HomeNewsTerra's Ecosystem Shakes Up with Exciting Updates: Prism Alliance, Cosmos-First NFTs, and...

Terra’s Ecosystem Shakes Up with Exciting Updates: Prism Alliance, Cosmos-First NFTs, and Neptune’s Money Market Beta

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  • The Terra ecosystem saw significant progression during May, marked by announcements such as Prism’s plan to form an alliance with LUNA, and Carbon whitelisting ampLUNA and stLUNA as Alliance assets.
  • From new product unveilings to key governance updates and integrations, the community has witnessed a flurry of developments throughout this vibrant month.

Throughout May, the Terra community was enriched by a multitude of positive advancements. Ranging from the declaration by Prism to forge an Alliance with LUNA at the time of its blockchain launch, to Carbon’s decision to enlist ampLUNA and stLUNA as Alliance assets, the community has witnessed several key developments.

One of the most crucial developments was the inception of Alliance staking by Station, facilitating users to effortlessly stake their Alliance assets across respective chains. Accompanying this, TFM made a debut in the Cosmos with limit orders for non-fungible tokens (NFTs).

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Additionally, Back Bone Labs publicized that its NFT marketplace, Necropolis, would expand support for new NFT collections and start charging trading fees from July 1st, 2023. A new NFT aggregator was also unveiled by TFM, granting users the convenience of researching and purchasing NFTs across different marketplaces through a single interface.

In the sphere of staking, Lion DAO initiated the utilization of warp_protocol jobs to automate the distribution of ROAR staking rewards to community members. Moreover, Smart Stake introduced Liquid Staking Token (LST) rich lists, allowing users to monitor the largest holders on Terra.

As for design updates, Station embraced the new Blossom and Moon themes, and users now have the option to switch to these in the settings. In terms of competitions, Andromeda initiated its testnet competition, the Andromeda Galaxy Testnet, rewarding 100K ANDR to developers who assist in testing new technology.

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In the realm of governance, Confio’s Community Pool spend proposal passed with 77% approval, supporting the development of CosmWasm and other projects beneficial to Terra. Neptune Finance’s proposal for an audit reimbursement from the Community Pool also passed, receiving 87% approval.

One of the biggest news was the announcement of an Alliance between Carbon and LUNA. Shortly after this, Carbon’s governance whitelisted stLUNA and ampLUNA as stakable Alliance assets, enabling additional yield for LUNA Alliance stakers. On a similar note, Prism Protocol disclosed its plan to integrate the Alliance module and whitelist LUNA as an Alliance asset upon its chain launch.

However, summarizing a month of Terra’s events is challenging, and some points may have been missed or require correction. Therefore, community feedback is always appreciated. The dynamism and progress within the Terra community during May have undoubtedly set an exciting tone for the coming months.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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