The Terraform Labs team is ecstatic to announce the launch of a series of grants which will bring improvements in the ecosystem tools and products and along with that, provide an overall better environment for Terra community members. The team has decided to begin with the Grant Program by rolling out four Request For Proposal (RFP) along with an open community suggestion form.
Announcing the @terra_money grant program! I’ve found that one of the most exciting properties of working in blockchain is open collaboration transcending formal corporate and contractual relationships. Looking forward to working with developers the world over! https://t.co/nlEaLM9ewA
— Do Kwon (@d0h0k1) March 17, 2020
The first two RFPs are related to a new type of staking product, which is called ‘Anchor,’ which requires a new imitative token and a lending pool. Since Luna is volatile in nature and its price keeps fluctuating, the users are not staking in Luna even after getting high returns from it.
To combat this issue, Terraform Labs are ideating to design a solution where the initial deposit principal is safeguarded.
The third RFP is for reducing the time to resync a node while data corruption through the utilization of data backup service.
The next RFP is concerned with reducing the time to resync a node in the event of data corruption through the utilization of a data backup service.
Terraform Labs is looking for a vigorous, distributed availability layer for providing access to Terra blockchain handled by the Terra community. Terra community focuses on providing users with Terra blockchain that helps them to think with use case perspective rather than focusing on infrastructure.
The suggestions provided by Terra community members in our Discord server or Twitter community often help the Terra team with intuitive advice. The Terra team is of the belief that in order to encourage the use case, the community should focus at the forefront. Thus, the Terra team is providing an open RFP, which enables the community members to provide suggestions to the team.
Terra is a blockchain payment network, that upgraded from the traditional payments system with a single layer of blockchain. It is powered by a network of stablecoins, which are price-stable digital currencies pegged to major currencies in the world. The stablecoins are backed by Luna, which is a staking token that powers Terra’s Delegated Proof-of-Stake blockchain.