This Terra Weekly Recap is provided solely for informational purposes and does not constitute investment advice. Last week, the market had many fluctuations at the end of the week, especially $LUNA, due to the general influence. The price of $LUNA sometimes dropped to nearly 20% but recovered after that, but the market’s correction of the market did not affect much. to TVL because the need to use $UST does not change. Let’s take a look at some important ecosystem updates over the past week.
Network Growth
Daily Transactions
This week’s total number of transactions is 3,560,412, down 19% from last week. On average, 508,630 transactions are happening every day.
Unique Addresses
There were a total of 3,991,823 addresses in the Terra ecosystem this week. The number of newly-created addresses was 37,000, an increase of 1.66% compared to the previous week.
Active Addresses
This week the ecosystem has 656,482 active wallets; the number of active wallets decreased by 26.61% compared to last week. On average, there are 93,783 active wallets per day.
Total Value Locked
Last week, Total Value Locked of Terra ecosystem reached $20.52b and decreased 2% compared to last week. In which, Total Value Locked of DEX decreased by ~10% compared to last week and contributed $2b to the Total Value Locked system this week. However, the Lending Array with TVL reached $16.4b, up ~3% from last week.
Highlight Events
Outlier Ventures becomes a partner with Terraform Labs
Terra has partnered with the investment fund Outlier Venture to launch the Terra Base Camp Accelerator program soon. This program will attract developers to the Terra ecosystem. The purpose of the program is aimed at building Web3 projects on Terra to increase the demand for using UST in the future.
DEX, lending Terra puzzle pieces have been completed. So this move of Terra makes perfect sense. When implementing Defi’s higher layers like Derivative, Game, NFT, Web3, and Cross-chain projects. I believe that there will be many projects in the above fields born on the Terra ecosystem in the near future.
BlockVision support Terra for fast node service
Block vision collaborates with Terra to deliver more robust and advanced node services for the current Terra node topology. Running and maintaining nodes is time-consuming and expensive, and bottlenecks are prevalent when using Web3 applications. Slow transaction confirmation and expensive gas prices are the results.
Its partnership with Blockvision further confirms terra’s planned goal of producing Web3 applications to upgrade network nodes.
For more information: Click here
Fireblocks adds support for Terra as it sees ‘record breaking’ institutional demand
Fireblocks now supports Terra apps on their platform. This is a big turning point to help Terra connect with major financial institutions in the world. Currently, Fireblocks has more than 100 different financial institutions. Within 72 hours of being connected. Fireblocks says its customers have deployed over $250M to the protocols built on Terra.
Terra is rolling out developments like Avalanche, which are geared toward funding sources outside of the Crypto market. In the near future, it is possible that it will connect with external payment parties such as Visa and Mastercard to attract external capital and expand usage demand for UST.
For more information: Click here
Terra money is proposing a partnership with Evmos
Terra will collaborate with Evmos, EVM on Cosmos. This partnership will help developers on Ethereum have access to the Terra ecosystem. Most other projects, when strongly developed, build their own EVM. Terra is not. Perhaps this is the main reason Terra wants to use EVM on Cosmos itself, which is Evmos to make her EVM. Therefore, as soon as Evmos went live, Terra immediately cooperated.
Using Evmos saves time building an EVM from scratch for Terra. However, Benefits will be fragmented as Evmos is Cosmos’ generic EVM, not just Terra’s.
For more information: Click here
Spotlight Projects
Top 10 Losers of Terra Ecosystem
Increase Oracle Timeout on Anchor
Due to the influence of the increase in the price of collaterals producing frequent price too old errors, it was proposed to increase oracle waiting time from the 60s to the 90s.
For more information: Click here
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
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
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
