Terra captures the Asian market with a Technology-first approach

Date:

Trending

- Advertisement -

South Korea-headquartered decentralized finance platform, Terra, today announced the nine winners of the “Think with Terra Ideathon” a four-month-long program that challenged Indian developers to push the boundaries of the realm of payments across various industries with blockchain use cases.

The nine projects selected across the three identified tracks – Fintech, Logistics, and Healthcare, will receive rewards from a pool of INR 500,000, and will be integrated as a part of Terra’s global developer community and will be working closely with the global Terra team itself. The winning projects included innovative solutions with blockchain use cases in Agro-tech, healthcare, public affairs, and supply chain sectors.

The Ideathon, launched in partnership with Singapore-based innovation management brand Lumos Labs, is a step towards strengthening and expanding its base in Asian markets with a special focus on a strong developer community in India.

Nicholas Platias, Head of Research at Terra mentioned “As the first edition of Terra Ideathon in India, we saw some very interesting projects coming from the developer and student pool in India and it reiterates our belief in the Indian market as the hotbed for innovation in the blockchain space. The selected ideas reflect empathy towards real-world problems and a scientific bend of mind to apply innovative emerging technology such as blockchain to resolve these concerns. This is a beginning to our long-term commitment to the Indian Blockchain ecosystem and we will be actively exploring opportunities to collaborate with the developer and startup community in India.”

Terraform Labs, the group behind Terra has been aggressively driving their vision to lead a decentralized finance movement, globally. It recently raised $25 million in a new round from Galaxy Digital, Coinbase Ventures, Pantera Capital, and others.

- Advertisement -

The stable coin for e-commerce creator also launched Mirror, the first synthetic assets protocol that tracks the price of stocks, futures, exchange-traded funds, and other traditional financial assets, bridging crypto with traditional markets.

It has already proven people will use its volatility-free tokens in decentralized finance (Defi) to buy synthetic stocks by locking over $340M in the total value of assets within two months of launch and plans to attract blockchain denizens to even more use cases. Terraform Labs is also behind the Chai payments app, an e-commerce wallet that’s widely used in Asia with over 2.2M users and has raised $60M in its Series B investment round.

“We look forward to using the funds for building key pieces of infrastructure in the Mirror Protocol for synthetics, Anchor Protocol for savings, and other killer Defi applications to make Terra’s algorithmic stablecoins the centerpiece of the decentralized finance movement,” Terraform’s co-founder Do Kwon said.

Terra is building new financial infrastructure powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native governance and staking token, Luna. Terra’s mission is simple: set money free by building open financial infrastructure. The company has navigated a steady path of growth towards increasing the expansion and development of its products and network.

- Advertisement -

Terra now has the third-highest number of transactions of all blockchains (after BTC and Ethereum) and is generating 13M USD in fees annually.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -
Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

Beyond the MVP: Gacsym Ventures CTO Nandagopal P on Helping Startups Through Venture Studios

In a conversation with TechGraph, Nandagopal P, Chief Technology Officer at Gacsym Ventures, shared why many venture studios continue to view idea validation and...

How Air Can Become Urban India’s New Water Source

India's cities are running dry. Chennai nearly ran out of groundwater in 2019. Bengaluru's lakes are shrinking. Delhi's borewells are drawing from depths unimaginable a decade ago. And yet, even as aquifers deplete and rivers carry increasing pollutant loads, there is water all around...

The Human Algorithm: Why the Future of Digital Marketing Belongs to Empathetic Strategists

The modern marketing department is quieter than it used to be. The frantic tapping...

How AI is Rewriting the Economics of India’s $300 Bn IT Services Sector

When Microsoft CEO Satya Nadella recently disclosed that artificial intelligence now generates nearly 30...

AI and Fake Content: Can Technology Win the Battle Against Misinformation?

Artificial Intelligence has transformed how content is created, manipulated, and distributed at scale. News,...

Why Micro Learning at 3 Minutes Works Better Than Lectures at 3 Hours

In the fast-moving world of digital education, there is one myth that continues to...

The world’s largest crypto market is building in the dark

India remains one of the few significant economies without a comprehensive crypto and stablecoin...

How Location Data Storage Technology is Making City Travel Smoother

India’s mobility ecosystem is undergoing a quiet but powerful transformation, driven not just by...

Why India Must Own Its Education Intelligence Stack

India has rapidly digitised large parts of its education ecosystem over the last decade. But digitisation alone does not improve learning outcomes. The next...

