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Terra Classic Launches First-Person Shooter Game

Mark Brennan
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Terra Classic Launches First-Person Shooter Game

You can earn Terra Classic (LUNC) by playing the game.



Professor Edward Kim, an Associate Professor of Computer Science at Drexel University, co-founder of Terra Rebels, and leading LUNC developer, has launched a First-Person Shooter (FPS) Terra Classic (LUNC) game.

The FPS LUNC game was launched on Unity Play, a platform where aspiring game creators deploy their latest WebGL creations. Professor Kim said the game was launched following massive interest in it. 

“Seems like lots of interest in playing the #LUNC fps game in Unity3D,” Professor Kim said. 

Terra Rebels, a decentralized organization focused on revitalizing the Terra Classic ecosystem, also announced the development.

Earn LUNC Rewards by Playing the Game

The game has become a good LUNC faucet, as players are rewarded with Terra Classic tokens when they progress in the game. To start playing, you must input your Terra Classic address to which the LUNC rewards will be sent.

“Put in your wallet address, and it will send you LUNC. I’ll fill the coffers now and then,” he said. 

It is worth mentioning that the LUNC faucet is rate limited to one transaction per block. People who do not receive the LUNC rewards immediately will have to play the game again when there is less congestion.  

At the moment, the game is only supported on PC. Professor Kim is yet to reveal further plans for the game, especially whether a mobile version will be launched soon.

Dr. Kim is an associate professor of computer science at Drexel University, a private research university in Philadelphia, Pennsylvania. In 2013, he obtained a Ph.D. in Computer Science from Lehigh University in Bethlehem, Pennsylvania.

The Game’s Benefit to the Terra Classic Ecosystem

The FPS LUNC game will contribute to making the Terra Classic project more popular among cryptocurrency users. Interests in LUNC will soar as people are rewarded with cryptocurrency. 

In addition, sending LUNC rewards to players’ addresses will also contribute to the ongoing burn program. A 0.2% tax burn will be applied to every Terra Classic token sent as a reward to players.

Terra Rebels Launch Their Own LUNC Validator

Mark Brennan
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Terra Rebels Launch Their Own LUNC Validator

The Terra Rebels now run a LUNC Validator.


In a tweet on Friday, independent Terra Classic development group Terra Rebels announced that it had launched its Terra Luna Classic (LUNC) validator.

Notably, reXx of the Terra Rebels took to Twitter moments later to confirm the development.

“We have open up our own validator. We will be running at a 5% commission. We will abstain from all governance votes.”

Per the details, the validator will run on a 5% commission, subject to change only via an internal governance vote by the Rebels. The group intends to cover the cost of operation from the proceeds of the validator while diverting whatever remains to the Terra Rebels donations wallet.

Additionally, the group plans to abstain from governance votes to avoid unduly influencing governance decisions.

The Terra Classic community expected the Terra Rebels validator to launch on Thursday, with validators from Classy Crypto, HappyCattyCrypto, and David Goebelt. However, the group did not announce the launch of the validator till Friday.

Goebelt, one of those who launched a validator on Thursday, asserted that the decision to delay the announcement was an intentional move by the Rebels. According to Goebelt, it is likely that the Terra Rebels delayed allowing smaller validators to get substantial delegations.

It is worth noting that by launching a validator, Terra Rebels is following in the footsteps of another LUNC developer group TerraCVita. Much like the TerraCVita group, it will not be surprising to see the funds generated from the validator go towards compensating members contributing to the revival of the Terra Classic chain.

Staking has become very popular on the chain, with over 830 billion LUNC staked, representing over 12% of the supply. Notably, as reported by The Crypto Basic on Thursday, over 111 billion LUNC was staked in a single day as long-term investor confidence returns to the chain.

Blockchain Association Joins Ripple In Fight Against SEC

Mark Brennan
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Blockchain Association Joins Ripple In Fight Against SEC

 

Blockchain Association Requests to File Amicus Brief in Support of Ripple Against the SEC.


 

The Blockchain Association has indicated an interest in filing an amicus curiae brief supporting Ripple’s lawsuit against the Securities and Exchange Commission (SEC).

“Today we announced we filed an amicus brief supporting a correct interpretation of Howey in the SEC’s two-year legal battle against @Ripple,” the Blockchain Association said in a statement.

