Categories: Blockchain

Terraform Labs Launches Terra Ecosystem Grants

The Terraform Labs team is ecstatic to announce the launch of a series of grants which will bring improvements in the ecosystem tools and products and along with that, provide an overall better environment for Terra community members. The team has decided to begin with the Grant Program by rolling out four Request For Proposal (RFP) along with an open community suggestion form. 

The first two RFPs are related to a new type of staking product, which is called ‘Anchor,’ which requires a new imitative token and a lending pool. Since Luna is volatile in nature and its price keeps fluctuating, the users are not staking in Luna even after getting high returns from it.  

To combat this issue, Terraform Labs are ideating to design a solution where the initial deposit principal is safeguarded.

To achieve this, the Terra team is looking for partners that are capable of understanding and executing the bLuna token and the fungible money market.

The third RFP is for reducing the time to resync a node while data corruption through the utilization of data backup service

The next RFP is concerned with reducing the time to resync a node in the event of data corruption through the utilization of a data backup service.

Terraform Labs is looking for a vigorous, distributed availability layer for providing access to Terra blockchain handled by the Terra community. Terra community focuses on providing users with Terra blockchain that helps them to think with use case perspective rather than focusing on infrastructure.

The suggestions provided by Terra community members in our Discord server or Twitter community often help the Terra team with intuitive advice. The Terra team is of the belief that in order to encourage the use case, the community should focus at the forefront. Thus, the Terra team is providing an open RFP, which enables the community members to provide suggestions to the team.

Terra is a blockchain payment network, that upgraded from the traditional payments system with a single layer of blockchain. It is powered by a network of stablecoins, which are price-stable digital currencies pegged to major currencies in the world. The stablecoins are backed by Luna, which is a staking token that powers Terra’s Delegated Proof-of-Stake blockchain.

Ruchi Brahmbhatt

Ruchi is an Independent Artist and a Graduate in English Literature with substantial experience as an IELTS coach. Being young and energetic, emerging technologies attract her to the core- blockchain and crypto being the most recent ones. She has also been a regular contributor of news pieces and insightful articles related to these innovative arenas. Ruchi’s other interests include human rights, art and architecture, technology, health, and social networking.

Recent Posts

Bondly and SpiderDAO Partner to Secure Transactions

SpiderDAO, the world’s first hardware that built Decentralised Autonomous Organisation (DAO) on Polkat, took to…

1 day ago

BitMEX To Prevent Illicit Transactions With Chainanalysis

BitMEX announced their decision to strengthen their existing long-term partnership with Chainanalysis by integrating their…

1 day ago

IFEX International Financial Virtual Expo to Be Held on February 10–11

AFAQ Group, MENA region's renowned exhibitions organizer, has announced the launch of the International Financial…

1 day ago

TosDis to Hold its Public Sale on Polkastarter

Initial Dex Offering from the house of TosDis is scheduled on 18th January 2021. The…

2 days ago

IBC Protocol Finally Released on the Cosmos Network

The highly anticipated IBC (Inter Blockchain Communication) protocol is now live on the Cosmos network…

2 days ago

Insured Finance and GAINS to Power Digital Insurance Space

Insured Finance, an upcoming insurance marketplace based on blockchain-based technology, has now announced a partnership…

4 days ago