Coinbase Cloud, the infrastructure arm of the largest US-based crypto ecosystem Coinbase, has shared an important announcement for developers and businesses interested in building on Terra (LUNA) APIs.
Coinbase Cloud stops support for Terra infrastructure (LUNA)
According to the official announcement shared on Coinbase Cloud’s Twitter account, support for Terra’s infrastructure will be discontinued. This decision was made in consultation with customers and ecosystem participants behind Terra (LUNA).
2/ We have been thankful for the opportunity to support Terra’s participants and builders.
— Coinbase Cloud (@CoinbaseCloud) May 20, 2022
Additionally, amid rumors of a potential Terra (LUNA) protocol with a revised minting policy and tweaked tokenomic design, Coinbase Cloud has clarified that the potential new chain will not be added to its stack of nodes.
Coinbase Cloud has announced that customers and enthusiasts will receive all the support they need on “how to best roll off Terra” with minimal impact on business processes.
The Terra Ecosystem (LUNA) crashed due to an error in the source code design of the LUNA/UST balance and the large liquidity withdrawal from Anchor Protocol (ANC).
Both Terra (LUNA) and TerraUSD (UST) are down almost zero; various Web3 services have stopped supporting connections to Terra nodes (LUNA) and closed pairs with LUNA and UST. Do Kwon of Terraform Labs proposed several concepts to reset the Terra blockchain (LUNA). However, some Web3 majors refused to support his upcoming plans.
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