The launch of the Terra Classic DEX is fast approaching.
Terra Classic independent development group TerraCVita in a tweet today, announced the launch of a discounted private sale of its decentralized exchange token called “TERRA” to community members that delegate their tokens with its validator.
1/4 We have created a DEX+.
The Dex is powered by a deflationary Token called 'TERRA', with rewards based on DEX traffic.
To reward all the delegators who have staked with @TerracVita Validator we are inviting you to our discounted private sale.
Instructions here 🧵⬇️ https://t.co/q4UhKXsxDk
— TerraCVita (@TerracVita) January 10, 2023
It follows up on the group’s announcement on Monday that it had raised $1 million in a private sale for its decentralized finance project Terraport. As reported by The Crypto Basic yesterday, this also includes the long-anticipated Terra Classic DEX.
TerraCVita delegators can participate in the discounted private sale in 3 simple steps, per the tweet from the group today:
- Delegates must join the TerraCVita Discord and make their interest to participate in the “Terraport Sale” known in the “VALIDATORS” channel.
- Delegators should request an “Admin.”
- They should provide proof of delegation with TerraCVita as required by the admin.
Consequently, the group shared a list of seven admins with the tags “Admin,” “tcv-terraport-sale,” and “Mod,” who will be involved in helping users participate in the sale.
Per data from Smart Stake Analytics, the TerraCVita validator has 11.5 billion Terra Luna Classic (LUNC) staked, a percentage voting power of 1.34% from 1,512 unique delegates. It has seen an increase of 41 unique delegates in the past 24 hours.
It is worth noting that TerraCVita hinted at the launch of a governance token and an Initial Coin Offering in its whitepaper, which it released in December.
Developers are likely edging closer to the DEX launch date. While they gave no specific launch date, the group confirmed a timeline of early Q1 2023 last month.
Per statements from senior TerraCVita member Rex Harrison, AKA Rexzy, the DEX will significantly contribute to the LUNC burn initiative.