HomeNewsTerra Luna Ignites Web3 Transformation: Massive Partnerships and Updates Turbocharge the Billion-Dollar...

Terra Luna Ignites Web3 Transformation: Massive Partnerships and Updates Turbocharge the Billion-Dollar Market

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    • Terra’s new Alliance module and Enterprise’s DAO management platform were launched in April 2023.
    • Various updates and improvements were made across Terra’s ecosystem, including the integration of Alliance module, DAO management solutions, NFT staking, on-and-off-ramp integration, and automated arbitrage vaults among others.

New Features and Updates in the Terra Ecosystem

The Terra community continued to power through adversity in April, introducing several noteworthy features and enhancements. The launch of Terra’s innovative Alliance module and Enterprise’s intuitive DAO management platform stood out among many significant updates.

Alliance Module Unveiled

Terraform Labs (TFL) launched Alliance, a groundbreaking open-source financial instrument enabling Cosmos blockchains to trade yield. By accommodating multiple tokens to be staked on a single chain for native staking rewards, Alliance paves the way for diversified use cases, thereby bolstering decentralized economies. This move broadens the scope of attracting users, liquidity, and developers, while also encouraging native application development and diversifying staking yield.

Further, the application of Terra’s Alliance module marked an industry-first achievement, facilitated by Migaloo. This advancement allowed users to stake bLUNA on Migaloo, thereby receiving native WHALE staking rewards and enhancing the native WHALE staking yield.

No-Code DAO Management Platform Introduced

Enterprise launched a no-code solution for managing Decentralized Autonomous Organizations (DAOs). This platform allows for the creation of multi-sig wallets, the management of DAO governance, and the unification of vibrant NFT and token communities, all within a single versatile interface.

This platform has already demonstrated its potential, with @TheLionDAO generating over 50,000 transactions on the Terra blockchain in a month. This achievement exemplifies the ease with which DAOs can be created and scaled using the Enterprise platform. Skeleton Punks also unveiled NFT staking on Enterprise, granting Skeleton Punks NFT holders the ability to stake their NFTs, partake in governance, and earn a percentage of bLUNA fees from Backbone Labs’ Gravedigger.

Ecosystem-wide Developments

Several other advancements in the Terra ecosystem were witnessed, including the launch of automated arbitrage vaults for LUNA LSDs by Eris Protocol, the integration of Kado’s on- and off-ramp for Station users, and the introduction of a dedicated forum on Terra Discord for Station, Alliance, and Feather, fostering community dialogue, learning, and ideation. The Eris Protocol also unveiled a UI to facilitate Alliance staking on Migaloo.

Backbone Labs introduced their new NFT marketplace, Necropolis, providing zero platform fees for the initial 60 days. Meanwhile, IBC, the communication protocol currently connecting Cosmos blockchains like Terra and others, announced its expansion plans to other crypto ecosystems.

Governance Updates:

The Terra community showed overwhelming support in voting for Prop 4717 to upgrade Terra Core to v2.3.1, incorporating the Alliance module and other upgrades.

Integration & Listings Updates:

Migaloo, Carbon, and Kujira integrated the Alliance module, leading to possible opportunities for ecosystem expansion and collaboration.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: [email protected] Phone: +49 160 92211628