Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Luna is the reserve currency of the Terra platform. It has three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stablecoins and iii) provide incentives for the platform’s blockchain validators.
AXS is the governance token for the Axie Infinity game. Token holders will be able to shape and vote for the direction of the game universe. This is unlike traditional games where all decisions are made by the game developers. AXS holders will be able to stake their tokens to earn more AXS and even vote for governance proposals.
The CEO of Binance expressed disappointment in the way the Terraform Labs team has handled their ecosystem crisis.
CZ changpeng Zhao (CZ) is the founder of crypto exchange Binance. said that the Terra network a network refers to all nodes in the operation of a blockchain at any given moment in time. team barely responded to requests from Binance to help them restore the network.
“We asked your team to restore the network, burn LUNA that was minted extra and bring back UST parity,” CZ tweeted. “So far, we haven’t had any kind of positive response or anything in response.”
5. I am very disappointed with how this UST/LUNA incident was handled (or not handled) by the Terra team. We requested their team to restore the network, burn the extra minted LUNA, and recover the UST peg. So far, we have not gotten any positive response, or much response at all
– CZ ???? Binance (@cz_binance) May 13, 2022
He then compared the response of Earth to that ofAxie Infinitywhen this project was hacked for more than $600 million, applauding the Axie because of how responsible and transparent they were at the time.