Terra Money ICO Report – Powering the Innovation of Money
Standard ICO Report Structure:
- Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
- Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
- Part 3: Useful Links (Further Research)
Part 1: ICO Analysis
The internet has vastly changed over the last decade as the introduction of bitcoin led to the boom in digital assets. With the creation of cryptocurrencies, we have seen a plethora of amateur and professional traders alike flock to the nascent sector which has a ton of advantages of traditional markets. These advantages of cryptocurrency markets include facts such as the markets never sleep, trading fees are often less, the barriers to entry are smaller, and the upside is often speculated as far larger than traditional stocks.
With traders, the main goal is profits and sometimes the volatile cryptocurrency market can be dangerous though. A market that never sleeps can have its downside for traders. For this reason, we have seen a rise in stable coins which seek to offer consumers the chance to have a digital asset which will stay equal to a dollar. The team behind Terra.money plans to deploy a new stable coin into the market. With this in mind, let us dive in and take a deeper look.
The Terra Solution
Terra plans to implement a two token solution to help stabilize the Terra assets. This will include Luna and Terra tokens. The Luna will represent mining power within the network and help stabilize the Terra to be pegged to a standard asset. These two assets will work together through a complicated algorithm described in their white paper. The system will operate with a proof-of-stake model to incentivize users to hold their Terra rather than constantly spending it.
This alone should help with the stabilization of the price but along with their price control measures issued through the second token, it should be easy for the Terra vision to become a reality.
Stability Well Planned
Terra’s main goal as aforementioned will be to create a stable coin. Through this process, their team has identified a key objective of spurring adoption for their new stable coin. With this in mind, the team plans to launch the platform with an alliance of commerce platforms, who have $25 billion in annual sales volume.
Through this commerce platform alliance, the platform should be poised for great success from the start. The team hopes that through their market entry timing, they will be able to capitalize upon the coming changes they see in the financial markets. Through this, they hope to set the stage for financial disruption.
To complete this particular goal, the Terra platform will be equipped with an open network of disruptive financial dApps. The aim of which will be to deploy financial solutions which help grow the real GDP of the blockchain economy. All and all, the team seems poised success with the launch of their Terra stable coin alongside these supporting initiatives.
A Stable Terra Protocol
Terra also helps traders seeking to secure their profits in a more stable environment than most cryptocurrencies can offer. To make this possible the team will issue a protocol of money that will help ensure price-stability on the network through changes to the token’s supply.
Furthermore, the company advertises “Terra’s Stability Reserve [to make] a decentralized guarantee of solvency, protecting it from the speculative and regulatory risks that other currencies are exposed to.” Again, the Terra stable coin will be backed by Luna, a separate asset which will derive its value from transaction fees collected on the Terra network. The Luna asset gets its name from the concept of how the moon stabilizes the earth’s rotation.
Part 2: Crowdsale Analysis – Details & Token Supply
Total token supply: 1,000,000,000 Luna Tokens
Token type: Proof-of-Stake Stable Token
Phase: Platform Development
Token Price: 1 TerraUSD = 1 USD
Team Overview- Members and Advisers
The ThriveLabs team is led by Daniel Shin, with Do Kwon, Nicholas Platias, Evan Kereiakes, Don Kim, Gigi Kwon, and Marco Di Maggio also on the team
Part 3: Useful Links (Further Research)