In a tweet posted today, Terra Classic independent development team TerraCVita announced the beginning of a reduced private sale of its decentralized exchange token dubbed “TERRA” to community members who delegate their tokens to its validator.
The Terra Classic DEX’s launch is quickly approaching.
It comes in response to the group’s Monday revelation that it had secured $1 million in a private sale for its decentralized financial project Terraport.
This also includes the eagerly awaited Terra Classic DEX, as was previously revealed.
According to a tweet from the TerraCVita organization today, delegators can participate in the discounted private sale in 3 easy steps.
- Delegates must sign up for the TerraCVita Discord and indicate in the “VALIDATORS” channel that they are interested in participating in the “Terraport Sale.”
- Delegators should request an “Admin.”
- They must produce proof of delegation with TerraCVita as directed by the administrator.
As a result, the group released a list of seven admins with the tags “Admin,” “tcv-terraport-sale,” and “Mod,” who will assist users in participating in the sale.
Developers Edging Closer to DEX Launch Date
According to data from Smart Stake Analytics, the TerraCVita validator has 11.5 billion Terra Luna Classic (LUNC) staked, giving it 1.34% of the voting power from 1,512 different delegates.
In the last 24 hours, there have been 41 extra unique delegates.
It’s important to remember that in its whitepaper, published in December, TerraCVita alluded to introducing a governance token and an Initial Coin Offering.
The debut of DEX is getting closer to developers. Although they did not provide a particular launch date, the group did last month establish a plan for early Q1 2023.
Rex Harrison, also known as Rexzy, a senior member of TerraCVita, has stated that the DEX will substantially contribute to the LUNC burn program.