The Association States Its Position in the Suit

In a motion submitted yesterday, the association noted that it is interested in the lawsuit because an “overly court ruling” could negatively impact the entire blockchain industry in unintended ways.

According to the association, the SEC’s statements throughout its litigation against Ripple prove that the agency sees U.S. laws beyond the initial investment contract application, between a crypto token issuer and investors.

The association added that the SEC’s “extremely broad interpretations” of the U.S. securities laws could negatively impact the country’s cryptocurrency industry.

“Market participants acquire tokens in many different ways, and use them for different purposes. Many of those methods or uses have nothing to do with primary sales or distributions of tokens,” the association’s motion read.

It also provided several examples to demonstrate how market participants use cryptocurrencies outside the SEC’s interpretation of investment contracts.

“Applying the securities laws to those tokens–whether or not through the prism of the touchstone Howey test–would significantly restrict those networks from functioning,” the motion read.

Blockchain Association further said that SEC is forcing regulations rather than getting other sides’ opinions. Blockchain Association said, “No regulatory agency should unilaterally regulate crypto with outdated standards.”

“Since 2019, the SEC has regulated how U.S. securities laws apply to digital assets through enforcement actions rather than guidance or rulemaking.

Often, SEC enforcement actions end in one-sided settlement agreements rather than judicial opinions that factor in the unique facts presented to the court by both sides.

Rather than settle, Ripple is fighting back through our judicial system. What this means is that a judge will soon rule on the issue.

Should the court adopt the SEC’s version of the law, the landscape of assets falling under the SEC’s jurisdiction will expand beyond how the Supreme Court intended in Howey.

Today, we joined the fight with an amicus brief to support our growing crypto ecosystem. No regulatory agency should unilaterally regulate crypto with outdated standards. Instead, it’s time for Congress to define a clear regulatory framework to guide the industry.”

Blockchain Association Exec Says SEC Is Wrong

The SEC claims Ripple violated U.S. securities laws via its 2013 Initial Coin Offering (ICO). However, Ripple has maintained that XRP is not a security, adding that the SEC lacks the legal theory to back its claim.  

Jake Chervinsky, Head of Policy at Blockchain Association, said the SEC is legally wrong to sue Ripple. According to Chervinsky, the SEC has bluntly refused to provide guidance on what crypto assets should be termed an investment contract. Instead, SEC Chair Gary Gensler recently stated that the majority of cryptos are securities without providing further explanation. 

Chervinsky said Gensler’s statement only portrays his personal views and cannot be seen as law. 

“Yet again, the SEC has expressed its views on crypto to a federal court in a motion for summary judgment, rather than to the American people in guidance or rulemaking. The SEC’s views are wrong as a matter of law and policy,” he added.

Ripple Keeps Getting Support

The Blockchain Association is the latest organization to declare support for Ripple in the SEC lawsuit officially. U.S. District Judge Analisa Torres has continued to approve third parties’ requests to file amicus briefs supporting Ripple. Meanwhile, it is expected that the SEC will state its opinion on whether the association should be permitted to file its amicus curiae brief.

Terra Classic Community Starts Voting On Development Grants Program

Mark Brennan
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Terra Classic Community Starts Voting On Development Grants Program

 

Terra Classic developer Edward Kim has initiated voting on the Terra Classic grants proposal.



Edward Kim has put up proposal 8813 for voting, as per a tweet from the Terra Classic core developer on Friday, sharing a temporary website created for the initiative.

Proposal 8813 promises to launch a Terra Classic Grants program that would allow for the efficient and transparent allocation of funds in the community pool. As previously reported by The Crypto Basic, Edward Kim requests $68,000 from the community pool to direct and run this grant scheme for six months.

Notably, the proposal came as the core developer expected the community to vote in favor of proposal 5234, which allocates 10% of all Terra Luna Classic (LUNC) burnt to the community pool to fund development activities. For efficient and transparent allocation of the new inflow, Kim suggested that the community start a grants program.

The grants team will identify deficiencies in the network and request proposals from the public and community members. On receiving bids, the community will call on a group of independent reviewers to review the submissions. Afterward, the team will submit selected proposals alongside reviewer comments as a governance proposal on the Terra Station for community approval.

