Summary:
Add Terra Blockchain to Curve ecosystem.
Abstract:
Primary use of Terra is Stablecoins; this is Curve’s relative strength and provides a unique opportunity for veCRV holders. The TVL of Terra has seen rapid growth (second only to Ethereum) and Curve can seize this opportunity to be a dominant protocol there.
Motivation:
Primary purpose of Terra is stablecoin use. This seems like an ideal place for Curve to excel at what it’s best at. I am not here to shill Terra. I just discovered it recently (maybe I’m out of touch, or a borderline ETH maxi), but the purpose of the blockchain seems to align with Curve’s strength (stablecoins). On Defi Llama, the Terra Blockchain is second in TVL only to Ethereum with a TVL of ~$18B (That’s more than Fantom and Solana combined!) If I understand correctly, this presents an opportunity for veCRV holders to collect additional fees and would serve the people using the Terra blockchain by providing Curve’s services to them.
Specification:
For:
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More fees for veCRV holders.
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If Terra Blockchain is highly successful without Curve, or an authorized fork of Curve, a formidable Curve competitor could emerge which could bridge to other networks and adversely affect existing fees.
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According to Terra’s own reporting, over 2 million people use their services across multiple countries; these people would benefit from Curve’s highly efficient trading mechanism.
Against:
- Any new work will take resources and time away from other potential upgrades, enhancements, etc.
- If the authorized fork on Terra fails, it could adversely affect overall reputation of Curve
Poll:
Post a link to your proposal if it’s already been created