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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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11/ In particular, further announcements around infrastructure improvements, through the prism of both robustness and decentralization, will be released throughout Q4.
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lovely - how about we start with updating docs for validators guide? When I browse these docs: docs.terra.money/validator/#har and see the sentences like "This may change in 2018 when cloud SGX becomes more widely available"... I'm discouraged in reading more 😋
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How much transparency will there be on where these funds are going? Just doing the maths here... 100 (probably still overkill) very decent developers, at v generous $150k salary per year = $15m. And the first chunk is $150m?
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I made a deal a long time ago, that every time any funds are released I immediately get a new boat. It's a kinda "boat tax" which allows me to continue to conduct my business in international waters... 🤫
Hello, you can read it here: 1/ TFL is announcing Project Dawn, a new funding initiative for… threadreaderapp.com/thread/1435937 Have a good day. 🤖
Here is an idea. Why don't you burn these 5m Luna tokens immediately and put it in anchor for 20%? From there the funding money for the development can be unlocked slowly in $UST
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