1/ TFL is announcing Project Dawn, a new funding initiative for critical infrastructure improvements and core technologies to supplement the accelerating growth of the Terra ecosystem.
Details:
Conversation
2/ Terra’s meteoric growth in 2021 has been thrilling. Eye-popping metrics from swelling TVL to social engagement have become characteristic of the rapidly growing ecosystem, supported by an amazing community of #LUNAtics.
4
4
232
3/ However, the staggering growth rate has highlighted the need for both core technologies and infrastructure in the Terra ecosystem to scale in line with the exploding ecosystem.
1
1
179
4/ Degraded user experience during market turbulence (Anchor, Pylon and TWD launches) has shown that a lot of work remains to be done to bring the Terra financial infrastructure to maturity.
And so we shall.
2
6
238
5/ We're funding Dawn with a starting capital commitment of $150M (5M Luna), and with that money we will do three things:
1. Build a core cosmos contributor org
2. Invest in the ecosystem's node infrastructure
3. Diversify validator / oracle infrastructure
7
39
347
6/ First, we will build out an engineering team within TFL to contribute to core technologies animating the Terra blockchain: Cosmos SDK, Tendermint and CosmWasm.
This initiative will add much needed firepower to Cosmos core tech development.
6
16
253
7/ We expect this team to be one of the major contributors to Cosmos technologies along with the genesis core teams at and .
We further invite other projects building on Tendermint & Cosmos to step up in contributions.
2
8
242
8/ Second, we will be working with several industry leading infrastructure partners to further diversify the ecosystem’s node infrastructure.
It is imperative that community and TFL application services running on the Terra chain rely on diversified infrastructures.
5
2
179
9/ Third, we will work to diversify validator and oracle infrastructure.
Heavy reliance of our validator set on AWS poses an unacceptable reliance on centralized service providers. Dawn will lower the costs for validators to self-host nodes or non-cloud datacenters.
21
13
230
10/ Further to Project dawn, TFL is committing to unlock at most 3 million Luna per month for all operating costs with details around each unlock transparently relayed to the community.
We believe this will result in much more predictability of Luna token emissions.
Replying to
11/ In particular, further announcements around infrastructure improvements, through the prism of both robustness and decentralization, will be released throughout Q4.
3
2
159
This Tweet was deleted by the Tweet author. Learn more
They're a business, it's how they fund operations. They've already said the balance of Luna TFL holds when they're done their work will be burned. Stop looking at the short term and focus on long term.
2
Show replies
Show replies
Replying to
Curious to know if the LUNA unlocks will be sold into the market or simply fresh UST will be minted against resulting in LUNA burns ? Two very different scenarios :) Thanks
3
