NewsletterLUNC News: Terra CEO Chris Amani’s Big Announcement For Cosmos Chains
LUNC News: Terraform Labs’ new CEO Chris Amani shared exciting news for the Cosmos community to support infrastructure for all Cosmos chains. The Foundation business model would be willing to run the infrastructure for all chains on Cosmos, cutting down the massive costs. Cosmos ecosystem tokens’ prices jumped massively in response to the announcement.
Terra Luna Classic community members also reached out to LUNC developers to use the opportunity and cut unnecessary infrastructure costs the community pays.
Terra Announces Infrastructure Support
Terraform Labs CEO Chris Amani in a TFL Telegram group revealed one of the business models of Foundation to run infrastructure for teams that don’t want to deal with this or don’t have the team to do it.
He added that it’s free for all applications that launch on Terra, but TFL can also run infrastructure for entire chains on Cosmos.
“The model we have in mind is that they pay for it by implementing alliance and directing a negotiated amount of inflation to LUNA. The offer is applicable to all chains in Cosmos, including chains that end in the word Classic.”
Popular Terra Luna Classic member Mr. Diamondhandz1 shared the bullish news with the community, sparking excitement in the community.
Read More: Terraform Labs and Do Kwon Seek Summary Judgment in SEC Lawsuit
Cosmos Ecosystem Tokens Shoots Higher
Meanwhile, tokens in the Cosmos ecosystem jumped after the announcement. ATOM price increased by 8% in 24 hours and is now quoted at $8.13. Whereas JUNO increased by 142% to $0.66, OSMO rose 25% in 24 hours and is now quoted at US$0.391, and EVMOS rose 28% in the small market and is now quoted at $0.071.
However, Terra Luna Classic (LUNC) price fell 3% in the past 24 hours, reducing the last week’s gain to nearly 7%. The 24-hour low and high are $0.0000635 and $0.0000664, respectively.
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