With the public beta launch of Terraport in sight, a notable member of the project’s development team Rex Harrison has detailed the many ways the upcoming Terra Classic layer-2 decentralized finance (DeFi) project would be beneficial to LUNC.
According to Harrison, Terraport is designed to satisfy many purposes and utilities including serving as a LUNC burner, a decentralized crypto exchange (DEX), and a launchpad.
As a DEX, he noted that Terraport would contribute to the growth of Terra Classic by introducing several trading pairs for LUNC. By opening up new markets for the asset, more investors may be attracted to LUNC thereby causing a spike in its market capitalization and price per coin.
Rexyz wrote, “How will Terraport help LUNC? It’s a crypto exchange and a launchpad and more. It will create lots of trading pairs with LUNC making it easy for people to buy and sell LUNC and dApp tokens.”
More so, he reiterated that Terraport would not just serve as a crypto marketplace but would serve as a LUNC furnace. The senior member of TerraCVita confirmed that the Terraport team would copy Binance by converting part of its acquired trading fees to LUNC and burning them.
While a portion of the fees would go for TERRA burning, some percentage would be used to incentivize stakers of the Terraport native token — TERRA.
“All exchanges charge fees, instead of Terraport keeping it all, the fees earned will be used by Terraport to burn LUNC, burn TERRA, provide staking rewards to TERRA stakers,” he wrote.
Recall that Edward Kim, a top developer in the LUNC L1 Task Force is on the course of launching the public beta of an AI-based app chain utility for LUNC. Rexyz added that fees from the Terraport DEX would also be used to fund other projects that seek to boost LUNC’s growth and development such as Kim’s new project.
Furthermore, Rex Harrison explored how Terraport’s Launchpad utility would help LUNC to grow. As stated by him, the launchpad would help projects coming to LUNC to raise funds for development, create Terra Classic-based layer-2 tokens, as well as enhance the effective marketing of their projects.
Notably, Rexyz had earlier revealed Terraport’s ultimate goal for LUNC while the project team disclosed how Terraport intends to burn billions of LUNC tokens weekly after its confirmed launch date.
Follow us on Twitter, Facebook, Telegram, and Google News
