Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
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Bitrue to list both stablecoin Terra and mining token Luna as the first step of the partnership
SINGAPORE – August 12 – Cryptocurrency exchange Bitrue announces today a partnership with Terra, the project behind the next-generation blockchain payments solution, to list both mining token Luna (LUNA) and stablecoin Terra SDT (SDT). This listing is part of a larger collaboration between Bitrue and Terra to offer a wide range of decentralized financial services.
Starting today at 3:00 am UTC, Bitrue will start accepting deposits for both Luna and Terra SDT. Luna will be tradable starting August 14 at 3:00 am UTC on Bitrue’s BTC and XRP markets. Terra SDT will start on August 16 at 3:00 am UTC on Bitrue’s USDT market.
Today’s announcement marks the beginning of a larger partnership between Bitrue and Terra. Both companies share a common goal of offering decentralized financial services, with a joint-interest in developing high-yield savings and loan programs utilizing stablecoin Terra.
“Bitrue is always looking for outstanding projects to cooperate with, which is why we’re so happy to kick off a promising relationship with Terra. This represents the first of many planned collaborations that we hope will bring value to our users and the wider crypto space,” said Curis Wang, CEO of Bitrue. “Our goal is to find ways to connect the business activities of traditional financial markets with the innovations and improvements that cryptocurrencies bring, and we believe Terra to be one of the few companies who share the vision and creativity required to make this a reality.”
“Terra has partnered with a mobile payments app called CHAI, and as a result, we’ve been witnessing unprecedented mass adoption of Terra’s blockchain. Hundreds of thousands of consumers are using CHAI and Terra to buy everyday goods and services, and growth in transaction volume translates to more fees for Luna holders and growth in Terra’s economy,” said Daniel Shin, Co-Founder of Terra. “Moreover, our validators just launched a new project that gives out 21.7 million Luna as additional staking rewards, which translates to a 10% Luna staking yield. We are excited to partner with Bitrue at a time of significant growth, and look forward to future offerings such as crypto-backed loans.”
Terra aims to become the first widely used stablecoin by pushing adoption through its formidable eCommerce alliance across Asia, which includes unicorns in Asia such as TMON (eCommerce, Korea), Baemin (Food Delivery, Korea), and Carousell (C2C platform, Singapore). In June 2019, Terra announced a groundbreaking partnership with South Korea’s mobile payments app CHAI, offering its blockchain technology to power transactions. CHAI has witnessed unprecedented adoption, gaining over 240,000 users in its first 40 days, and it is enabling thousands of consumers to pay with Terra’s blockchain technology every day.
To celebrate the listing on Bitrue, Terra is giving out $60,000 worth of tokens. Details of the events and how to participate can be found on Bitrue’s blog: https://bit.ly/2KB7Cqa.
Terra has designed a price-stable digital currency that powers the next-generation payment network on the blockchain. Terra collaborates with an ever-growing alliance of global e-commerce platforms to bring blockchain’s benefits, such as low transaction costs to merchants and everyday consumers. By bridging the gap between digital currencies and real-world applications, Terra aims to evolve into an open platform for innovative financial dApps and grow the real GDP of the blockchain economy. Founded by a business, finance, and blockchain experts team, Terra has offices in Singapore and Korea. For more information, go to https://terra.money/.
Bitrue is a forward-thinking cryptocurrency exchange platform dedicated to providing the most trustworthy digital asset management services in a simple, efficient, and secure manner. Launched in July 2018, Bitrue offers worldwide services to cryptocurrency investors with offices across the globe. Bitrue has become one of the top exchanges within the XRP community, supporting over 50 XRP pairs, and has gained significant traction in the US, UK, and European markets. Bitrue is backed by strong communities and is quickly becoming the one-stop platform for crypto traders worldwide with its latest addition of fiat purchases. More information can be found at https://www.bitrue.com.
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