Rex has been releasing seasonal updates concerning the LUNC and its blockchain frequently, he recently tweeted about, noting what the long-awaited Terraport will do to the community as a whole.
Rez Harrison said that Terraport would help introduce investments into LUNC and concurrently expedite token burns.
The prominent Terra Classic community member outlined these objectives in an elaborate tweet yesterday. He disclosed that the primary objective of Terraport is to attract investments into LUNC by introducing a decentralized exchange (DEX) that will allow investors to swap other tokens to LUNC easily. The DEX will do this by creating appropriate trading pairs.
Benefits Of Terraport To LUNC: Rex
He further mentioned that the Terraport is to provide liquidity for the decentralized exchange for the reason that DEX will only function supplied that there is liquidity.
“for a DEX to work, it requires liquidity.”
Harrison also stated that putting all on the community funding of oracle could result in dissatisfaction among those who do not support the project, potentially leading to failure and undermining efforts. The approach gives investors the freedom to choose whether to be part of the project.
He further mentions another good about the Terraport, saying that the project is coming to lessen the risk on the Terra Classic Oracle Pool, as several proponents remain uncomfortable with that. The LUNC and USTC holdings of the Pool currently have a combined value of £740.6M.
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He conclusively says that creating an inflammatory token and sharing profits from DEX will eventually reward those who provide financial support.
Being a Crypto Collectible Standard 20 (CW20) token, TERRA is built on Terra Classic and developed in-house, making it a self-grown project. CW20 is a token standard on Terra.
There has been some positive movement since the LUNC network planned to build some projects. The success of Terraport and Terra Casino will demonstrate to the broader cryptocurrency community the potential of building on Terra Classic, which is essential for the network’s future success.
Rex has been so much into LUNC over time, in yesterday’s news, one of the lead members of an independent Terra Classic development group, Rex Harrison, highlighted seven risks facing the LUNC blockchain.