Why will Terra (LUNA) reward users through the new Community Bounty Program?

Before the crash of the crypto market, LUNA had one of the strongest rallies of 2021. The Terra platform’s native tokens traded below $ 1 earlier in the year, hitting an all-time high of $ 22, before hitting the current price of 5, $ 71 fell. The rally returned 2.691% in one year.

LUNA side supportel Daily chart | Source: Trade view

Its ecosystem is growing just as quickly. As a result, the protocol decided to start Terra’s community bounty program. Official announcement to explain as follows:

“The Terra ecosystem is thriving. Third-party projects seem to pop up every day, and the opportunities for community members to contribute to the development of TeFi are numerous. “

Inspired by the development process, the protocol launched this initiative and with it financial incentives for users to spread the benefits of the ecosystem. The show shows a collaboration between Terra Bites (protocol-specific podcast) and Learn Terra.

The aim of the program is to increase the acceptance of the protocol and its ecosystem-based applications. The team behind Terra is convinced that knowledge-based content can help attract more users to the platform.

“A general overview of the Terra app, step-by-step instructions on how to use the app, and detailed instructions on different types of crop farming strategies with Terra assets to reach new users and create a better context for the Terra ecosystem. “

How to contribute to the Terra, the ecosystem and monetization

Every Friday, users and community members will find 3 “Bonus Topics” listed in the “Bounties” section of the Learn Terra official website. Participants can write around 1,500 word articles on various topics and earn rewards in UST – the protocol’s native stablecoin.

Articles can be created in the form of tutorials, approvals, analyzes, and other formats. The bonus for the first month of the program is funded by Terraform Labs (TFL). It then receives funds from the Pylon Protocol deposit agreement.

Pylon comprises a range of DeFi savings and payment products based on Terra’s anchor protocol. It was created for purposes like a bounty program to process transactions that would provide users with long-term value.

Every week, TFL and Terra Bites choose 3 bonus levels. The winner in each category will receive $ 500 and the remaining two places will receive $ 100 and $ 50. Entries are initially accepted as articles, but expanded later.

“The initial bonus will be limited to written content from topics selected by TFL and Terra Bites. However, we aim to add visual content such as acceptance videos, animation explanatory videos, graphic design, etc.

Entrants must submit via medium mail created from their own account by Wednesday after the 7am UTC bounty is posted.

Minh Anh

According to Newsbtc

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