Coinbase’s blockchain API and cloud service stops supporting Terra (LUNA). What about Terra 2.0?
Coinbase Cloud, an infrastructure arm of the largest US-based crypto ecosystem, Coinbase, has shared an important announcement for developers and businesses looking to develop Terra (LUNA) APIs.
Coinbase Cloud ceases support for Terra (LUNA) infrastructure
According to the official announcement shared on Coinbase Cloud’s Twitter account, support for Terra’s infrastructure will be discontinued.
According to the statement from the Coinbase Cloud team, this decision was made in consultation with customers and participants in the ecosystem behind Terra (LUNA).
Also, amid rumors about the potential spin-off of Terra (LUNA) protocol with a reconsidered minting policy and adjusted tokenomic design, Coinbase Cloud made it clear that the “potential” new chain would not be added to its stack of nodes.
Coinbase Cloud announced that customers and enthusiasts will receive all necessary support on “how to get the most out of Terra” with minimal impact on business processes.
Will Terra 2.0 go live?
As covered by U.Today previously, Terra (LUNA) ecosystem crashed due to flaws in the tokenomic design of its LUNA/UST balance and massive liquidity withdrawals from Anchor Protocol (ANC).
Terra (LUNA) and TerraUSD (UST) fell to almost zero; various Web3 services stopped supporting connections to Terra Nodes (LUNA) and closed pairs with LUNA and UST.
Terraform Labs’ Do Kwon proposed a number of concepts to reestablish Terra (LUNA) blockchain. However, some Web3 majors denied support of his upcoming plans.
