Polygon CEO Comes In Rescue For Terra Blockchain! Will Terra Projects Shift To Polygon?

Over the past week, the Terra blockchain system had swayed away from the entire crypto market. Industry activists are emerging to provide extensive assistance to the community.  On Sunday, May 15, Ryan Wyatt, CEO of Polygon Studios, put forth his thought via Twitter that he will help various Terra projects migrate toward the Polygon blockchain …

Timeline of Terra-luna, Polygon

Even though Binance lost nearly all of its initial investment, it still turned a profit from its staking yield. The post Binance's LUNA investment, which peaked at $1.6 billion, now worth just $3,000 appeared first on The Block.

Polygon MATIC/USD is a Layer-2 scaling solution, also known as a sidechain, that was specifically developed to provide faster transactions with lower costs for its users. Polygon also has its own native cryptocurrency token known as MATIC, which is used as a means for the payment of fees on top of the network, for taking, The post Polygon working with projects on Terra: how will this shape MATIC? appeared first on Invezz.

The Luna Foundation Guard (LFG) revealed on Monday that the recent Terra crash, and its measures to support UST had wiped out most of its reserves. Its holdings now stand at about $260 million- a far cry from the over $4 billion the LFG commanded less than two weeks ago.

LFG said it would look to compensate users for losses suffered due to the breakdown of its algorithmic stablecoin.  The post Luna Foundation Guard breaks silence on state of Terra reserves, looks to compensate users appeared first on The Block.

Terra has continued to settle down after a series of decline runs to reach its lowest level since its creation. Although all that is now partly over, its community is still very far from impressed.

A high-ranking member of the Luna Foundation Guard (LFG) said on Monday that the foundation's reserves are almost ready to be deployed, barring a few technicalities. The reserves will be largely targeted towards helping small wallets, and supporting builders and stakers on Terra.

CZ Binance would like to see bigger transparency from Terra's team and shared his opinion on what happened with Luna so let's read more today in our latest cryptocurrency news. The CEO of the world's biggest crypto exchange Binance said that he expected some more transparency from Luna's team after last week's UST-LUNA fiasco.

Binance CEO “CZ” in a tweet on Monday clarified that the exchange did not buy, and does not own any UST. Any UST the exchange had was from trading fees, and is now valued close to zero- following a severe crash in the token.

South Korean financial authorities have launched an emergency study of cryptocurrencies, which is designed to help them pass the “Digital Asset Basic Act,” the country's upcoming cryptocurrency regulation. LUNA crisis hastens Korea's pace in regulating cryptocurrency The digital asset class is currently not regulated in South Korea, but the government has been working on a.

Elite Token, a crypto system on the Polygon (MATIC/USD) blockchain to create an ecosystem uniting the mobile industry, influencers, and NFTs, announced a partnership with Elimobile to launch its first-ever telco that uses blockchain and tokenization, Invezz learned from a press release. Unlocking the power of the entire ecosystem Launched in Italy, the Elimobile's telco The post Polygon-based Elite Token launches blockchain telco with Elimobile appeared first on Invezz.