LUNC circulation
Terra vesting tokens unlocks
Terra community tokens unlocks
Unlocking of LUNC tokens from community pool
Chai is a payments application that works in close proximity with Terra. After its launch in June of 2019, it has seen tremendous growth by partnering with major commerce players in Korea such as TMON (general e-Commerce), Yanolja (hospitality and leisure), and CU (#1 convenience store with over 14000 stores across Korea). Some key metrics for the project are as follows: 1M+ users accumulated in less than a year, $400M in expected annual transactions (run-rate), integrations with 12+ major commerce players in Korea with many more to come. Chai's transaction volumes are reflected on the Terra blockchain, meaning that The transaction volumes of the Chai payment application are correlated with Terra transaction volumes.
Chai utilizes seigniorage-funded discounts to offer deals for customers who choose Chai at merchant checkout. This creates a virtuous cycle where (1) users select Chai at a merchant's checkout page (2) Chai/Terra tx volume increases which in turn increases Terra money supply (seigniorage creation) (3) seigniorage is allocated to Chai which then uses it as a budget for providing promotion discounts (4) Users are incentivized to use Chai at checkout due to seigniorage-driven promotional schemes.
Given the scale of current Chai transaction volumes, its potential to capture even more volume through continued business growth, and its clear value proposition for both the Terra ecosystem and users shoppping for everyday goods and services, it is our firm belief that Chai provides the highest ROI for seigniorage spent at this juncture.
Proposer: Blockdaemon
https://agora.terra.money/t/infrastructure-proposal-for-community-pool-funding/320
https://agora.terra.money/t/proposal-to-burn-all-seigniorage/438
We need some funds to revision of the system and plugins (coding), design and illustrations, legal. Detailed description on topic:
https://agora.terra.money/t/proposal-paywithterra-community-pool-funding/492
Development of a decentralized P2P exchange for Terra Assets:
https://agora.terra.money/t/localterra-p2p-decentralized-exchange-for-terra/638
Andromeda Labs has an ambitious vision of creating a new NFT paradigm in which contracts are embedded with governance, rules, royalties, and other commercial terms. This will establish a new standard for development and delivery of multiple industries and opportunities in the Terra ecosystem.
Agora Post:
https://agora.terra.money/t/proposal-funding-for-andromeda-nft-protocol-1-0/
The Andromeda Team is anxious to answer any questions you may have with this proposal and the protocol we're trying to build. And as always, we thank you for your support.
Kado's goal is to become the UST - USD Gateway. Where TradFi and DeFi worlds collide.
Terra is money. Kado is here to accelerate that reality. Learn more about Kado on our Agora proposal: https://agora.terra.money/t/kado-community-funds-proposal/1243
Details provided at https://agora.terra.money/t/bringing-terra-stablecoins-to-solana/1537/1
Requesting funding for UST liquidity incentives on Saber, a Solana-based AMM. Based on the previous proposal to Mercurial, we are requesting ~$170,000 in LUNA, which at current price of $11.50/LUNA is approx. 15,000 LUNA.
Further details provided at https://agora.terra.money/t/bringing-terra-stablecoins-to-solana-pt-2-and-beyond/1691
Goals and Impacts
- Create a high-velocity pool of capital to take advantage of opportunities within Terra.
- Establish 3rd parties to verify quality and keep initiatives accountable to high-leverage use of community resources.
- Increase overall metabolism and rate of innovation within the Terra Ecosystem.
Rapid grants will be deployed to accelerate teams the Terra Ecosystem Committees believed to be essential to ecosystem development and the overall health of the Terra ecosystem. Thus, we will move fast to secure opportunities within the ecosystem.
- Rapid Grants pool fund to be seeded with an initial 300K LUNA to provide funding for teams that would benefit the ecosystem via rapid funding. For example, upcoming hackathons/sponsorships, and teams that the Committee would like to expose to the Terra Ecosystem heavily.
- The initial funding will be for Q3 and Q4 of 2021 encompassing August 1 (or whenever proposal passes, whatever happenss earlier) to December 31st, 2021.
