Terra $LUNA updates 17 May-23 May (Weekly Terra Report)

5 min readMay 23, 2021


made by Fynn. Link to my Twitter

Welcome to Fynn’s weekly Terra updates. This week we will be addressing all of the Terra Ecosystem events that occurred throughout the week of May 17th. We will also have a section dedicated solely to Harpoon Protocol, which includes some ALPHA. I would really appreciate it if you all would comment on my Twitter with your feedback and suggestions. Enjoy!

Credit to Smart Stake. https://twitter.com/SmartStake

This Report/Blog is for informational purposes only! Nothing here is financial advice. Always make sure to do your own research and be aware that anything you invest in is your choice and is at your own risk. Be aware.

Harpoon Protocol (ALPHA down below):

Harpoon is a user-executed liquidation platform for liquidating under-collateralized positions on Anchor Protocol.

A prominent member of the community named JJ had great success this week in liquidating many positions throughout the market dip. Down below you can see an example of one of these liquidations confirmation pages.

The execution of liquidations is performed via a bidding framework where bids are submitted directly to the Anchor Liquidation Contract. Bidders will submit bids to the contract, taking into account the CW-20 asset, size, and premium rate. This premium is a rate, the bidder is willing to pay for the at-risk collateral that is capped at 30%.

Terra published the Harpoon Protocol Spotlight on Medium earlier this week. It is a more in-depth overview of the project and I recommend you take a look for a better understanding of how this project works.

Link to Tweet Link to Medium

To stay up to date with developments and announcements, I recommend you join the official Harpoon Protocol Telegram. Teams often times release Alpha in their groups. Link

If you join the Telegram, you will also be able to see their Luna <> bLuna Telegram swap Bot, which they made for the community. Link


I have also gotten confirmation that Harpoon protocol will be releasing their whitepaper in the next week or so. Now, we all know what that means. Yes, you guessed it, Harpoon will have their own token! Whilst everything is closely guarded for now with regards to in-depth details I can exclusively reveal ANOTHER airdrop for LUNA stakers.

Another great way to stay up to date on Harpoon is by following them on Twitter. Here, they will post any future advancements and announcements. Don’t miss out!

Now back to the Weekly Updates:

Transaction fees on anchor protocol have been lowered. $0.5->$0.05! Link

“I’ve got big positions in Terra Luna” Mike Novogratz said on CNBC. Link

In light of the upcoming IAU and VIXY reverse splits, mIAU and mVIXY will be delisted on Mirror.

Oracle price will be fixed at the last reported price.

To prepare, if you have mIAU / mVIXY holdings, mint positions, or LPs:

- Burn mIAU / mVIXY at the fixed oracle price to claim collateral from any open position.
- Withdraw collateral from your mIAU / mVIXY positions or close them.
- Withdraw collateral from mIAU-UST / mVIXY-UST pools.

Shortly after the reverse split, the new mIAU and mVIXY assets will be listed on Mirror Protocol. (The delisted assets will be explicitly marked as such.)

Users will be able to trade, mint, provide liquidity & stake LP for the newly listed mIAU and mVIXY assets.

For more info on how stock splits/merges work on Mirror: Link Link to Tweet

William Chen to do a LUNA DEV SESSION — unveiling tips and tricks for building on Terra. Link

Anchor posts a very transparent explanation of Anchor protocol events that occurred in the market dip. Link

Do Kwon posts a Twitter thread where he talks about Proposal (82) to burn the community fund. Link to Thread

mGLXY-UST pair is now live on Mirror platform! Users can now mint and trade mGLXY or provide liquidity in mGLXY-UST pairs!

The tweet thread covers the mIAU asset migration, addressing steps the Mirror team will be taking to ensure smooth asset migrations in the future. Please read the entire thread. Link

Netflix in Korea has agreed to partner with CHAI to accept $KRT. Link

Mike Novogratz drops Terra $luna on Laura Shin‘s Unchained Podcast. Link

Thank you all for reading. This week was a very rough week, as you all probably know, so I hope you guys got something out of this. Share the link everywhere so we can get more people informed about this ecosystem.

made by: Fynn

It would be much appreciated if you all could check out my Twitter because I will be posting a lot of news throughout the week there as well.

My Twitter Link

The orbital command Intel report was used as a source to gather this information. If you enjoyed this report, please consider delegating to Orbital Command.

Orbital Command Twitter: https://twitter.com/orbital_command