Monday, December 5, 2022
HomeCrypto NewsMarketTerra Station To Support Other Cosmos Blockchains Including Terra Classic

Terra Station To Support Other Cosmos Blockchains Including Terra Classic

- Advertisement -


Do Kwon Reaffirms Terra Station Support For Terra Classic.

Do Kwon confirms support for Terra Classic (LUNC) as he works to onboard other Cosmos chains.

Do Kwon has made his intention to offer Terra Station support to other Cosmos blockchains known in a tweet on Sunday.

Consequently, the embattled Terra founder requested direct messages from interested core development teams in the ecosystem. The service will be free per a follow-up tweet.

Notably, Kwon confirmed that Terra Luna Classic (LUNC) and the Terra Classic network would remain supported as Terra Station transitions into an interchain wallet for the Cosmos ecosystem.

“Yes, yes, LUNC supported,” Kwon tweeted.

Unsurprisingly, the development has been met with mixed responses. While some have celebrated the continued support from Terraform Labs, others have pointed out that they still do not trust the Terra founder.

As noted by a user, the multi-chain integration with Terra Station appears to be the first step for Do Kwon’s “Interchain Alliance.” Notably, Do Kwon has proposed three solutions to ensure the sustainability of smaller Cosmos chains:

  • Interchain AllianceĀ 
  • FeatherĀ 
  • Interchain Station & FinderĀ 

Alliance aims to strengthen the economic security of smaller chains by leveraging the users and assets of more established chains. The idea is relevant as more decentralized apps opt to build their chains but fail due to the difficulties of building and running a blockchain or a perceived lack of economic viability.

Notably, the Alliance developer’s kit will allow assets from established chains to be staked on a newer chain. Consequently, the new blockchain offers users of established blockchains an avenue to get greater yield in exchange for economic security.

The Interchain integration on Terra Station will likely allow seamless governance and staking experience across these chains.

On the other hand, Feather promises to make blockchain deployment as easy as a feather when it launches.

While it appears to be a practical approach to increase interoperability amongst Cosmos chains and support smaller chains, like many in the LUNC community, members of the Cosmos ecosystem are skeptical.

Akash Network founder Greg Osuri expressed the sentiment that he is not yet willing to forgive the damage Do Kwon’s failed stablecoin did to the Cosmos ecosystem.

Despite these concerns, others have highlighted that Terra Station is probably the best wallet in the Cosmos ecosystem. The wallet notably received high praise from respected Cosmos developer Joecob Gadikian, who lauded the user-friendliness and the underlying code.

It bears mentioning that the proposed multi-chain integration puts Terra Station in direct competition with Keplr, an interchain Cosmos wallet. While Do Kwon is offering free integration, a user pointed out that Keplr may be charging as high as $400k for integration. The Crypto Basic is yet to confirm this, but a previous outburst by the Kujira team disclosed the price was $360k.

The Terra Classic community has continued to use the Terraform Labs-controlled wallet despite taking over the reins of the chain. But the Terra Rebels have hinted at working on a Terra Station alternative called “Rebel Station” should the need arise to become completely independent of TFL infrastructure.

- Advertisement -
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.