Terra Collapse Archives - Cryptolifedigital

27Nov

By Daniel AbangNo Comments

Blockchain

Terraport Finance Announces $100,000 USTC Giveaway in Social Media Blitz

In a surprising move, Terraport Finance, a prominent player in the blockchain and decentralized finance (DeFi) space, has declared a massive $100,000 giveaway in the form of their native stablecoin, $USTC. The giveaway is set to take place over the next 48 hours and is aimed at rewarding their loyal community members. The announcement was made via the company's official Twitter account, where followers were instructed to participate by simply liking, retweeting, and ensuring they were following Terraport Finance. The move is not only an innovative marketing strategy but also an attempt to further engage and expand the project's community. (more…)

Terra Luna Classic Community Celebrates Landmark: Proposal 11710 Approved for Burning 800 Million USTC Tokens

In a resounding display of unity and conviction, the Terra Luna Classic community has achieved a pivotal milestone by passing Proposal 11710, signalling the official approval for the direct burning of a staggering 800 million USTC tokens. The proposal, spearheaded by Vegas and propelled by strong community support, carries profound implications for the Terra Luna Classic ecosystem. Amid recent market fluctuations that briefly dampened both LUNC and USTC prices with a roughly 10% decline, the resounding approval of Proposal 11710 has ushered in an immediate resurgence in their values. This accomplishment underscores the community's collective determination to shape the trajectory of their token's value and ecosystem. Read Also: ICRYPEX Expands Crypto Offering with 10 New Listings, Inc...

InsurAce To Compensate 155 Investors With $12 Million For Their Loss In The Recent Terra Crash

The DeFi insurance company insurAce is giving out $12 million to 155 investors out of 178 as a compensatory fund to subsidize their loss as a result of the May Terra collapse. As stated in the post InsurAce plans to compensate 155 investors a sum of $12 million as a result of the crash of Terra and its token in May. Read Also: Ripple's Partner, Tranglo, Expands Its Payment Solution To The UAE Terra May Collapse It is worth noting that the crash was initiated following the de-pegged from USD and plunged below the 1:1 ratio which also result in the fall of its token from over $100 to almost zero. The crash was so disheartening to the Terra ecosystem and the whole crypto sphere as the collapse affected them and the crypto is just recovering from it. However, the Te...