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Some key points from the Terra Community AMA with Do Kwon (April 2021) - thought I& #39;d give those who missed it a quick recap:
1/ Columbus-4 vs. Columbus-5
2/ Fintech and Terra Infra
3/ Insurance (Ozone)
4/ Anchor protocol
5/ Mirror
6/ Marketing ........
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🖊️" title="Kugelschreiber unten links" aria-label="Emoji: Kugelschreiber unten links">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
1/ Columbus-4 vs. Columbus-5
2/ Fintech and Terra Infra
3/ Insurance (Ozone)
4/ Anchor protocol
5/ Mirror
6/ Marketing ........
1/ Columbus-4 vs. Columbus-5
- Current C-4 Terra blockchain derives staking yield from (i) tax rates parameter and (ii) reward weight parameter;
- (i) Tax rates: everytime terra stablecoins change hands (e.g. $UST, $KRT), a certain % of txn is paid out to $LUNA stakers
- Current C-4 Terra blockchain derives staking yield from (i) tax rates parameter and (ii) reward weight parameter;
- (i) Tax rates: everytime terra stablecoins change hands (e.g. $UST, $KRT), a certain % of txn is paid out to $LUNA stakers
1.1/ C-4 vs. C-5
(ii) Reward weight: refers to whenever $LUNA is being swapped to mint Terra, and how that $LUNA ends up being spent in the Terra ecosystem;
- Weight is currently algorithmically calibrated
- Certain % burned > remaining goes to community pool, staking rewardshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="💰" title="Geldsack" aria-label="Emoji: Geldsack">
(ii) Reward weight: refers to whenever $LUNA is being swapped to mint Terra, and how that $LUNA ends up being spent in the Terra ecosystem;
- Weight is currently algorithmically calibrated
- Certain % burned > remaining goes to community pool, staking rewards
1.2/ So what& #39;s different in Columbus-5?
- Minting $1 worth of $UST burns $1 worth of $LUNA
- All staking rewards coming to $LUNA comes from fees the system
- All seignorage to be burnthttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🧨" title="Firecracker" aria-label="Emoji: Firecracker">
- Minting $1 worth of $UST burns $1 worth of $LUNA
- All staking rewards coming to $LUNA comes from fees the system
- All seignorage to be burnt
2/ Question regarding fintech apps integrating with Anchor vs. building competing infra themselves
- @d0h0k1 believes it& #39;s unlikely that fintech companies will be able to pull off their own blockchains that would end up in the top ranks of PoShttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🧑💻" title="Techniker(in)" aria-label="Emoji: Techniker(in)">
- @d0h0k1 believes it& #39;s unlikely that fintech companies will be able to pull off their own blockchains that would end up in the top ranks of PoS
2.1/ Fintech & Terra Infra
- Do himself runs a fintech company (presumably referring to CHAI Payments) so he knows the fintech demand landscape
- Confidence comes from information asymmetry vs. wider public
- Many others are looking for solid blockchains to integrate with
- Do himself runs a fintech company (presumably referring to CHAI Payments) so he knows the fintech demand landscape
- Confidence comes from information asymmetry vs. wider public
- Many others are looking for solid blockchains to integrate with
3/ Insurance protocol (Ozone / $O3?)
- Swap all $LUNA in community pool, burn it to mint UST > bootstrap insurance protocol
- Detailed mechanisms at later stage
- Intention is to seed existing protocols like @anchor_protocol, @mirror_protocol with hundred millions of capital
- Swap all $LUNA in community pool, burn it to mint UST > bootstrap insurance protocol
- Detailed mechanisms at later stage
- Intention is to seed existing protocols like @anchor_protocol, @mirror_protocol with hundred millions of capital
3.1/ Insurance (Ozone)
- Inspire confidence in the public to adopt their products (savings, synthetic trading, etc.)
- Significantly accelerate adoption of @terra_money& #39;s DeFi stack
>>> Burn loads of $LUNA in the processhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Feuer" aria-label="Emoji: Feuer">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🌒" title="Zunehmender Halbmond Symbol" aria-label="Emoji: Zunehmender Halbmond Symbol">
- Inspire confidence in the public to adopt their products (savings, synthetic trading, etc.)
