Terra Developers 4-Year Plan for LUNA

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arlier this week, Terra's developers proposed a new idea to try and save the network from its current state, even though one of the co-founders, Do Kwon, is wanted by the police.

A liquidity mining incentive scheme proposing the distribution of 50 million LUNA tokens over four years has been suggested to fund the initial liquidity of decentralized exchanges, stablecoins, bridges and other similar protocols built on Terra.

The "Terra Expedition" is an updated form of the developer mining program and developer alignment program that were set up during Terra network's inauguration.

The new program would be funded with 9.5% of the total supply of LUNA tokens that was earmarked at the launch of a new Terra blockchain. (Terra's original network and its two related digital tokens imploded in May, leading to the creation of a new blockchain earlier this year.)

A proposed liquidity mining incentive scheme would distribute 50 million LUNA tokens over four years to fund the initial liquidity of decentralized exchanges, stablecoins, bridges and other similar protocols built on Terra.

To incentivize users to use bridges and decentralized applications on the network, as well as mint non-fungible tokens (NFT) on the platform, developers have proposed allocating five million LUNA.

Following the May implosion of Terra and its LUNA and UST tokens, applications related to Terra lost $28 billion in value. As of this writing, there is only $40 million locked across seven protocols.

Mike

An editor at Coincrop

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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.