If approved, the team sends the required funds from the community pool to a multi-sig address controlled by the grants team. Finally, the grants team will make payments to developers on a milestone basis.

So far, the community has received Kim’s proposal with enormous support, with many pledging to vote in favor.

It bears mentioning that another Terra Classic developer Alex Forshaw has also made a separate proposal with hopes of solving the Terra Classic sustainable development problem.

Forshaw disclosed in the proposal yesterday that he had been aware of $4 million in Terra Classic off-chain assets. The developer proposes that the community use the assets to fund a professional team of developers via a multi-sig address, placing signers on a stipend of $5,000 monthly.

However, unlike Kim’s proposal, this proposal has faced stiff resistance, with some community members suggesting that the funds be sent to the community pool instead and allocated through the grants scheme.

Shiba Inu Enters Robinhood Top 5 Gainers List

Mark Brennan
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Shiba Inu Enters Robinhood Top 5 Gainers List

Shiba Inu ranks among the best-performing cryptos on Robinhood.


The massive price increase of Shiba Inu in the past seven days helped the token rank among Robinhood’s top 5 cryptos with the most gains this week.

According to the data, Shiba Inu soared 18% this week to rank as the fourth cryptocurrency with the most gain on Robinhood. The leading canine-themed token was only behind Avalanche (AVAX), Ethereum (ETH), and Dogecoin (DOGE).

Robinhood made this known in a tweet, which discussed the events in the cryptocurrency space this week.

At the time of writing, Shiba Inu is trading at $0.00001168, up 17.3% in the past seven days. The crypto asset took advantage of the recent market relief to put smiles on investors’ faces. It is worth noting that Shiba Inu recorded a series of positive events this week. As reported, Bitstamp exchange announced that it has made Shiba Inu trading available to its U.S. customers.

Massive Whale Accumulation Before Price Increase

Interestingly, whales appear to have gotten prior information that the price of Shiba Inu will skyrocket this week. These investors purchased large volumes of SHIB over the week before the rally.

A new whale bought a whopping 3.37 trillion SHIB tokens worth $37.46 million two days ago. On the same day, another mysterious whale made a groundbreaking purchase of Shiba Inu, totaling 3.94 trillion Shiba Inu tokens ($42.9 million). Furthermore, an existing Shiba Inu whale purchased 165 billion units of SHIB ($1.92 million), following other whales.

Ripple Gets More And More Support Against SEC As Two More Companies Formally Files Amicus Briefs

Mark Brennan
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Ripple Gets More And More Support Against SEC As Two More Companies Formally Files Amicus Briefs

 

The court has approved the requests of two third parties to file amicus briefs in support of Ripple.


Judge Analisa Torres has granted SpendTheBits, and Investors Choice Advocates Network (ICAN) requests for leave to file amicus curiae briefs supporting Ripple in lawsuit against the SEC.

“The court has reviewed the requests by Philip Goldstein and ICAN, and SpendTheBIts Inc, for leave to file amicus briefs dated October 18, 2022 […] Accordingly, the request is granted,” excerpt of the court’s ruling.

 

Following the ruling, SpendTheBits and ICAN have officially filed their amicus briefs in support of Ripple.

SpendTheBits’ Amicus Brief

SpendTheBits, a crypto company based in Canada, disputed the SEC’s claims that XRP lacks utility and that the cryptocurrency is only purchased for speculative investment purposes. 

 

“We dispute Such far-fetched assertions about open-source software code and completely disregard the hundreds of use cases created for XRP, unrelated to any of Ripple’s efforts,” SpendTheBits said.

SpendTheBits noted that it leveraged Ripple’s XRP Ledger (XRPL) to develop an application that enables users to transfer Bitcoin faster and at a relatively lower cost. 

“Users experienced long delays and unnecessary costs in transferring their Bitcoin on the BTC network…; Bitcoin transfers can be finalized in a matter of seconds using XRPL.” 

Since the app is based on XRPL, SpendTheBits said XRP is required for its operation. According to the firm, the app helps to burn a total of 0.00005 XRP via each transaction. 