- Significantly accelerate adoption of @terra_money& #39;s DeFi stack
>>> Burn loads of $LUNA in the process
3.2/ Insurance (Ozone)
- Other insurance protocols don& #39;t work as well due to manual claims and risk assessments
- Ozone ($O3) will be purely algorithmic > no need to appeal to centralised counterparty
- Other insurance protocols don& #39;t work as well due to manual claims and risk assessments
- Ozone ($O3) will be purely algorithmic > no need to appeal to centralised counterparty
3.3/ Insurance (Ozone)
- Anchor depositors deposit $UST into Ozone Anchor vault
- Ozone then deposits $UST into Anchor, and takes a % cut of the APR to grow the insurance liquidity fund
- Anchor depositors deposit $UST into Ozone Anchor vault
- Ozone then deposits $UST into Anchor, and takes a % cut of the APR to grow the insurance liquidity fund
4/ Developments on @anchor_protocol
- Goal of Anchor is to incorporate as many different types of collateral as possible
- At the same time, accept stablecoins across all chainshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🪙" title="Coin" aria-label="Emoji: Coin">https://abs.twimg.com/emoji/v2/... draggable="false" alt="💱" title="Währungsumtausch" aria-label="Emoji: Währungsumtausch">
- Goal of Anchor is to incorporate as many different types of collateral as possible
- At the same time, accept stablecoins across all chains
4.1/ Anchor
- Fiat on/off ramps are easy > that& #39;s not Anchor& #39;s goal
-https://abs.twimg.com/emoji/v2/... draggable="false" alt="🌟" title="Leuchtender Stern" aria-label="Emoji: Leuchtender Stern">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🌟" title="Leuchtender Stern" aria-label="Emoji: Leuchtender Stern">Vision: all the different lending protocols become frontend interfaces that wrap around Anchor
- @anchor_protocol becomes the "federal funds rate" in the world of blockchains
-https://abs.twimg.com/emoji/v2/... draggable="false" alt="⌛️" title="Sanduhr" aria-label="Emoji: Sanduhr">https://abs.twimg.com/emoji/v2/... draggable="false" alt="⌛️" title="Sanduhr" aria-label="Emoji: Sanduhr"> Est. timeframe! ~12 mths
- Fiat on/off ramps are easy > that& #39;s not Anchor& #39;s goal
-
- @anchor_protocol becomes the "federal funds rate" in the world of blockchains
-
5/ @mirror_protocol v2
- To resemble perpetual swap contracts
- Users can take long / short positionshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="📉" title="Tabelle mit Abwärtstrend" aria-label="Emoji: Tabelle mit Abwärtstrend">https://abs.twimg.com/emoji/v2/... draggable="false" alt="📈" title="Tabelle mit Aufwärtstrend" aria-label="Emoji: Tabelle mit Aufwärtstrend">
- Docs are finished, audit started
- Specs should be uploaded this weekhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⏲️" title="Tischuhr" aria-label="Emoji: Tischuhr">
- To resemble perpetual swap contracts
- Users can take long / short positions
- Docs are finished, audit started
- Specs should be uploaded this week
5.1/ How will mirror v2 work?
- Synthetics are backed by a pool of $UST > which can be stored on anchor for 20% APY
- 20% can swing between longs and shorts to simulate a virtual funding rate (like in perps)
[I don& #39;t actually understand this part very well - may need elaboration]
- Synthetics are backed by a pool of $UST > which can be stored on anchor for 20% APY
- 20% can swing between longs and shorts to simulate a virtual funding rate (like in perps)
[I don& #39;t actually understand this part very well - may need elaboration]
5.2/ Regarding Mirror& #39;s governance quorum
- "Quorum rules are difficult to reach for any proposal"
- @d0h0k1 disagrees > the most interesting proposals have indeed been passed
- Could be a case of selection bias > those complaining are providing not-sufficiently compelling assets
- "Quorum rules are difficult to reach for any proposal"
- @d0h0k1 disagrees > the most interesting proposals have indeed been passed
- Could be a case of selection bias > those complaining are providing not-sufficiently compelling assets
6/ Marketing
- Some community members feel the team lacks focus on the marketing front
- @d0h0k1 believes the $LUNA community is strong and works pretty hard > has delivered strong brand recognitionhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="💫" title="Symbol für Benommenheit" aria-label="Emoji: Symbol für Benommenheit">https://abs.twimg.com/emoji/v2/... draggable="false" alt="💫" title="Symbol für Benommenheit" aria-label="Emoji: Symbol für Benommenheit">https://abs.twimg.com/emoji/v2/... draggable="false" alt="💫" title="Symbol für Benommenheit" aria-label="Emoji: Symbol für Benommenheit">
- @terra_money doesn& #39;t need paid marketing
- Some community members feel the team lacks focus on the marketing front
- @d0h0k1 believes the $LUNA community is strong and works pretty hard > has delivered strong brand recognition
- @terra_money doesn& #39;t need paid marketing
6.1/ Marketing
Personally feel we& #39;re not in need for a dedicated marketing team. Your product should speak for itself and our #Lunatics community is pretty solid at that.
Check out these guys who post $LUNA updates dailyhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts"> @ConstanteMx @AlphaSeeker21 @NicolasFlamelX @iii_OIO_iii
Personally feel we& #39;re not in need for a dedicated marketing team. Your product should speak for itself and our #Lunatics community is pretty solid at that.
Check out these guys who post $LUNA updates daily
Conclusion/
You can already see how much and fast the TFL team has shipped since 4 months ago. Yet, they& #39;ve got a strong pipeline ahead in the next 6-12 months - at least 20 different items.
Disclaimer: none of the above is financial advice + $LUNA is my biggest baghttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👨🚀" title="Astronaut" aria-label="Emoji: Astronaut">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🌙" title="Mondsichel" aria-label="Emoji: Mondsichel">
You can already see how much and fast the TFL team has shipped since 4 months ago. Yet, they& #39;ve got a strong pipeline ahead in the next 6-12 months - at least 20 different items.
Disclaimer: none of the above is financial advice + $LUNA is my biggest bag