- In this format, funding decisions are to be made within 72 hours of the formal submission of a proposal. This is opposed to the potential 4-week period of a proposal review by TFL as well as the two-week on-chain vote period, which provides flexibility for teams to maintain high shipping velocity. Teams will still be required to submit all necessary proposals and milestone documentation. All funding will be auditable on-chain. However, select teams will be eligible for distribution via a rapid grant.
- The Terra Ecosystem Committee will vote on all Rapid Grants and a simple majority will be needed to approve a Rapid Grant. Rapid Grants are to be recorded in public via the public Terra Ecosystem page for community records.
- Rapid Grants bypass the on-chain vote and instead delegates authority to internal TFL members to issue grants.
- The Rapid Grants pool will also be used to fund expenses related to the program including Hackathon development, sponsorships, and other community initiatives (CosmWasm course development, etc), creation of podcasts, institutional reports, conferences, etc. to increase overall developer supply.
Proposed Initial Terra Ecosystem Committee
TFL Leader - @0xwagmi, Ecosystem Lead, Terraform labs
TFL Leader - Stanford Liu, Research, Terraform labs
Community Leader - @treehugger
Community Leader - @SebNondzee
Partner Protocol Leader - @tansawit, Band Protocol
Ecosystem Fund Leader - Ninor Mansor, Arrington XRP Capital
Ecosystem Tech Leader- @Larry0x, Delphi Digital
Proposal Discussion: https://agora.terra.money/t/proposal-tfl-communitypool-spend-rapid-grants-to-accelerate-ecosystem-development-with-committee-oversight/1714/10
Requesting 3,976 LUNA from the community pool as incentives for liquidity provision to the following pools on the Osmosis DEX.
* LUNA/UST
* OSMO/UST
The aim being to establish a useful base level of liquidity for UST to become the trusted dollar stablecoin of choice on Osmosis, which in turn will benefit LUNA.
Further details provided at https://agora.terra.money/t/proposal-luna-incentives-for-osmosis-liquidity-pools/2244
https://agora.terra.money/t/communitypoolspendproposal-burn-pre-col5-community-pool/2429
The vision behind TeFi Alpha is to unite the Terra Ecosystem and to embolden our builders, innovators, and community leaders, to create the next generation of reality-breaking technologies on the Terra Blockchain.
In a world that is growing ever-more centralized, it is imperative that we continue to provide our ecosystem with in-person opportunities to meet, collaborate, and cross-pollinate.
The prevailing concept of the event is that it is the premier space for projects to “drop alpha”, meaning the biggest announcements and unveilings they have.
For more information and contribute to the discussion, please us the link below.
Agora Post: https://agora.terra.money/t/community-grant-proposal-to-expand-tefi-alpha-worldwide/2585
The proposal #142 has wrong requested amount, so please vote No.
https://agora.terra.money/t/deploy-3-million-of-community-pool-luna-for-ust-liquidity-mining-incentives-across-strategic-apps-and-protocols-on-major-layer-ones/2750
TrackTerra is seeking $42,680 UST (1041 luna) to cover development costs. Funds will be held in a multisig wallet held by the TrackTerra team and dispersed in line with the outlined milestones.
https://agora.terra.money/t/grant-proposal-funding-for-trackterra
requesting $2M worth Luna LM incentive for the seven solana projects.
discussion - https://agora.terra.money/t/is-anyone-building-a-ust-style-stablecoin-for-solana/3225
https://agora.terra.money/t/liquidity-mining-proposal-3-incentives-for-ust-adoption-on-avalanche-fantom-and-moonbeam/3442/3
IBC Relayers have been relaying IBC for several months out of their own pockets.
This proposal is to pay back the fees they have spent doing this so far.
See https://agora.terra.money/t/proposal-community-pool-spend-relayers-who-relay-terra/5040/18 for more details, and participants of the multi sig.
