-5, Wormhole came to life.
It helped #LUNAtics to reach Solana and Polygon with minimal fees.
In the meantime, we saw tons of NFT projects coming to Terra:
@spaceloot_nft...
@galactic_punks...
@LunaBulls...
And many others brought extra excitement!
It helped #LUNAtics to reach Solana and Polygon with minimal fees.
In the meantime, we saw tons of NFT projects coming to Terra:
@spaceloot_nft...
@galactic_punks...
@LunaBulls...
And many others brought extra excitement!
Defi protocols were also on the rise:
- @orion_money
- @ApolloDAO
- @staderlabs
- @Levana_protocol
- @NexusProtocol
- @TeamKujira
And many others expanded possibilities on Terra.
At that point, the ecosystem was completely different from the months before.
- @orion_money
- @ApolloDAO
- @staderlabs
- @Levana_protocol
- @NexusProtocol
- @TeamKujira
And many others expanded possibilities on Terra.
At that point, the ecosystem was completely different from the months before.
Certainly, Terra was a rising Giant waking up:
@StarTerra_io came in as a Launchpad.
Play-to-earn games like @DerbyStars_HQ and @DeviantsNFT factions joined the fam.
@leap__terra and @xdefi_wallet came too.
Meanwhile, @UST became available on all significant chains.
@StarTerra_io came in as a Launchpad.
Play-to-earn games like @DerbyStars_HQ and @DeviantsNFT factions joined the fam.
@leap__terra and @xdefi_wallet came too.
Meanwhile, @UST became available on all significant chains.
More and more space travelers were getting interested in the ecosystem.
At that point, weekly Airdrops changed from just ANC and MIR...
To $ANC, $MIR, $VKR, $ORION, and $MINE.
Almost all new protocols on Terra give airdrops to $LUNA stakers, even some Cosmos protocols!
At that point, weekly Airdrops changed from just ANC and MIR...
To $ANC, $MIR, $VKR, $ORION, and $MINE.
Almost all new protocols on Terra give airdrops to $LUNA stakers, even some Cosmos protocols!
By December, native $UST was coming to many centralized exchanges.
@binance, @HuobiGlobal, and @kucoincom included.
In early December, $UST overtook $DAI to become the 4th stable coin on the market.
By the end of December, the $UST market cap reached 10 billion.
@binance, @HuobiGlobal, and @kucoincom included.
In early December, $UST overtook $DAI to become the 4th stable coin on the market.
By the end of December, the $UST market cap reached 10 billion.
So what's next?
More and more people are looking for real, decentralized solutions.
Meanwhile, $LUNA captures value while $UST expands more and more.
At Stader, we are honored to be part of this journey.
Wishing the whole #LUNAtic fam Happy New Year!
More and more people are looking for real, decentralized solutions.
Meanwhile, $LUNA captures value while $UST expands more and more.
At Stader, we are honored to be part of this journey.
Wishing the whole #LUNAtic fam Happy New Year!
Loading suggestions...