TerraCVita has successfully raised a whopping 1 million dollars for a decentralized finance (DeFi) project named Terraport, which includes the Terra Classic community DEX.
The independent LUNC development group reported via a Monday tweet, an outcome that greatly excited members of the Terra Classic community. According to TerraCVita, they were able to get their target funding for the Terraport DeFi project in their first presale.
Terraport is one of the team’s innovations to contribute to the revitalization of the embattled LUNC token and it is said to come along with the anticipated Terra Classic decentralized exchange.
“It was reported a few days ago that a project on TerraClassic received a massive $1m in funding. We over the LUNC moon to say TerraCVita achieved our target funding in our first Private Sale for our new defi platform ‘Terraport’ which includes the new Terra Community DEX,” the announcement read.
Read Also: Top LUNC Dev Submits Proposal for No Canonical Repo on Terra Classic
Notably, it was the Terra Casino Twitter handle that first reported about this presale funding in late December 2022 but was unclear with the details. “We are not sure of the details yet but our Terra Chita partners have heard news that a project on Terra Classic has just raised $1m in presale funding,” Terra Casino wrote on December 31st.
While Terra Rebels, a competing independent Terra Classic development team has been slammed by the community over the misuse of the $150,000 allocated for the Rebel Station building, TerraCVita has been up and doing to boost the LUNC ecosystem.
Besides launching the Terra Casino project that supports LUNC burning, TerraCVita is in the process of also onboarding a decentralized marketplace powered by Terra Classic (LUNC). According to the team, community members should expect the Terra Classic DEX between January 2023 and April 2023.
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