Blockchain News- Terraport Launched the Terra Classic (LUNC) DeFi platform on March 31.
- In the initial stage, it will feature DEX with only a few functionalities.
Terraport launched the Terra Classic (LUNC) DeFi platform after several months of anticipation. The platform is built by the TerraCVitta development group. Terra classic offers LUNC-based Decentralised Exchange (DEX) and a launchpad for Terra Classic Ecosystem.
Terraport announced the launch of Terra Classic on its Twitter page on March 31. The Terra Classic launch comes after the arrest of Terra co-founder Do Kwon on march 23. The DEX functionalities are already activated as of press time.
The platform allows users to swap among their three tokens Terra Classic (LUNC), TerraClassicUSD (USD, and TERRA. It also offers the TERRA staking functionality with an Annual Percentage Rate (APR) ranging from 16%-60% depending on their lockup period.
Additionally, the platform allows users to add to the liquidity pool. Moreover, it will enable them to earn a portion of the fees generated on the trade made with the pair of assets. At its initial launch, TERRA will work on a few functionalities such as token swaps, liquidity provision, and staking. As a launchpad, it will poised to help bring to the projects of Terra Classic.
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Source: https://thenewscrypto.com/terraport-launches-its-defi-platform-amid-do-kwon-arrest/