The wait is now over, Terraport is about to be operational again. We appreciate your patience and are working around the clock to deliver a first class application that includes far more functionality than V1 and we hope you’ll feel at home using it. What happens now? Below is the current state of progress and next steps.
Progress
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The team is currently in the final phase of testing the platform in testnet with governance as contracts admin.
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The team has added 3 new sections to the platform: Governance, Analytics and Developers.
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The team have successfully sorted all the Certik’s findings and have already submitted the governance contract as the last thing to check.
Governance
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The preparation of this feature caused a few days delay, however we are sure you will appreciate this update even if you have to wait a little longer. Security first.
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Through Governance, users will be able to independently manage the entire platform.
Analytics
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The Analytics section is created for the entire TerraClassic community and not only for the TERRA token, with it the users can check many data like LUNC/USTC/TERRA:
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burn,
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real time price,
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total supply,
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staked supply and many more.
Analytics specific for Terraport will enable users to track:
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TVL,
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real time burn from every transaction,
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real time volumes of exchange,
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liquidity of the pools,
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real time apr for liquidity providers and many more!
With this feature the TerraClassic users can exchange assets, earn passive income and check onchain data, all in one place.
Developers (Token Factory)
- The developers section is the first step to onroad projects on TerraClassic through the Terraport platform. With it project owners from every network can build tokens and list them on Terraport ‘swap’ without any code skill and for free.
We think that this feature can attract liquidity for the platform and utilities for the entire network.
Security
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As you’ll be aware the team is the only team on LUNC with Certik KYC accreditation which is shortly due for review which we are looking forward to, and currently have ‘Silver’ status.
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Our bounty rating on Certik is still improving and your votes really do make a difference to the project.
Replacing Stolen User funds
Terraport V1 was extremely successful in attracting users and the prelaunch strategy attracted many investors, many of whom went on to provide liquidity. The upside to this is the platform was very stable, the down side was that liquidity provided was beyond the ability of the team to directly replace if stolen. It is this strength we are hoping to build on and use to enable Terraport to make investors whole.
- Plans are being finalised to drive the recovery of TERRA and return value to affected liquidity providers who lost out in the theft. We anticipate the end plan will not satisfy everyone but it fully refund all the liquidity providers in a reasonable time. We wish to finely balance our actions to provide as much stability to Terraport as possible as we believe it was this approach which enabled the previous price movement and more importantly stability in price to be achieved which is paramount to the long term success of the project and to protect user funds. Terraport was never intended to be a short term project but intended to atleast be competitive for 5 years, and to provide a stable platform for other builders to find liquidity and launch successful long term projects giving the community investment opportunities and of course drive trading to drive burning of (and/or) LUNC / TERRA / USTC.
As a taster we will shortly provide some screen shot samples of what you can look forward to enjoy using if you wish to support Terraport help LUNC recover.
Your Safety.
NB: Remember before investing in anything: do your own research (DYOR), past performance is not a guide to the future and investments can go up and down. Never invest more than you can afford to lose.