In the weeks since Terraform Labs CEO Do Kwon first revealed plans for Terra blockchain to accumulate $10 billion worth of Bitcoin to back its UST stablecoin, the strategy has put the network squarely in the spotlight. With the ambitious plans already being executed, the blockchain’s native LUNA token has climbed the rankings to reach the 6th most valuable cryptocurrency by market capitalization. Now at over $30 billion and counting of total value locked (TVL) within decentralized finance (DeFi) protocols atop the Terra blockchain, Terraform Labs has teamed up with LongHash Ventures to encourage ecosystem development and advance related Web3 projects through LongHash’s accelerator program.