SpendTheBits noted that it is based in Canada and has halted plans to expand into the U.S. due to the ongoing lawsuit between Ripple and the SEC. It also plans to launch in El Salvador because of its friendly cryptocurrency policies.

ICAN’s Amicus Brief

ICAN, a non-profit law firm representing defendants in various SEC litigations, stated that the securities regulator tends to expand its authority beyond its statutory limits. 

 

“This brief aims to highlight why the SEC’s efforts to assert regulatory control over digital assets is an impermissible and unauthorized exercise of regulatory power and provides an analysis of the significant political and economic impact that broadening the SEC’s authority will have [on the entire crypto markets] in the absence of proper statutory authorization,” ICAN’s brief read. 

According to ICAN, the U.S. Congress only authorized the SEC to regulate a selected list of financial instruments such as stocks, bonds, and debentures. ICAN said digital assets are not on the list of financial instruments the SEC is mandated to regulate. 

However, the agency only seeks to regulate the crypto market by expanding the meaning of “investment contract” beyond the reasonable interpretation of the term.

Congress has explicitly authorized the SEC to regulate an enumerated list of financial instruments such as “stocks,” “bonds,” and “debentures.”

“Digital assets” is notably absent from that enumerated list. The SEC now seeks to regulate an entire industry by expanding one ambiguous term on that list, “investment contract,” beyond any reasonable interpretation of that term. This is a bridge too far. Congress never authorized the SEC to regulate digital assets; therefore, the Court should not infer that Congress would allow the SEC to do so herein in the absence of specific statutory authority.”

Blockchain Association Request to File Brief in Support of Ripple

Meanwhile, several enterprises have supported Ripple in the SEC’s lawsuit. In a tweet, Blockchain Association disclosed that they are the latest entity to file an amicus brief supporting Ripple against the SEC.

 

Coin98 Enables Shiba Inu Buying With 100+ Fiats Currencies

Zabi
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Coin98 Enables Shiba Inu Buying With 100+ Fiats Currencies

Millions of users can now buy Shiba Inu (SHIB) with more than 100+ fiats on the Coin98 Super App.


Vietnam-based Coin98 Super App (formerly Coin98 Wallet) recently announced the release of a new update on the fiat on-ramp feature in collaboration with a licensed financial institution, Simplex. This feature would enable its users to buy over 170 cryptocurrencies, including Shiba Inu, using more than 100 fiats through VISA, Mastercard & others.

The development aims to bring more users into the crypto space. Simplex powered by Nuvei, a global payments technology company, is committed to empowering the entire crypto space with a full fiat infrastructure. The platform added support for SHIB on November 4th, 2021.

As reported by The Crypto Basic, on October 21st, Taiwan-based fiat-to-crypto exchange ACE Exchange partnered with Simplex to allow its users to purchase over 20 cryptocurrencies, including Shiba Inu with fiat.

Coin98 Super App aims to create a great decentralized experience for a billion users by connecting them to the crypto space safely and securely. Coin98 offers its users a non-custodial multi-chain wallet that stores NFTs & cryptocurrencies along with a native swap to transfer thousands of tokens from one blockchain to another. The App currently supports over 50 popular blockchain networks, including Bitcoin, Ethereum, etc. The App also enables users to connect to loads of dApps on different blockchains effortlessly and smoothly with its Cross-chain Bridge & DApp Browser.

Dogecoin Leads Robinhood Top Gainers List

Mark Brennan
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Dogecoin Leads Robinhood Top Gainers List

 

Dogecoin Surges Over 40% In The Past Week, Topping Robinhood’s Top Gainers List.



Dogecoin continues its impressive rally, up over 40% in the past week.

Dogecoin rose by about 46% in the past week, as per a tweet shared via its official Twitter handle today.

Notably, DOGE topped Robinhood’s top gainers’ list, beating ETH, AVAX, and meme coin rival Shiba Inu.

Stats show that Dogecoin is the second-highest gainer among the top 100 cryptocurrencies by market cap. The popular doggy meme coin was second only to KLAY, a token designed for metaverse gamers, which gained over 73% in the past week. 

What’s Fueling Dogecoin’s Price Action?

