Terra-LUNA will reward users with the latest community bounty program despite the crash on the crypto markets. LUNA saw one of the strongest rallies in 2021 and this native token traded under $1 earlier in the year to a high of $22 before crashing to its current price of $5,88 as we read more today in our latest cryptocurrency news.
The ecosystem was growing really fast and the protocol decided to launch Terra’s Community Bounty Program with the announcement claiming:
“Terra’s ecosystem is flourishing. Third-party projects are popping up seemingly every day & opportunities for community members to contribute to the growth of TeFi are abundant.”
During the growth, the protocol launched the initiative and with its other incentives, it allowed users to help spread the benefits of the ecosystem. The program was created in partnership with Terra Bites which is a podcast dedicated to this protocol as well as Learn Terra. The program has the goal of increased adoption and the team behind Terra believes education content can help bring more users to the platform. The high-level overviews of Terra applications, tutorials, and how to use apps as well as detailed guides and strategies, using Terra assets helped onboard new users and provide better context on the Terra ecosystem.
Every Friday, users and community members can find 3 bounty topics that are listed on the Terra official website in the Bounties section. The participants can submit the bounties that are written articles of around 1500 words that can cover different topics and earn rewards in UST which is the protocol’s native stablecoin. The articles can be tutorials, analyses and other formats with the program’s first-month bounty will be funded by Terraform Labs and later it will receive funding from the Pylon Protocol deposit contract.
Pylon is comprised of a series of savings and payments Defi protocols that are built on top of the Anchor Protocol and it has been created for purposes like the bounty program to tackle transactions between the long-term value providers and the consumers. Terra-LUNA and Terra Bites will select 3 bounties with the winner by each category will receive $500 and the other two places that will receive $100 and $50 respectively. Submissions will be accepted via written articles that will be expanded in the future. Participants have to send their submissions in a Medium post and created from their own accounts, before Wednesday after the bounty was posted.
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