The team is thrilled to be releasing Mirror Protocol this month and has been astounded by the way community governance has assumed control of the protocol’s future. While there has been a lot to celebrate in the last month, and there will be even more in the months ahead, the team would want to commemorate Terra’s achievements throughout 2020.
Terra overtook Bitcoin and Ethereum as the most fee-generating blockchain in 2020. Terra’s investor base has grown to include Pantera Capital, Galaxy Digital, and others. Terra also deployed the Columbus-3 and Columbus-4 mainnet upgrades, adding smart contract support.
CHAI broke records for transaction volumes and tax rewards in November. Consequently, it surpasses 2 MILLION users and became the most active dapp, according to sites like dapp.com. CHAI launched the CHAI Card. This is also compatible with Samsung Pay and has raised $60 million in its most recent round of funding. Finally, during the first three weeks of its inception, Mirror had amassed over 100 million TVL. Mirror now has a Shuttle bridge to Ethereum and wants to expand mAsset liquidity to a number of more blockchains in the near future.
Updates from CHAI
In a Series B round headed by Hanhwa Investment & Securities and supported by Softbank Ventures Asia, SK Networks, Aarden Partners, and other strategic investors, CHAI raised $60 million. The investment brings CHAI’s total funding in 2020 to $75 million, following a $15 million Series A in February, and marks a significant new chapter for Chai as it tries to deliver a unique set of digital payment solutions to APAC.
CHAI has acquired leading payments aggregator I’mport, which serves 1700 merchants in Korea and processes $3 billion in annual transactions, allowing e-commerce businesses to easily integrate over 20 payment methods, such as debit and credit cards via local payment gateways, digital wallets, and PayPal, to name a few. Chai’s development into overseas markets and integration with its existing, broader merchant network will be accelerated by I’mport.
In addition, CHAI’s integration with Samsung Pay makes the CHAI Card even more convenient than before. Thus, users can now use their CHAI Card with just their smartphone.
Launch of the Mirror
Terra is ecstatic to be the first decentralized system to provide price exposure to US stocks with the introduction of Mirror Protocol, which has locked in a total value of over $120 million (Terra-side and ETH-side). The community’s response has been overwhelmingly positive. Since Mirror governance went live, the community has proposed over 40 governance polls. These truly includes Nike, Airbnb, Galaxy Digital, and Spotify, the majority of which appear to be likely to pass.
The Release of the Mirror Wallet
Mirror Wallet, a fully non-custodial wallet by ATQ Capital, delivers the experience of decentralized stock trading to mobile devices. Certain features compare to Robinhood’s trading experience; however, Mirror decentralizes and is internationally accessible. Others have suggested that Mirror has enormous promise in democratizing access to synthetic assets. These are at the forefront of financial engineering.
Buzlink’s Public Service Announcement
Buzlink, a marketing platform that creates viral incentives to increase referrals, launched its first promotional campaign this month. Buzlink solves the one-sided nature of the traditional referral model. This is of course by building referral links via Terra blockchain smart contracts and sharing benefits to all participants in the referral flow. To address the problem of the traditional lack of transparency, Buzlink uses blockchain’s immutable tracking capabilities to visualize the flow of referrals at every stage. Therefore, it results in a built-in system of trust and transparency. Keep an eye out for Buzlink’s formal launch in February 2021!
It’s been an incredible year, and the crew would like to express their gratitude to the incredible Terran and Lunatic communities for their support! So, congrats on all of the 2021 achievements! It’s all uphill from here.
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