As subliminally implied by Coinbase in a tweet on Friday, Dogecoin’s latest surge comes as Elon Musk takes the reins at the popular micro-blogging platform Twitter. Notably, the billionaire shared a video of himself on Thursday, walking into Twitter HQ hours before the takeover, holding a sink with the caption “Entering Twitter HQ – let that sink in!”

It is worth noting that Musk continues to have a long and rich love affair with Dogecoin. Support from the billionaire almost sent the token to the $1 price point in early 2021. Moreover, the billionaire has often declared that he prefers DOGE to Bitcoin as a means of payment. At one point, Musk described it as the best improvement to the current monetary standard he has seen.

Consequently, the billionaire has found ways to make the token an acceptable means of payment for merchandise at Tesla and The Boring Company, 2 out of his now five companies. What’s more, the billionaire has also previously contemplated using Dogecoin to solve Twitter’s bot problems.

Also, as reported by The Crypto Basic, Elon Musk confirmed monetizing creators on Twitter; Dogecoin adoption can get a big boost if Elon adds Doge as a means of compensating creators.

With the Tesla chief now in charge of Twitter, many believe that Dogecoin stands to gain extra utility. The meme coin is trading at the $0.08603 price point, up 44.84% in the last seven days.

Uphold In Surprise As Ripple (XRP) Tops Exchange Trending Coins

Lele Jima
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Uphold In Surprise As Ripple (XRP) Tops Exchange Trending Coins

Uphold never expected XRP to be among its top trending coins.

In recent times, XRP has attracted lots of attention among cryptocurrency investors as new developments unfold in the legal battle between Ripple and the SEC. 

Following increased investors’ interest in XRP, the crypto asset ranked as the top trending coin on Uphold, a leading crypto exchange. XRP led other top crypto assets like Dogecoin (DOGE), Kava (KAVA), XDC Network (XDC), and Casper (CSPR), in the ranking published by Uphold. 

The development came as a surprise to Uphold, as the exchange did not expect XRP to make the list of the top 5 trending coins on the platform. 

Interest in XRP Spike Amid Events in Ripple vs. SEC Suit

It is worth noting that interest in XRP lately is largely influenced by developments in the Ripple vs. SEC lawsuit. Whenever the lawsuit seems to be going in Ripple’s favor, there is a tendency that investors’ interest in XRP will increase. 

This month, several positive developments have been recorded in Ripple’s favor in the ongoing lawsuit. TheCryptoBasic reported that several firms had declared interest in filing amicus curiae briefs in Ripple’s favor. In addition, the SEC recently surrendered drafts of William Hinman’s 2018 controversial speech to Ripple. 

XRP has reacted positively to these events, spiking as high as $0.53 on October 9, 2022. When writing this line, XRP is trading at $0.46, with a slight gain of 2% in the past 24 hours.

Shiba Inu Releases “Dunes” Second Concept Art For SHIB Metaverse

Mark Brennan
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Shiba Inu Releases “Dunes” Second Concept Art For SHIB Metaverse

The second concept art of Dunes has been released.



Shiba Inu has revealed the second artwork concept of Dunes, one of the hubs in SHIB: The Metaverse. According to the official Twitter account of the metaverse project, the second artwork was revealed in a Fireside Chat on Discord yesterday on the official Shibtoken channel.

“Another beautiful Growth Dunes artwork concept revealed in SHIB The Metaverse’s HUB Fireside Chat last night!” the team noted.

Dunes Inspiration Came from Multiple Locations and Flora 

The project’s development team also shared an image of what the second concept of Dunes looks like. The Dunes’ design inspired several locations, including Great Sand Dune National Park in Colorado, United States; Egypt, Dubai, Sahara Desert; and Sossusvlei Park in Namibia. 

In addition, the flora inspiration for the hub was gotten from Bushels, Camel Thorn Tree, and Nara Melons, among others. The blog post also described the type of effect Dunes hub will have on landowners of SHIB: The Metaverse.  

“Picture yourself staring at mounds of sand shaped by wind, while feeling a sensation of heat, while smooth sand particles travel at a near distance welcoming other sand mounds, perhaps with a sense of sheltered areas behind an obstacle,” the blog post read. 

It is noteworthy that Shiba Inu has also released the concept art of other SHIB: The Metaverse hubs, such as WAGMI Temple, Rocket Pond, and Canyon.

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