Chris Amani, the newly appointed CEO of Terraform Labs, has unveiled a strategic initiative to provide infrastructure support for all Cosmos chains, including Terra Classic (LUNC).
This announcement has generated significant enthusiasm within the Cosmos community and is expected to reduce infrastructure costs for various chains. As a result of this development, the prices of tokens within the Cosmos ecosystem have experienced substantial gains.
Terraform Labs’ Vision for Cosmos Chains
Chris Amani, the CEO of Terraform Labs, has expressed a commitment to supporting the infrastructure needs of all Cosmos chains.
Under Terraform Labs’ foundation business model, the company is ready to assume the responsibility of running infrastructure for these chains, thereby relieving project teams of the significant costs. This new approach aims to foster collaboration and cost-sharing within the Cosmos ecosystem.
Terra Luna Classic (LUNC) Community Involvement
Members of the Terra Luna Classic community have proactively engaged with LUNC developers, encouraging them to take advantage of this opportunity to reduce unnecessary infrastructure expenses incurred by the community. This move signifies a collaborative effort to optimize resource allocation and enhance the efficiency of the ecosystem.
Details of Terraform Labs’ Infrastructure Support
Chris Amani, speaking in a TFL Telegram group, outlined the foundation’s business model, which involves running infrastructure for project teams that may also lack the expertise or resources to manage it themselves. Notably, this service is offered for free to all applications launched on Terra.
Additionally, Terraform Labs is willing to extend this infrastructure support to entire chains within the Cosmos network.
Moreover, to facilitate this initiative, Amani explained that project teams would finance the service through an alliance-based model, which involves allocating a negotiated amount of inflation to LUNA, the native token of the Terra network. Importantly, this infrastructure support is also available for all chains operating within the Cosmos ecosystem, including those with “Classic” in their name.
Impact on Cosmos Ecosystem Tokens
The announcement has also had a positive impact on the prices of tokens within the Cosmos ecosystem. Notable increases include:
- ATOM, with an 8% price increase over 24 hours, now trading at $8.13.
- JUNO, experiencing a remarkable 142% price surge, reaching $0.66.
- OSMO, with a 25% increase over 24 hours, now quoted at $0.391.
- EVMOS, rising by 28% in the smaller market and currently trading at $0.071.
However, Terra Luna Classic (LUNC) has witnessed a 3% decrease in its price over the past 24 hours, although it still retains a gain of nearly 7% over the last week. The 24-hour price range for LUNC is between $0.0000635 and $0.0000664.
Chris Amani’s vision for Terraform Labs to support Cosmos chain infrastructure and reduce associated costs has injected optimism into the Cosmos community and also led to price surges for several tokens within the Cosmos ecosystem. This strategic move also reflects a commitment to fostering collaboration and facilitating the growth of Cosmos chains.