This Terra Weekly recap is solely for informational purposes and does not constitute investment advice. During the past week, $LUNA fluctuated in the price range of $2.06-$2.46. On-chain metrics still maintain positive growth and more projects start to deploy mainnet. Let’s take a look at some important information on Terra last week with Coincu Ventures.
NETWORK GROWTH
Total Value Locked
The total value locked has increased over the past week. The TVL of the current ecosystem is around $25.25 million, a strong growth rate of up to 98.03% from last week. Currently, on Ecosystem, there are six active dapps. In which, the insurance protocol – Risk Harbor brings ecosystem about $11.9 million (44% of the total TVL of the entire ecosystem).
Validator / Node
There are 181 Validators in total, down approximately 3.2% from last week. The validators with the highest power voting currently are Smart Stake with 3.56%, Orbital with 3.48% and Kucoin with 2.022%.
Unique Addresses
There are currently around 665.80K unique addresses. In, the number of new addresses created this week is 3.48K addresses, down approximately 42.76%. The rate at which new addresses are created on the ecosystem has started to slow down.
Active addresses
Terra chain addresses were active from Jul 4th to 10th, with around 2.35K active addresses per day, an approximate decrease of about 23.7% from the number of active addresses per day of week 26.
% staking on network
The amount of Terra being staked on the system is about 546.88M $LUNA. With a total supply of 1B $LUNA. The current staking percentage on the system is around 54.8%, a slight increase compared to last week. This is a good sign for new ecosystems like Terra. When the supply is heavily staked in the system. Showing users’ trust in the system, and at the same time limiting the supply in the market, helping the $LUNA price to be more stable.
HIGHLIGHT EVENTS
Reduced validator minimum commission update (5% instead of 10%) on Terra 2.0
Currently, costs to run a Validator node can run high when you also include the human resources necessary to maintain optimal performance and court delegations. To cover their costs, Terra validators are able to charge a commission rate on the staking rewards they earn for their delegators. However, there is currently no minimum commission rate set. Therefore, delegators are incentivized to seek the lowest commission rate possible in order to extract the most value from their staking rewards. For validators, attracting delegations thus becomes a race to the bottom as validators are forced to lower their commission rate in order to compete.
Jul 1, 2022, the Terra core team proposes that they will set the minimum commission rate for validators to 5% or 10% in order to ensure all validators are adequately compensated for the service they provide to the Terra network.
Unfortunately, the proposal was rejected
More information: Click here
DeFi Lego
Aggregator
Coinhall is now live on JunoNetwork
Coinhall announced that they are now live on JunoNetwork. Users can now view price charts & analytics for CW-20 assets on JUNO at http://coinhall.org.
JUNO is an open-sourced sovereign blockchain built on the Cosmos SDK.
Juno implementation on Coinhall. Showing their clear intention is to go with the IBC protocol and implement all IBC-connected chains on Cosmos onto their protocol.
More information: click here
Yield Optimizer
Stader will shut down on Terra Classic.
After 2 PM UTC on 28th August 2022, Stader will shut down its dapp & withdraw all services on Terra Classic including Staking, Liquidity Staking.
If you have your $LUNC staked on any one or all of these products. You must withdraw them now.
More information: click here
LaunchPad
Wicca Money live Token launchpad testnet
Token launchpad testnet will be live on 8 July 07:00 UTC. Anyone can raise funds and launch their token on Terra 2.0
you can try it here
Verdict
Above is the important information in the past week about the Terra ecosystem. Mainnet projects on Terra begin to increase. Because the system is rebuilt and the number of projects is small, it is not possible to make a long-term assessment of the system’s development history. However, the on-chain indicators on the system have been very positive in recent weeks which is a good sign.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
Find more information about Terra
Website: https://www.terra.money/
Whitepaper: https://docs.terra.money/
Twitter: https://twitter.com/terra_money
Telegram: https://t.me/terra_announcements
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Ken. N
Coincu Ventures
