Terra 2019 — Year in Review
Dear Terra Community,
Just a year ago, Terra was a small team of 14 who had a lot to prove to the world. Today, not only do we have an independent, stable DPoS blockchain with 50+ validators, but we have grown into a team of 50 passionate members who are all working hard towards delivering the next big innovation in the story of money.
’Tis the season of looking back, and we wanted to share a quick snapshot of the highlights from 2019.
December Highlights CHAI 2019 in numbers 860,000+ Users 11 online platforms $136 million processed to date Mainnet Columbus-3 successfully launched with a 0.5% transaction fee
CHAI 2019 in numbers
- 860,000+ Users
- 11 online platforms
- $136 million processed to date
Mainnet Columbus-3 successfully launched with a 0.5% transaction fee
- The genesis block for Columbus-3 was created in the wee hours of the morning on December 14 (KST). Big thanks to all of our validators who made sure the hard fork went smoothly. On Terra Station, you might have noticed that staking rewards are now solely based on transaction fees and the yield is still above 10% — a testament to how much Terra’s network has grown in the past eight months!
Luna listing on Bithumb
- Luna was listed on both Bithumb Korea and Global last friday. Many more of these to come in 2020!
In Luna we trust
- Following Hashed’s lead, Korean blockchain research lab DECON published a striking valuation report on Luna. Comparing Terra to PayPal, MasterCard, and Visa, they concluded with projected unit prices for Luna ranging from $0.50 to $0.96.
- Seoul National University’s blockchain research group Decipher also published an in-depth report on Terra. The group noted that Terra KRT is extremely price-stable compared to other stablecoins such as USDT or USDC, and that Luna can be evaluated using a discounted cash flow model since those who stake Luna receive a consistent stream of cash resulting from transaction fees. They conclude that Luna should be currently valued at $0.80 and more if CHAI continues to grow.
Expansion, expansion, expansion!
- Terra payments are live in Mongolia: Through a partnership with local messenger app MemeChat, we launched MemePay, which enables instant stablecoin payments at cabs, gas stations, and department stores. Check out the Coindesk article or watch our intro video for more details.
- Singapore as our Southeast Asia hub: We finally announced that Terra is accelerating expansion by opening its Southeast Asia hub in Singapore. Rahul Abrol, Uber’s former Head of Strategy, will lead Terra’s international expansion efforts and foster innovation within Singapore’s growing fintech ecosystem. If you haven’t already, check out his letter to the community.
Thank you for the continued support!
Happy New Year!