A Terra independent development group has now raised $3 million with its focus on building projects around DeFi.
The development generated excitement around the LUNC community, but investor perception of the token was disheartening.
Recent actions by the Terra community indicated that it was more concerned about Terra classic [LUNC]and has completely left the collapse of LUNA behind.
This conclusion was a result of TerraCVita’s January 16 announcement.
We are pleased to have invested over $2 million from recent Terraport sales that were primarily reserved for delegators in;@TerracVita @LUNC_Italia
We are looking forward to 2 public sales in the next 5 weeks.
Thank you everyone for your support and trust in us.❤ pic.twitter.com/HSI3ikDm5C— TerraCVita (@TerracVita) January 16, 2023
Read Terra Classics [LUNC] Price prediction 2023-24
A journey has already begun
The money raised would be pushed to the proposed Terraport. Terraport is a project proposed by the Independent Development Department to advance Terra’s commitment to DeFi and also build a LUNC Decentralized Exchange (DEX).
In November 2022, the group had said a dApp would be launched for that purpose. In addition, TerraCVita, which now oversees the Terra Classic station, had previously raised $1 million.
It was noteworthy to mention that two communities were actively involved in the project: TerraCVita and the Italian LUNC community. However, this was evident from information from Smartk Stake Analytics Terra CVita had a higher voting right than LUNC community ITALY.
Despite the development, LUNC had been unable to match the greens recorded by crypto market counterparts. At the time of writing, the token slightly increased its 24-hour value by 1.32%.
On the positive side was the community’s dedication reflected in its on-chain status. According to Santiment data, LUNC’s development activity was extremely high at 15.81.
Source: Sentiment
The simplification of the chart above indicates that the Terra community took its proposal seriously and could release new features soon.
Realistic or not, here it is The market cap of LUNC in terms of BTC
Looking forward to the future, but…
Comments from the funding announcement showed that much of the community was excited about the project and looking forward to the Terraport white paper. Rexyzpointing out that Binance CEO, CZ and former LUNA founder, Do Kwon would be proud of this achievement, the vocal Terra community member said:
“More than $2 million investment in a bear market after our crash shows that LUNC & TerraClassic are definitely open for business and that there is confidence in us. Financing for the LUNC & TERRA oven is underway.”
However, the LUNC community has been ineffective in relaying his excitement through social networks. At the time of writing, the positive sentiment was 14,095. Although it was higher than the negative which was 8,905. The position implied that there was no significant increased search for LUNC, nor was there any significant fiery aura surrounding the cryptocurrency.
Source: Sentiment
This post Terra adds $2 million to DeFi mission, but LUNC holds back…
was published first on https://ambcrypto.com/terra-adds-2m-towards-the-defi-mission-but-lunc-holds-back-in/