Rebel Station is hosted and fully-managed by Terra Rebels, but still relies on significant parts of TFL’s back-end assets/infrastructure. Terra Rebels therefore propose that we must urgently perform work to separate the Rebel Station from TFL. This work has the following components:
* Provision of backend infrastructure and assets on TR controlled hosting
* Refactor Rebel Station frontend to reference TR backend assets and infrastructure
* Remove TFL proprietary private APIs, reverse engineer, and create local alternatives
* Testing and deployment
The recipient wallet address is a new multisig wallet controlled by multiple TR team members that has been created specifically for this project.
Full details of the proposal can be found on Classic-Agora:
https://classic-agora.terra.money/t/separation-of-rebel-station-from-tfl-infrastructure/48698?u=terrarebels
In recognition of the maintenance updates required for the Luna Classic blockchain, I propose that the Luna Classic community contract several experienced blockchain developers to complete the required updates to upgrade and stabilize the L1 layer. At the height of Terra, Terraform Labs had a team of 6-8 senior L1 blockchain developers. With this level of support, developers could focus on innovation in addition to security and maintenance. Given our current situation, as well as severe budget constraints, I am proposing that we budget to hire the equivalent of 3 full time L1 blockchain developers to focus primarily on essential maintenance upgrades to be completed in the next 4-6 months. Upon the successful stability upgrades, the development team would transition to more innovative and long term advancements.
The proposed team of individuals would be three members of the community that have significantly contributed to the L1 layer in the past 7 months, specifically Tobias, Ed, and Till, with invaluable contributions from Notional Labs (Jacob Gadikian’s group). The concrete L1 developments delivered (in-part or whole) by this team include re-enable staking, re-enable delegation, parameterized on-chain burn tax, re-enable IBCs, and dragonberry exploit patch. Additional support on parameter chain updates, relayers, CEX coordination, innovative chain proposals, and community educational materials have also been delivered by these individuals.
Please see the additional details, milestones, and structure here,
https://classic-agora.terra.money/t/joint-l1-task-force/49108
During the first quarter of 2023 the Joint L1 Task Force completed several large-scale upgrades for the Luna Classic blockchain. These included v1.0.5 hotfix, v1.1.0, and v2.0.0 (v2.0.0 release candidate was released on March 31st). The v2.0.0 upgrade is a major blockchain upgrade containing upgrades to Cosmos SDK v0.45.13 and Tendermint v34.24, and will be deployed in the columbus-5 mainnet through a chain-halt upgrade in late April.
Given a successful first quarter, it is proposed that the L1 Task Force receives a Q2 mandate to continue development on the blockchain, and complete the development work which has largely already been completed. In Q2 the L1 Task Force will focus on extensive testing for the v2.0.0 upgrade and building out the testnet, and deploy v2.1.0, bringing the blockchain to parity with other cosmos blockchains.
Primary Benefits anticipated by the End of Q2:
- Upgraded Cosmos SDK and Tendermint environment
- Minimum deposit on governance to prevent scam proposals (Minimum initial - deposit for deposit proposals)
- Parity with other Cosmos blockchains
- Fee Sharing incentive feature for smart contract developers *Activation of feature dependent on separate governance approval
- Options for bridging cross-chain liquidity assessed
- Station on-ramp investigation and completed proof of concept
After internal discussion, the team feels we only require one junior developer on an as-needed basis (discretionary budget) for this quarter to meet our objectives, as such the community proposal ask has been adjusted accordingly.
The link to the agora proposal with amendments can be found at the following location:
https://classic-agora.terra.money/t/joint-l1-task-force-q2-proposal-with-amendments/50791
Terra Rebels have successfully deployed a fully independent public infrastructure into full production for the operation of Rebel Station, Rebel Finder, public dApps etc. We now issue this follow-up spend proposal to consider the ongoing support, maintenance and running costs for the infrasturcture as described in detail in our Agora proposal: https://classic-agora.terra.money/t/terra-rebels-infrastructure-operations-and-maintenance-v2/51276
Similar support/running cost spend proposals will be issued every three months.
