March 2021 Community Update

👋 Hey Terrans!

March was a big month for Terra with the highly anticipated launch of Anchor Protocol — savings protocol offering an attractive and stable yield, powered by staking returns from multiple Proof-of-Stake blockchains. With a suite of products ranging from CHAI for payments, Mirror for investments, and Anchor for savings — each created with optimal user experience at the forefront — we’re thrilled to have established the backbone of a new decentralized financial system — with Terra’s stablecoin UST at the core of it.

As each product is built with composability and interoperability in mind, we are expectant of the ways in which each of these will serve as the foundation for fully decentralized financial solutions, bridging the gap to traditional finance and enabling a new generation of users to benefit from the innovation.

Introducing Anchor & its place in the bigger vision of Terra

Ecosystem Updates

• LUNA’s market cap triples over the past month, breaking $3B at the end of February to reach $9B in March, with 24H volume exceeding 1B — surpassing Dogecoin and wBTC.
• UST sees an explosion in demand: market cap exceeds $1B, outpacing a number of stablecoins and becoming the most popular stablecoin on Curve.
• Mirror reaches a major milestone, surpassing $1B in TVL within 3 months of launch. Currently at more than $1.5B.
• A series of proposals to burn all remaining funds (seigniorage) in the community pool (with the exception of 10M LUNA) and route all future seigniorage to be burned is initiated. Tweet thread here.
• The Terra Ecosystem Map providing insight into Terra’s product suite, analytics, & partnerships at a glance is live.
• TerraTHB (Thai Baht), proposed and passed by Terra voters, is the latest stablecoin to join Terra’s family of stablecoins — prompting this response from the Bank of Thailand. There are currently 15 Terra stablecoins; additional stablecoins can be proposed by any community member.
• Gate.io lists the UST/USDT pair.
• The RUNE-LUNA pair joins the IL Protection Pools on Sushiswap (inspired by this tweet).
• Oxis, a non-custodial wallet with fiat on and off-ramps, integrates with Terra.
• ApeBoard supports Terra, Mirror, & Anchor, enabling users to manage their staked $LUNA, $MIR, $ANC, and mAssets across Terra, Ethereum, and BSC — all in one place.

Technical & Product Updates

• 🌉 Terra Bridge goes live, providing a single interface to transfer assets between Terra, Ethereum, & BSC. Interchain transfers have never been so easy. Code can be found here.
• Multi-asset swap functionality is now on Terra Station, enabling users to swap their rewards into a single token in one step.
• PayWithTerra, API gateway enabling merchants to seamlessly integrate Terra stablecoin payments to websites or e-commerce platforms, goes live! Governance to allocate community funding to integrate Pay with Terra into major e-commerce platforms is in action.
• Terra Validators can now vote on oracle prices without fees.
• ⚓️ Anchor Protocol, the first savings protocol with a steady 20% interest rate, launched on March 17, 2021!
• Within 4 days of launch, Anchor holds $100M in deposits and $167M in TVL in four days since launch. See Anchor dashboard.
• For details around the launch, see the following series of tweet threads:
  D-3, D-2, D-1, Launch Tweet thread.
• CoinList partners with Anchor to enable CoinList users to immediately begin earning 20% interest on their UST deposit without having to leave the exchange.
• Anchor listings: OKEX (ANC-USDT), KuCoin (ANC/USDT, ANC/UST)
• Anchor contracts: ANC token contract, ANC-UST pair contract on Terraswap, wrapped ANC token contract on Ethereum.
• Mirror Protocol adds a new asset: Mirrored SPY Index (S&P 500). You can mint mSPY or stake in the mSPY-UST LP.
• Set Protocol, an Ethereum-based platform for tokenized index tooling, launches a custom FAANG index set for 5 major tech Mirror’s mAssets — Facebook, Amazon, Apple, Netflix & Google.
• Token Terminal launches the Mirror dashboard, enabling users to track Mirror with traditional metrics.
• More Mirror Updates here.
• Mirror Wallet now supports onramps in BTC, ETH, USDC, & USTD.
• ⚡️ BuzLink is putting its final touches on its mobile application, opening up a world of referral marketing in which all users benefit from sharing their favorite products.
• BuzLink scales referrals by generating referral links via a smart contract on Terra’s blockchain and distributing rewards — in the form of Buz points or Terra stablecoin KRT — to all participating referrers when a final sale is made. More details are in this tweet thread and article.
• With its first referral campaign in December and soft launch in February, BuzLink is poised to launch in the upcoming weeks, so stay tuned.

Features

• The Harvard Business Review mentions Anchor and Mirror in What Happens When Cryptocurrencies Earn Interest?
• CoinDesk covers the Anchor Launch, the Anchor pre-launch, and the Thai Central Bank’s response.
• CryptoBriefing and CryptoNinjas cover Anchor launch.
• Deep Dives into Anchor Protocol:
  - Delphi Digital: Anchoring the Market to a New Reference Rate
  - Arrington XRP Capital: Resurrecting the Saver — Walking Tall with Anchor
• Anchor launch: official launch post & introductory video.
• Anchor partners:
  - Lido’s role in bringing Liquid Staking on Anchor — bLUNA
  - CoinList as Anchor’s listing partner
• Anchor Tutorials: Staking Rewards, the Defiant, Nachodon, The Babylonians
• Nachodon’s Guide to Terra: Staking & Earning, Mirror Protocol, Putting LUNA/Mirror/Anchor together
• Terra Keynote covering the breadth of the Terra Ecosystem on the Persistence PoS Panel.
• The Tokenist covering LUNA, CHAI, Mirror, & Terraswap.
• Spencer Noon’s Our Network on the increase in UST supply.
• Live Features: CryptoCobain interviews Do Kwon and Vasiliy Shapovalov, Terra Bites podcast with Do Kwon.
• Tweet Threads: Do on Terra’s stability mechanism and Anchor launch BTS; community thread on Why 1K LUNA is FUD; a primer on Terra’s product suite; Delphi Digital on all things Anchor; a validator’s journey to Terra; Do’s thread on Tendermint validators.
• Noteworthy Tweets: hello Lark Davis, George Harrap, & CryptoJoker; friendly advice from Mike Novogratz; Arrington willing to invest in a ham sandwich (as long as it’s launched by Terra), Qiao Wang on how people are still sleeping on LUNA, degen LUNA poetry, & how Terra compares to other stablecoins.
• Terra Ecosystem visuals: Terra Ecosystem Guide, Yield Farming Guide, Terra’s Internal Flywheels Map, Arrington XRP Capital’s map.
• ⚓️ Link to Anchor communities here.
• 🪞 Link to Mirror communities here.

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