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…
Tag: Cover
Binance To Compensate Cover Hack Victims With $10 Million SAFU Fund
Leading cryptocurrency exchange, Binance has announced a compensation plan for the COVER hack victims on its platform. This is a remarkable gesture from the exchange towards its customers that lost their tokens in the hack. $10 million to be distributed from Binance SAFU Fund Binance revealed more about the compensation plan in an extensive blog post on its website. According to the exchange, the decision to compensate affected customers was taken after a COVER team meeting. The embattled Defi platform informed…
1 year ago 
199
views
Yearn Finance (YFI) Platform Partners With DeFi Protocol Cover
Less than 24 hours after news broke, that decentralized finance (DeFi) platform Yearn Finance (YFI) had partnered with Cream Finance protocol. It has announced a new merger with DeFi protocol Cover. In a blog post published on Nov 28. Yearn founder Andre Cronje revealed the merger between the two DeFi protocols. He further stated that the merger was a natural one since Yearn developers worked with Cover protocol developers since its inception. Cover will provide backstop coverage for Yearn DeFi…
1 year ago 219
views