![]() ![]() ![]() ![]() Bitcoin was the largest portion of the reserve assets, though LFG also held reserves in various other stablecoins and cryptocurrencies. As of 7 May, just before UST broke its peg, LFG held reserves of 80,394 bitcoin worth approximately $2.4 billion. Terraform Labs allocated a portion of the money obtained from UST sales to Luna Foundation Guard, to be used as reserves to stabilise the price of UST. In January 2022, the Luna Foundation Guard (LFG) was established as a non-profit based in Singapore, with Do Kwon serving as its director. Terraform Labs raised more than $200 million from investment firms such as Arrington Capital, Coinbase Ventures, Galaxy Digital and Lightspeed Venture Partners. In 2019, Terraform Labs launched its first cryptocurrency token. In 2018, Do Kwon and Daniel Shin (also known as Shin Hyun-sung ) co-founded Terraform Labs in Seoul, South Korea. Mirror Protocol was another project based on the Terra chain, which designed and offered financial derivatives that virtually "mirrored" actual listed stocks. Due to such a high-yielding mechanism of the Anchor Protocol, some critics raised concerns that Kwon's stablecoin model could function like a "ginormous Ponzi scheme". Investors who deposited UST in the Anchor Protocol were receiving a 19.45% yield that was paid out from Terra's reserves. The Anchor Protocol was a lending and borrowing protocol built on the Terra chain. This method uses a two-token system, whereby one token is supposed to remain stable (UST) while the other token (LUNA) is meant to absorb volatility. dollars instead, it was designed to maintain its peg through a complex model called a "burn and mint equilibrium". Luna serves as the primary backing asset for Terra, and is also used as a governance token for users to vote on Terra community proposals. Terra is a group of algorithmic stablecoins, named according to the currencies to which they are pegged-for example, TerraUSD (UST) is pegged to the U.S. The Terra blockchain has a fully-functional ecosystem of decentralized applications (or DApps), such as Anchor, Mirror, and Pylon, which utilised the stable-coin infrastructure of Terra. Several stablecoins are built atop the Terra protocol, including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. For consensus the Terra blockchain uses a proof-of-stake codesign. Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. In May 2022, the Terra blockchain was temporarily halted after the collapse of the stablecoin TerraUSD (UST) and Luna, in an event that wiped out almost $45 billion in market capitalisation within a week. It is most known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. As I’ve journeyed around the globe, I’ve developed my own “system” for recording my various travel experiences.Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. Part of it involves my camera, part a travel journal and part my travel blog. I’m not saying it’s the best way to record the journey, it’s merely the way I do it. You will most certainly see and experience a destination different than I will. You will also have a different preference for how you want to remember it. ![]() Or maybe you’re like me and you prefer to sit alone with some awesome noise-cancelling headphones to write with pen to paper. Maybe you’d rather have everything digital and backed up to the cloud. There are so many different methods, which is why there are so many different kinds of travel journals. Don’t look at this list of the best travel journals and best travel journal apps and get overwhelmed.ĭetermine how you want to record your travels and then find the journal or app that fits your needs.įindPenguins is a beautiful travel app that automatically tracks your travels using a combination of your device’s GPS and artificial intelligence. The app then takes that information to create fun statistics about weather (the hottest place you’ve been), countries visited, distances traveled, etc. You fill in the gaps with what they call “Footprints”, which are essentially blog posts that allow you to attach videos, photos and more. Your travels can be kept private, shared with friends or made public. ![]()
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