TerraCVita, the active independent developer team working toward the revitalization of the LUNC project, is edging closer to the launch of the anticipated Terra Classic decentralized exchange (DEX).
While the exact launch date remains to be disclosed, the team hinted earlier that LUNC community members should expect the decentralized marketplace between January 2023 and April 2023. This is part of the group’s Phase 1 plans, as well as the launch of a Terra Classic Hub V1.
Per a Wednesday update, TerraCVita has begun a discounted private sale of the Terra Classic DEX native token dubbed ‘TERRA’. It is said that ‘TERRA’ is a deflationary token that would power the LUNC DEX.
The motive behind the discounted private presale of TERRA is to reward all delegates that staked with the TerraCVita validator. Smart Stake Analytics showed that the TerraCVita validator has 1557 unique delegates, with a total stake of 11,686,899,554 LUNC, at press time.
The team wrote, “We have created a DEX+. The Dex is powered by a deflationary Token called ‘TERRA’, with rewards based on DEX traffic. To reward all the delegators who have staked with TerracVita Validator, we are inviting you to our discounted private sale.”
1/4 We have created a DEX+.
The Dex is powered by a deflationary Token called 'TERRA', with rewards based on DEX traffic.
To reward all the delegators who have staked with @TerracVita Validator we are inviting you to our discounted private sale.
Instructions here 🧵⬇️ https://t.co/q4UhKXsxDk
— TerraCVita (@TerracVita) January 10, 2023
The LUNC dev group further shared ways to participate in the private sale. “What you need to do to benefit from this fantastic opportunity is as simple as ABC: Join our discord, and in the validators channel for TerraCVita say you’re interested in ‘Terraport sale’. Ask for an Admin and then provide proof of delegations,” part of the thread read.
TerraCVita then pinpointed the official administrators, revealing the tag they hold. The 6 verified admins holding the tag “tcv-terraport-sale” include ToxicLabs, Classy’sSphere, Pholuna, Charlotte, Fragwuerdig, and Roy Monday.
This development comes shortly after TerraCVita announced the receipt of $1 million in funding for the decentralized finance (DeFi) project – Terraport – which includes the Terra Classic DEX. The team noted that profits from the DEX will either go to the community pool or the LUNC burn wallet.
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