VeChain Foundation Inviting Terra Developers Over to VeChain After UST and LUNA Collapse
2 min read

VeChain Foundation Inviting Terra Developers Over to VeChain After UST and LUNA Collapse

By News Desk

The VeChain Foundation has put a call out to Terra developers to join the VeChain blockchain following the disintegration of the Terra ecosystem.

The Vechain Foundation has a grant program for applicants that could have an impact with applications pertaining to non-fungible tokens (NFTs), decentralized finance (DeFi), identity management, social media, and more.

VeChain is designed to streamline complex supply chain management and business processes through its distributed ledger technology (DLT). Companies that use VeChain include BMW, which uses it to prevent odometer fraud in automobile sales, LVMH, which uses it to track luxury leather goods, and Walmart, which uses it to track food provenance. VeChain also has a partnership with DHL, the world’s largest logistics company.

Image via Shutterstock

For developers to be considered for the grant program, applications have to be submitted through GitHub. Following submission, the application goes through a preliminary review, and then a committee review.

It’s unclear whether any Terra developers have, or will be migrating to VeChain, given the different focuses of each blockchain. Furthermore, the Terra community is still mulling over plans on how to rebuild itself, potentially through a fork.

“The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called ‘Terra’ (token Luna – LUNA), and the old chain be called ‘Terra Classic’ (token Luna Classic – LUNC). Both chains will coexist,” Terra founder Do Kwon suggested on Monday. “New LUNA will be airdropped to LUNC stakers, holders, residual UST holders, and essential app developers. Also, TFL’s wallet will be removed from the airdrop, making Terra a fully community-owned chain.”

Newsletter Inline

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Latest Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
Raydium Review: Solana’s DeFi Liquidity Mammoth

Raydium Review: Solana’s DeFi Liquidity Mammoth

June 11, 2022 17 min read

Related Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
crypto com
Crypto.com Exchange Review 2022: A World-Class Crypto Exchange
crypto com

Crypto.com Exchange Review 2022: A World-Class Crypto Exchange

June 14th, 2022 30 min read