Fueled by a passionate community and deep developer talent pool, the Terra blockchain is built to enable the next generation of Web3 products and services.
1/ Alliance is an open-source module that enables blockchains to form mutually beneficial relationships, similar to trade agreements between countries 🤝
Discover how Alliance works and how alliances are formed in our new video:
Alliance resources 🧵⤵️
The Terra blockchain has officially halted at block 7607789.
Terra Validators have halted the network to come up with a plan to reconstitute it.
More updates to come.
A post-mortem on everything that transpired the past week is in progress. It will be published asap.
These are tremendously difficult times for everyone affected. The feelings are still raw. Please be safe.
The strength of the
#LUNAtics
has been amazing. More to come.
All updates will be posted on this Twitter account (
@terra_money
). Any other Twitter accounts purporting to represent Terra are fake.
Users are advised to be on the lookout for scams.
The Terra blockchain was officially halted at a block height of 7603700.
Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.
The Terra blockchain has resumed block production.
Validators have decided to disable on-chain swaps, and IBC channels are now closed.
Users are encouraged to bridge off-chain assets, such as bETH, to their native chains.
Note: Wormhole bridge is currently unavailable.
1/ Terra 2.0 is coming.
With overwhelming support, the Terra ecosystem has voted to pass Proposal 1623, calling for the genesis of a new blockchain and the preservation of our community.
1/ The prevailing peg pressure on $UST from its current supply overhang is rendering severe dilution of $LUNA.
The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads.
The Terra blockchain has resumed block production.
Delegations are disabled now that the chain is live with the new code merge.
Validators, please check the Discord announcements for the latest patch notes.
The patch release is out:
Delegations will be disabled once block production resumes.
The network should go live once 2/3 of the voting power comes online. An update will be provided accordingly.
1/ Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022!
Congratulations to the
#LUNAtic
community on this expeditious feat of collaboration 🎉
The final Post-Attack snapshot to calculate the genesis $LUNA distribution for Terra 2.0 has now passed.
Validators will now be hard at work assembling a genesis file for the launch. Stay tuned.
1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA
1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives.
The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.
📣 Attention $LUNA airdrop recipients 📣
We are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution.
More information will be provided when we have gathered all of the data, so stay tuned.
The Terra blockchain was officially halted at a block height of 7603700.
Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.
The patch release is out:
Delegations will be disabled once block production resumes.
The network should go live once 2/3 of the voting power comes online. An update will be provided accordingly.
With the passing of Prop 1623 earlier today, the
#LUNAtic
community is gearing up for the next chapter in Terra’s story 📖
Get all of the information you need on the new $LUNA airdrop ahead of the launch on May 27th 👇
1/ We have published an amendment to Proposal 1623, incorporating the community’s feedback since its publication 2 days ago. Please see below for details 👇
1/ Terra governance prop
#1623
to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live.
Vote here:
1/ Liquidity brawl behind the scenes amid material $UST peg deviation on third-party venues.
Fighting back. More updates are incoming
#LUNAtics
. Hang on, fam.
Here are some resources to combat misinformation:
9/ Please note that TFL is in the war room and has been non-stop for the past four days working on solutions and potential avenues to help affected users and stop the bleeding.
Publicly, we will continue to release updates as developments unfold.
1/ Recently, bad actors have been capitalizing on Terra-related events by purchasing $LUNA & posting fake proposals on Station with phishing sites quoted in the link. These proposals claim to lead users to a preview of Terra 2.0 & dApps launched by us - which is not the case.
1/ The prevailing peg pressure on $UST from its current supply overhang is rendering severe dilution of $LUNA.
The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads.
1/ Recently, a few community members (including some from TFL) have referred to the proposed new blockchain in Prop 1623 as a “fork” as opposed to a genesis chain.
Note: The revival plan is not proposing a “fork” of the existing chain, but rather the creation of a new one 🧵.
10/ Outside of Twitter, we’re active with our moderators on Discord and Telegram, where you can get assistance with many of the moving parts due to the past day’s events.
More to come. Please bear with us.
1/ Thrilled to reveal the blossoming collaboration between
@avalancheavax
and Terra will also be further solidified with a $100 million Treasury Swap between TFL and the Avalanche Foundation of $LUNA <> $AVAX to strategically align ecosystem incentives!
1/ The long awaited [REDACTED] 💎3 is here!
📣 The Luna Foundation Guard (LFG) has closed a $1 billion private token sale to establish a decentralized $UST Forex Reserve denominated in $BTC! 📣
🧵👇
1/ Prop 1299 to (re)enable IBC has passed but did not successfully execute due to technical issues. Namely, the proposal attempted to enable IBC transfers which were already enabled 🧵.
