1/ What is Terra? 🧵
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2/ When I started in 2017, I was surprised to find that the crypto"currency" industry was mostly working on building 1) niche apps or 2) better servers (making Ethereum faster) and almost noone working on building better currencies
This is still true today
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3/ Terra's place in the wider crypto community can be pretty confusing - purely by accident, Terra is now:
- One of the largest smart contract platforms by TVL, usership and devs
- A decentralized stablecoin protocol sprawling across multiple chains
- A collection of DeFi apps
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4/ Accidents can be pretty successful:
Quote Tweet
TVL of @terra_money officially surpasses @0xPolygon to become the 3rd highest TVL Blockchain.
$LUNA #Terra #TVL
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5/ Traffic on a tear:
- 1 scrn Anchor Launch March 16-17th (less than 10M requests) vs a major DDoS attack on April 1st (400M requests)
- 150 days after that attack, we've breached 300M requests/day as our new baseline.
- We've surpassed 7 Billion requests over the last month.
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7/ At TFL, we have a singular mission:
Help make $UST the most decentralized and useful form of money there is
Everything else is merely a means to an end
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8/ This focus allows us to be collaborators rather than adversaries with the rest of the crypto community.
We don't compete with Ethereum, Solana or Avalanche - $UST adoption on any chain is just as valuable as on any of the others
We don't compete with DeFi or any other apps
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9/ We put boots on the ground to make sure $UST powered ecosystems win - facilitating the creation of bridges , allocating capital, and building crosschain apps
Whatever it takes.
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10/ Earlier this year, I tweeted that DeFi/crypto is at war.
As I see it, decentralizing the monetary layer of major blockchains (i.e. $UST) is the only way to make sure crypto remains free.
Back to work.
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