Introduction
We propose a project for the modeling and simulation for the USTC Incremental Repeg Buybacks & Staking Swaps proposal by Redline.
The project aims to enhance an existing tool, conduct rigorous analysis, and provide valuable insights into the algorithm's strengths and weaknesses. We seek support from the Terra Classic community to fund this impactful project.
We will be reproducing what the Market Module does off chain to make it easier to tweak the algorithm and iterate without the various blockchain constraints (eg. deployment, testnet, etc.).
We've rewritten the LUNC<>USTC market module in python, excluding all the parts inherent to Cosmos such as creating the tokens, managing protocol accounts, etc. This makes it easier and faster to model and test future solutions.
Project Objectives
- Enhance the existing tool to accommodate the USTC Incremental Repeg Buybacks & Staking Swaps algorithm proposed by Redline.
- Conduct thorough modeling and simulation of the proposed algorithm to understand its behavior and potential impact on the Terra Classic ecosystem.
- Analyze simulation results to evaluate the algorithm's performance under different market conditions and stress tests.
- Identify and document the strengths and weaknesses of the algorithm, assessing its effectiveness and associated risks.
- Provide the community with comprehensive insights and recommendations based on our findings.
The Team
The project team will consist of four individuals who each bring a unique set of skills and expertise. Two senior Quants, one junior Quant, and two Quant Developers will work together to achieve the project's objectives:
- Faffy / ALex: Senior Quants
- Redline: Junior Quant
- Bilbo / Kyjack: Quant Dev
- Professor Ed: Free / open source contributor
The payment breakdown will be as follow:
- Redline / Bilbo / Kyjack will work part time for 3,000$ each per month (9000$ in total per month)
- Alex will work full time for 5,000$ per month
- Faffy will work full time for 6,000$ per month
- Total for this proposal (4 weeks): 222,222,222 LUNC
- There will be another proposal in 2 to 3 weeks to vote for the second months
Timeline and Milestones
- The project timeline will span two months, divided into the following milestones:
- Enhancing the existing tool to accommodate the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.
- Conducting modeling and simulations, capturing the algorithm's behavior and performance.
- Analyzing simulation results, evaluating performance under various market scenarios, and identifying strengths and weaknesses.
- Producing a comprehensive report with recommendations for the LUNC community.
Deliverables
- An enhanced tool capable of accurately simulating the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.
- Simulation results and analysis report, evaluating the algorithm's performance in different market conditions.
- Documentation of identified strengths and weaknesses, including risk assessment.
- Rolling out the necessary infrastructure and tools for any future Repeg proposal or new stable algo testing / evaluation.
- Vote YES to release 222,222,222 LUNC (20,000$) payment for the first month of work
- Vote NO otherwise
Link to the full proposal: https://commonwealth.im/terra-classic/discussion/11673-modeling-and-simulation-for-the-ustc-incremental-repeg-buybacks-staking-swaps-proposal-by-redline
As of June 14th, during the second quarter of 2023, the Joint L1 Task Force has successfully achieved technological parity between the Luna Classic blockchain and other Cosmos blockchains. The first upgrade, v2.0.1, involved upgrading the Cosmos SDK to version 0.45.13 and Tendermint to version 0.34.24. The implementation of Cosmwasm v1.1.0 ensured that Luna Classic's smart contracts are now fully compatible with other Cosmos blockchains. Additionally, the L1 Task Force has implemented a 5% minimum validator commission, setting all validators to a minimum commission of 5%. With the completion of these challenging tasks, the L1 Joint Task Force is confident in achieving all the deliverables outlined in Proposal 11462 by the end of the second quarter.
Based on the successful progress in the first and second quarters, it is proposed that the L1 Joint Task Force be granted a mandate for Q3 to continue the blockchain's development. During Q3, the L1 Task Force will shift its focus to developing strategies to enhance and expedite the reduction of supply for Luna Classic and USTC. The market module will play a key role in achieving this goal. By implementing appropriate capital controls and safeguards, the L1 team aims to prevent potential "death spirals" and utilize the market module to accelerate the reduction of Luna Classic supply.