Can Intelligent Optimization Redefine How Businesses Solve Their Toughest Problems?

The modern enterprise is no longer just a business; it is a complex, hyper-connected...

Why Cyber Resilience Is Replacing Cybersecurity as a Boardroom Priority

Traditionally, cybersecurity was hard-wired to be a technology concern that was only taken care...

Refurbished Electronics Platform Grest Secures FDI from Japan’s ICMG in Pre-Series A Round

Grest, an India-based premium refurbished electronics platform, has secured foreign direct investment from ICMG...

The Rise of Integrated Solar Tech Ecosystems in India

India’s clean energy is all about building an ecosystem that is interconnected with various...

Beyond Nvidia: The Hidden Winners of the AI Stock Rally

Nvidia stock (NASDAQ:NVDA) has returned roughly 1,200% since ChatGPT launched in late 2022. Most investors know that number by now. Fewer have followed the...

What PM Modi’s Appeal to Avoid Gold Buying Could Mean for India’s Jewellery Economy

When Prime Minister Narendra Modi recently urged citizens to avoid purchasing gold for a year, the statement immediately unsettled large parts of India’s jewellery trade. Shares of listed jewellery companies reacted sharply, bullion traders began reassessing demand expectations, and retailers across major gold markets...

As Crypto Markets Mature the OpenSea Insider Trading Case Still Shapes Governance Debates

When federal prosecutors charged former OpenSea employee Nathaniel Chastain in June 2022, the case...

The Business of Recycling: Profit, Waste, and Sustainability

The business of recycling stands at the intersection of environmental responsibility and economic opportunity....

Apple Reports $111.18 Billion Revenue in Q2 FY26, Net Profit Rises to $29.6 Bn

Apple Inc. (NASDAQ:APPL) has reported its financial results for the quarter ended March 28,...

Hermès vs MetaBirkin: The NFT Case That Redefined Ownership on Ethereum

The NFT boom of 2021 and early 2022 pushed digital assets into the mainstream,...

Why Ontarex.com Is Gaining Canadian Investor Attention

In recent months, Ontarex has started to attract noticeable attention from Canadian investors. As...

What India’s developers are building in crypto despite regulatory uncertainty

India’s crypto story has largely been framed through the lens of investment and regulation....

Rethinking Growth Metrics: Thrive Global AI’s Priyanka Aeron on Scaling Intelligence for Business Growth

Speaking with TechGraph, Priyanka Aeron, Director and Co-founder of Thrive Global AI, discussed how...

What the Next Phase of Growth Looks Like for Indian and Global E-commerce Players

For close to a decade, metrics for evaluating the growth of e-commerce included customer...

Ethnic Wear Brand Alaya By Stage3 Raises Seed Funding Led by LC Nueva AIF

Gurugram-based Alaya By Stage3, a modern Indian wear brand operated by Cosmo Brands, has...

Refurbished Electronics Platform Grest Secures FDI from Japan’s ICMG in Pre-Series A Round

Grest, an India-based premium refurbished electronics platform, has secured foreign direct investment from ICMG...

“Budget should focus on reducing taxes on capital gains,” Says Abhishek Gupta of Hex N Bit

Speaking in the upcoming Union Budget 2021, Abhishek Gupta, Founder, and CEO, Hex N...

“China is a Global thief” Rep. Tom Rice on Uyghur Forced Labor Prevention Act

Speaking at the House on Uyghur Forced Labor Prevention Act, Rep. Tom Rice (R-SC)...

How Agentic AI Is Personalising the End to End Salon Experience

Walk into a salon today, and more often than not, the experience still depends...

From Black Box to Trusted AI: Why Defence Needs Constitutional AI Models

For decades, the defence and intelligence agencies have followed one non-negotiable rule: trust nothing...

The Rise of Integrated Solar Tech Ecosystems in India

India’s clean energy is all about building an ecosystem that is interconnected with various...

Alphabet Discloses $2.14 Billion in Public Equity Holdings as of June 30

Alphabet Inc. disclosed $2.14 billion in equity securities held across 39 positions as of...

Gaming for Good: Boosting the Indian Gaming Community through Technology

The Indian gaming industry is transforming remarkably, driven by technological advancement and a growing...

India to generate $100 bn from telephonic investments

India expects to attract $100 billion in investments in the telecom sector, a union...