The Terra Classic community is celebrating a significant security improvement with the upcoming launch of Terraport, a decentralized finance (DeFi) platform built on the Terra Classic blockchain.
According to a tweet by Rexyz, a network developer, Terraport has achieved an impressive 86.50% security score on pre-launch tables, placing it at 17th out of 380 projects. If Terraport maintains this score upon full launch, it would rank within the top 230 DeFi projects out of nearly 12,000 evaluated by Certik, a leading blockchain security firm.
Read Also: XRP Poised for Surge Above $13 on Complex Elliott Wave Pattern, Analyst Claims
🚨 Breaking 🚨
This is absolutely massive for $LUNA and $LUNC.🚀
With 86.50% this puts the terra Classic community on the security map with @_Terraport_ making it to 17 out of 380 on prelaunch tables. ❤️
Once fully launched if the platform can maintain that spot it will be top… https://t.co/t3GTqoWOJv pic.twitter.com/Y0Ynajy94b
— Rexyz (@RexYellerBelly) March 31, 2024
This news is a major win for Terra Classic, which currently sits below 50% on the same Certik criteria. A higher security score indicates a lower risk of hacks and exploits, making the platform more attractive to users and investors.
Read Also: Shiba Inu Burn Rate Soars But Price Dips
What is Terraport?
Terraport is an autonomous DeFi platform designed to provide a range of financial services to the Terra Classic community. It aims to offer features like:
- Decentralized trading: Users can trade cryptocurrencies in a secure and permissionless environment.
- Staking and earning: Users can earn rewards by staking their $TERRA tokens, the platform’s native token.
- $LUNC burning: Terraport is designed to burn $LUNC tokens, the native token of Terra Classic, which could help stabilize its price.
Why is this important?
The launch of Terraport and its strong security score represent a significant step forward for the Terra Classic ecosystem. With enhanced security, Terraport could attract more users and developers, leading to increased adoption and potentially boosting the value of $LUNA and $LUNC tokens.
It’s important to note:
- Terraport is currently under maintenance for upgrades, so some services may be limited.
- The long-term impact of Terraport on the Terra Classic ecosystem remains to be seen.
This development brings a wave of optimism to the Terra Classic community, and many are excited to see the potential of Terraport upon its full launch.