In Q2, a USTC test environment will be configured to facilitate the testing of various failsafe mechanisms for the market module in Q3. This test environment will closely approximate the mainnet environment. It will allow for testing the market module and its failsafe/circuit breaker mechanisms using testnet LUNC and USTC tokens.
For Q3, it is proposed to upgrade the Cosmos SDK to allow for additional interoperability with newer optional features being developed in the Cosmos ecosystem. One such feature is the Alliance module, and the L1 team will seek community feedback through a signaling proposal to determine if the community would like to implement the Alliance module in Q3.
The L1 Team will also assist and coordinate with other external teams, such as the 'quant' team throughout the quarter.
The L1 Task Force team members for Q3 will include Superman, Till, Xi, Vinh, and Gevik. They will be managed by LuncBurnArmy.
Primary Benefits anticipated by the End of Q3
- Migration from Columbus-5 to Columbus-6 or an implementation of an alternate solution to reduce sync time for Archive nodes, and to improve overall network performance.
- Developed and tested failsafe mechanism within market module to prevent future ‘death spiral’ or excessive minting of tokens.
- Cosmos SDK upgraded to v46.x or v47.x
https://commonwealth.im/terra-classic/discussion/11806-l1-task-force-q3-proposal-with-revisions
Terra Rebels is pleased to have successfully operated and maintained our infrastructure cluster in full production for a complete quarter. The purpose of this spend proposal is to ensure that the infrastructure can be operated and maintained for an additional quarter.
This spend proposal covers the following items:
* Ongoing infrastructure running costs (hosting, power, and internet) for the cluster
* Technical support and maintenance of the cluster hardware and software
* Maintenance of the layer 2 testnet infrastructure
* Layer 2 testing and maintenance services
The full proposal description with additional items included can be found on the TR forums: https://forums.terrarebels.net/t/sustainable-ongoing-operations-of-tr-infrastructure-and-related-apps-for-q3/634
Similar support/running cost spend proposals will be issued every three months.
USTC / Stable Algo Quant Team - Month 2/2
ATTENTION!
This proposal has been re-submitted on behalf of LUNC community. Quant Team is too nice and proud to re-submit it, so somebody has to do it. This time, since the TS is working again, we can expect proper validator voting turnout and live with the final results. Please take this proposal seriously and don’t pull any last-minute tricks. Thank you!
This proposal has been re-submitted on behalf of LUNC community. Quant Team is too nice and proud to re-submit it, so somebody has to do it. This time, since TS is working again, we can expect proper validator voting turnout and live with the final results. Please take this proposal seriously and don’t pull any last-minute tricks. Thank you!
This is a proposal to fund the Quant Team for the month of August (temporarily delayed due to the work related to the Ozone wallet) under the exact same terms as the month of July's proposal 11597 (
Hidden link
in all respects save for the amount of LUNC, which has been changed to reflect LUNC's lower exchange rate vs. USD.
Proposal update with progress update:
Total for this proposal (August 1-31): 318,217,979 LUNC ($20,000)
The project timeline spans two months, divided into the following milestones:
Enhancing the existing tool to accommodate the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.
Conducting modeling and simulations, capturing the algorithm's behavior and performance.
Analyzing simulation results, evaluating performance under various market scenarios, and identifying strengths and weaknesses.
Producing a comprehensive report with recommendations for the LUNC community.
Additionally, the Team will identify sources of "zombie USTC" to be burned and lead that process free of charge, as it has already done with the Risk Harbor Multisig's assets.
Deliverables
An enhanced tool capable of accurately simulating the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.
Simulation results and analysis report, evaluating the algorithm's performance in different market conditions.
Documentation of identified strengths and weaknesses, including risk assessment.
Rolling out the necessary infrastructure and tools for any future Repeg proposal or new stable algo testing / evaluation.
Vote YES if you support releasing 318,217,979 LUNC (20,000$) payment to the Quant Team for the 2nd month of work.
Vote NO if you do not support the release of these funds.