Daily Crypto NewsEDITION #463, 16 May 2022

Buterin is a darling, for he thinks of us (UST)

Hey Moni Maker 😳

Today, in 2011, the game Terraria was released. It's interesting, of course, how the semantics of words can change in literally just ten years! Back then, when we heard Terraria, we thought of a sandbox game from Re-Logic. Now we cannot help but think of Terra, you know, the ones with UST and LUNA... Hopefully, such references will be fewer in the future. 

Let's go!

The UST and LUNA case is still the most discussed narrative in the crypto community. Everyone is already there: CZ and Buterin... only Elon Musk is missing, never mind. 

Anyway, Terra creator Do Kwon proposed to make a blockchain fork and allocate 1 billion LUNA tokens to be distributed among participants. 

Buterin accepted the idea and added that Terra should focus on medium and small investors rather than whales. But CZ, for example, criticised the fork idea, saying that it is wishful thinking, Mr Kwon. 

We continue to follow and believe that the guys will be OK.

Aurora is launching a fund! And not just any fund, but to support DeFi developers on the NEAR protocol. What is it, and why? 

The fund was introduced today in collaboration with Proximity Labs, the DeFi-hub of the NEAR protocol. Aurora Labs gave Proximity Labs 25 million AURORA tokens (about $90,000,000) from its DAO treasure to create the fund. 

Proximity will manage the tokens and provide grants to developers interested in building DeFi-based applications on Aurora. Such token-based funds are used by blockchain or cryptocurrency founders as a strategy to boost overall network activity.

Pump — is planned and sharp pumping of the value of the coin, then to sell it at the highest possible price. As a rule, pumps are typical for coins with low capitalization. Therefore, manipulators are trying to attract as many people as possible to the project in order to control the price.

And more you can find in our Glossary!

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