What is Terraport?
What is Terraport (TERRA)?
Terraport is an autonomous decentralised finance (DeFi) platform implemented through smart contracts on the Terra Classic blockchain. It is designed around a circular economy model capable of sustaining itself indefinitely. The platform is powered by its native deflationary token, $TERRA, which facilitates access to various platform features. Terraport aims to enhance utility within the Terra Classic ecosystem and to make DeFi accessible to everyone. Users can trade assets, participate in funding new projects, and engage in entertainment activities while contributing to the automated burning of $LUNC through governance.
What is Terraport (TERRA) used for?
Terraport provides a suite of DeFi services including swapping, liquidity provision, farming, staking, a launchpad, governance, and treasury management. It uses an Automated Market Maker (AMM) protocol for on-chain exchanges of Terra Classic ecosystem assets. Users can trade directly from their DeFi wallets without registration or KYC verification, maintaining full ownership of their cryptocurrencies. Users can become liquidity providers by depositing funds into liquidity pools, earning LP tokens and a share of transaction fees. By staking LP tokens, users can farm $TERRA and earn rewards. Users can lock their $TERRA tokens for predetermined periods to earn amplified annual percentage rates (APRs). The launchpad feature allows developers to raise funds for new projects on the Terra Classic network. Projects are approved through governance voting. The platform is managed by the Terra DAO, where $TERRA holders can propose and vote on changes and new projects. The treasury funds various activities, including buyback and burn operations for $LUNC and $TERRA, staking rewards, and governance funding.