1/ The
#LUNAtic
community continues to amaze. Within a week of Terra 2.0 going live, many of your favorite dApps are up & running. More to come 🔜
As part of launch, Terra’s Agora governance forum is getting an upgrade 💪
The voting period for Prop 1747 to burn the remaining $UST in the Community Pool + cross-chain liquidity incentive $UST ends in less than 24 hours!
Cast your vote 👇
View the proposal details 👇
3/ TFL is also initiating three more emergency actions:
1. Proposal to burn the remaining UST in the community pool.
2. TFL will burn the remaining 371 million UST cross-chain on Ethereum.
3. TFL just staked 240 million $LUNA to defend from network governance attacks.
1/ Thrilled to announce that
@chainlink
has officially gone live with their integration of premium market data on the Terra testnet!
#LUNAtics
, please welcome DeFi’s most widely relied on, decentralized price oracle solution to the Terra ecosystem :)
If you are using the public infra, please do not spam it at this time as we are experiencing naturally high levels of transaction volume. Please be mindful of our public infra usage.
More updates on today's events and future plans to follow.
10/ We are proud to be working closely with CEX partners, such as
@binance
,
@bybit_official
and many others, to support the airdrop to our community members who held tokens on exchanges.
7/ Overall, approximately 1,388,233,195 will be eliminated from the UST supply upon executing the three proposed items above. This equates to roughly 11% of the outstanding supply.
2/ To expedite this goal, several measures are being taken. First, the current Prop 1164 will expand the base pool size and accelerate the burn rate of UST – helping deflate on-chain spreads.
8/ Expelling the system's bad debt with the above items should help restore the on-chain swap spreads to a meaningful level where the peg pressure on UST is significantly alleviated. Once the new base pool proposal passes, this will also expedite the process.
1/ After much anticipation, we’re excited to announce that the [REDACTED] American professional sports partner of the Terra Community Trust (TCT) is the Washington Nationals MLB franchise!
Read the official press release here 👇
1/ 🚨Announcement🚨
Today, we’re excited to roll-out a new Governance Alert Bot 🤖 that will alert you to the latest governance activity happening on Terra 👇
1/ Prop 1188 to ‘Burn the remaining UST in community pool + cross-chain liquidity incentive UST’ passed but did not successfully execute due to technical issues - it attempted to burn more $UST from the pool than existed.
More info can be found here 👇
Terra can't make it "disappear" - the vote passed and was executed automatically by the system. However the execution failed due to incorrect parameter (malformed proposal that was not caught by proposer).
We will have to redo the proposal.
I can check for validity.
6/ Token distribution details can be found in the governance proposal, but to summarize:
● Community pool: 30%
● Pre-attack $LUNA holders: 35%
● Pre-attack aUST holders: 10%
● Post-attack $LUNA holders: 10%
● Post-attack $UST holders: 15%
1/ Terra’s first step towards building the interface to Web3 is complete.
We’re thrilled to announce the launch of Station 🛰 – an interchain wallet that simplifies the often complex process of interacting with multiple blockchain networks.
6/ TFL is currently exploring the best avenue to burn the remainder of its UST holdings, much of which has been accrued in recent days to absorb the sell-offs of UST in various open markets.
18/ Terra 2.0 is bringing the same ideals you fell in love with the first time: world-class UI/UX, our amazing
#LUNAtic
community, and a deep, talented developer pool poised to build the future of DeFi.
Get ready for launch
#LUNAtics
! 🚀 🚀 🚀
1/ Terra Bridge V2 is now LIVE on Terra mainnet using
@axelarcore
&
@cosmosibc
! 🙌
With V2, users can transfer assets to & from Terra 2.0, Ethereum, Osmosis, Secret, Cosmos, & Juno ↔️
Eventful day
Volatility
Knives out
FUD abound
Anchor liquidations orderly
Terra protocol humming
On-chain spreads healthy
3-pool rebalancing
Anchor withdrawals stabilized
$UST peg fine
Ezpz stress test
Mr. Kwon watering the plants again
Nice try beras
gn
14/ Our strength will always be in our community, and today is the most resounding sign yet of our resilience. We can’t wait to resume our work together building the future of money.
4/ You can find the full Agora proposal for burning the remainder of the community pool UST in the link below, including the proposal to burn the cross-chain UST. The vote will go live shortly.
5/ TFL will port the remainder of the UST deployed as liquidity incentives on Ethereum (371 million UST) over the past few months back to Terra and burn it all using the burn module pending the result of the governance proposal.
