The Terra team announced via Twitter on Wednesday that its community has passed Spend Proposal 491. The proposal was designed to fund Terra’s partnership campaign with OpenOcean, a decentralized exchange aggregator. Terra said the funds will be used for a trading competition to increase awareness of Terra to OpenOcean's 400,000 users and the campaign is expected to launch in two weeks.
Terra is an algorithmic stablecoin platform operating on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint.
LUNA, the native token of the Terra ecosystem, is up by more than 2% in the last 24 hours and is trading at $95.33 at press time.