IBC - Ready for Take-Off
Terra Poker is preparing to break into a new dimension further in the Crypto Universe! Ladies and Gents: Terra Poker is now preparing to expand into the IBC world! We are ready to explore the opportunities of the infinite abyss!
TL/DR:
Terra Poker is expanding beyond Terra 2.0, but staying focused on product enhancements without compromising user loyalty and experience. We are planning an optimal business model that will protect the value for TPT holders while bringing incredible value to the new chains we are settling into.
Our First Destination: TERRA CLASSIC (LUNC)
Our first frontier in the IBC universe is none other than Terra 1.0 – the LUNA Classic (LUNC) chain. Though we have never launched onto Terra Classic, we are fully aware of the upside potential to harness the power of the LUNC community. The LUNC Community is strong in number and unity therefore, will be the right first destination.
As such, the Terra Poker Cash games and Tournaments will all be launching onto Terra Classic.
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$LUNC will be the primary game currency in TP’s Terra Classic games. There will be no new tokens launched in each new chain.
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$LUNC Burn Mechanism: A 10% portion of the rake fees collected in the launch will be used to burn LUNC, which we believe will be well received by the LUNC community
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TPT Buyback: Another 10% of the rake fees will be used for a TPT buyback program. The TP team believes that this will bring an upward value to current TPT
Value Retention and Elevation: TPT and IBC
One of our priorities in this exploratory stage into the IBC universe is to ensure that our user’s experiences and assets remain undiluted and withhold value. All the while, we are focused bringing great value to the new community. Rest assured, there will be no holdback for the new ecosystem – we will release the same amount of creativity, excitement and value-add! Both Explorers (Terra 2.0) and Welcomers (new destination chain) will benefit.
The Terra Poker team has decided to not issue any additional tokens in each new universe, but rather use the local native token as the primary game currency. In the case of Terra Classic, it will be in $LUNC.
As there will be no additional tokens issued for new IBC launches, the rake fees collected will be the primary source of a burn mechanism.
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IBC Governance to remain in Terra 2.0
- TPT will remain to hold Governance utility, and all governance will be denominated in TPT/xTPT
- Governance proposals relevant to each network will be conducted on the current Terra Poker governance system and use xTPT
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Utility Token to remain as TPT on Terra 2.0
- There will be no change in the utility of TPT or xTPT in the current Terra 2.0 universe
- On the Terra Classic poker game the primary utility token will be $LUNC
So…When?
We will be entering the LUNC atmosphere in April 2023. Crew, prepare for landing.