1/ A new proposal to airdrop $LUNA from the Community Pool to users who either did not receive the correct allocation of $LUNA at Genesis due to technical constraints or issues associated with indexing is live on Agora 👇
1/ Proposal 128 to initiate IBC on Terra has passed, meaning that IBC is now live on the Terra mainnet :)
Stay tuned for once the relayer channels are set up, and users can begin transferring tokens between Terra and the Cosmos ecosystem from Station.
3/ It will effectively create a new Terra chain without the algorithmic stablecoin. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA). The chain upgrade will commence a few hours after the Launch snapshot.
1/ 📣
#LUNAtics
, your portal to the best community in Web3 just got an upgrade. The new and improved is now live! 📣
Check it out, make yourself at home, and give us your feedback 👇
🔗
13/ Terra is powered by a passionate community and a deep pool of developer talent. Many of you shared thoughts and ideas on the proposal, and those contributions led to significant improvements. Thank you for your engagement.
17/ As a community, we said we would rise from the ashes. Tomorrow, one of the most decentralized and community-owned blockchains ever will launch as a result.
1/ Prop 446 to establish the emergency $LUNA allocation method for builders is live on Terra Station. The $LUNA allocation is aimed at providing teams with runway capital to continue building on Terra 2.0.
Cast your vote 👇
2/ A new prop (Prop 1747) has been posted with updated parameters. If passed, this proposal will burn the remaining $UST in the Community Pool + cross-chain liquidity incentive $UST.
9/ Today marks the beginning of the next chapter for the Terra community; one in which our potential knows no bounds & our collective creativity can flourish.
This is it
#LUNAtics
- it’s time to build 🚀
UPDATE -- The Columbus-5 migration has commenced and is currently underway. DO NOT interact with the Terra blockchain during this period.
We will immediately relay once the migration is complete and Columbus-5 is live, stable, and accessible by all.
Please stay tuned.
📣
#LUNAtics
, be aware that our account is NOT in any way affiliated with
@TerraLunaHQ
, who up through this point has been copying all of our tweets 📣
8/ Voting on Prop 1623 ends in 5 days.
Please review these amendments and cast your votes if you haven’t yet voted. 🗳️
If you’ve already voted & disagree with these revisions, please vote “No”. 👇
1/
#LUNAtics
, your votes are in and the Terra Phoenix Airdrop proposal has passed ✅
With the passing, 19,504,909 $LUNA will be requested from the Community Pool to execute an airdrop to wallets that did not receive the correct amount at Genesis.
🧵👇
📣 Attention
#LUNAtics
📣
On March 1st 8pm EST,
@stablekwon
&
@KariyaKanav
of
@JumpCryptoHQ
will be doing a deep dive into crypto, DeFi, $UST, & $LUNA. You won’t want to miss it!
⏰ Set your reminders for this giga-brain discussion 🧠
1/ The Columbus-5 mainnet deployment will be delayed ~3 weeks until a new block height of 4,724,000, roughly equivalent to the following times:
9/29 at 20:30 PST
9/30 at 03:30 UTC
9/30 at 12:30 KST
9/ The removal of these wallets from the airdrop whitelist will make Terra a fully community-owned chain. We believe this is an important step to empowering our ecosystem.
2/ To reach this point so quickly speaks volumes about our incredible community of users, validators, developers, and exchange partners 🌎
We’d like to thank each and every one of you for making this possible 🤝
Congratulations to our partner
@okx
on their 5-year anniversary! OKX has supported the launch of Terra 2.0 and $LUNA is available for trading on their platform 👇
3/ We are aware of the issues associated with this proposal & are working on getting the IBC channels open for users as soon as possible.
Stay on the lookout for future updates!
The supply of $UST is at an all-time high.
$LUNA is hitting new all-time highs.
Columbus-5 is ~22 days away.
A deluge of projects enveloping $UST and providing diverse sources of demand are ready to launch after Col-5.
IYKYK
1/ 📣 The upgrades keep on coming, and today we’re super excited to introduce the new Terra Docs! 📣
Take a look 👀👉
Your team has worked hard to roll out the
#bestdocsindefi
. Here’s what's new on the Terra Docs 🧵👇
A new proposal from
@jump_
is now posted on Agora outlining how the
@LFG_org
may deploy its $BTC reserve on-chain in a reserve model exogenous to the Terra protocol mechanics -- defending the $UST peg amid volatile, downward pressure.
Check it out:
4/ The final release of the new Terra Core has been released in preparation for the new chain launch on 27 May:
The code has successfully passed an audit by
@scv_security
: