Luna Price Drops, Anonymous Validator Leaks Terra 2.0 Blockchain Roadmap Speculation
The slump in LUNA by 66% since its release on May 28, 2022, has not dampened the enthusiasm for the LUNA coin. Blockchain Terra 2.0 which has just been launched a week is getting a positive response.
A validator or central entity whose role is to validate, verify and complete every transaction that occurs blockchain on the Terra network with the username “Orbital Command” leaked the roadmap for Terra 2.0 for the next 3 months.
The first step of the roadmap is to build a decentralized exchange (DEX) launched on blockchain 2.0. Currently, there are 4 DEXs vying to be the first to be used in Terra 2.0 such as Phoenix, Finance, Astroport, Terraswap, and possibly Prism Protocol.
Possible New Stablecoins
The emergence of DEX will be followed by a stablecoin on the Terra 2.0 network. Unlike UST, the stablecoin in question is USDC which will be bridged through the Axelar network. Orbital Command stated that “The new DEX stablecoin is easy to develop in the future, UST has taught us a lot that innovative small-scale stablecoins or collateralized stablecoins are very likely to be realized.”
Liquidity staking providers will follow when the DEX alternative above has been implemented, one of these providers includes Stader Labs, Prism Protocol, and Eris Protocol which will provide Luna’s version of derivative liquidity staking.
Then, NFT activity should emerge as DEX liquidity increases. He also added that RandomEar Knowhere Art and Soil Protocol have entered into an agreement to support Terra 2.0, although it is not clear who Do Kwon will partner with for the NFT Terra 2.0 project.
Cosmos De-Fi Hub
After DEX and NFT are realized, Terra 2.0 will become a Cosmos Defi Hub, supported by DeFi technology and Anchor Protocol, De-Fi which has shut down Terra systems before. The validator believes in Defi derivatives and the market potential of the new ecosystem. However, he also confirmed this has not been officially announced by Terraform Labs.