Terraform Labs’ CEO Chris Amani Announces Game-Changing Infrastructure Support for Cosmos Ecosystem
In a groundbreaking move, Terraform Labs’ newly-appointed CEO, Chris Amani, has unveiled a visionary plan to provide crucial infrastructure support to the Cosmos community. This initiative aims to significantly reduce the infrastructure costs associated with running various chains on the Cosmos network, sparking tremendous excitement within the Cosmos ecosystem.
Foundation’s Business Model to Support All Cosmos Chains
Under this innovative proposal, the Foundation’s business model is willing to undertake the responsibility of running the infrastructure for all chains within the Cosmos network. This strategic move seeks to alleviate the massive costs and technical complexities associated with maintaining a robust and efficient infrastructure for Cosmos chains.
$LUNC army now THIS is bullish news! #LUNA ceo @fleece_cannon announces their Foundation business model would be willing to run the infrastructure for all chains on #Cosmos including #LunaClassic. If we are interested we need to reach out to @mc_ust. 💎🤲🏻 #Crypto $LUNA https://t.co/byQztH16P9
— Mr. Diamondhandz1💎 (@MrDiamondhandz1) October 30, 2023
The announcement has caused a surge in the prices of tokens within the Cosmos ecosystem, reflecting widespread optimism about this transformative development. Cosmos ecosystem tokens, including ATOM, JUNO, OSMO, and EVMOS, experienced substantial price increases following Chris Amani’s revelation.
Empowering Terra Luna Classic Community and Beyond
Notably, the Terra Luna Classic community has seized this opportunity to engage with LUNC developers and leverage the Foundation’s offer to reduce unnecessary infrastructure costs. This move demonstrates the proactive and collaborative spirit of the Terra Luna Classic community, as they seek to optimize their operations and reduce expenses.
Foundation’s Infrastructure Support Model
Chris Amani shed light on the Foundation’s infrastructure support model, revealing that it is free for all applications launching on Terra. Moreover, Terraform Labs is prepared to extend this support to entire chains operating on Cosmos, presenting an unprecedented opportunity for chains, including those ending with the word “Classic.”
A key feature of the proposed model is that teams seeking infrastructure support would pay for these services by implementing an alliance and directing a negotiated amount of inflation to LUNA, Terra Luna’s native cryptocurrency. This approach aims to create a sustainable and mutually beneficial ecosystem where infrastructure costs are covered while supporting the growth and stability of LUNA.
Market Response
The market reacted swiftly to this game-changing announcement, with various tokens in the Cosmos ecosystem experiencing significant price surges. ATOM saw an 8% increase in its value within 24 hours, reaching $8.13, while JUNO skyrocketed by an impressive 142% to $0.66. OSMO also rose by 25% within 24 hours, now quoted at $0.391, and EVMOS gained 28% traction, reaching $0.071 in a relatively small market.
However, Terra Luna Classic (LUNC) experienced a modest 3% decline in the past 24 hours, tempering the gains from the previous week, which had reached nearly 7%. The 24-hour trading range for LUNC was observed between $0.0000635 and $0.0000664, highlighting the dynamic nature of the cryptocurrency market.
Promising Future for Cosmos
The visionary infrastructure support plan unveiled by Terraform Labs represents a significant step forward in advancing the Cosmos ecosystem. As the Foundation takes on the responsibility of managing infrastructure, chains and applications within the Cosmos network can focus on its core operations, fostering growth, innovation, and cost-efficiency. With prices of Cosmos ecosystem tokens on the rise, the future appears promising, as the community anticipates the positive impact of this transformative initiative.
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