- Terra’s upgrade to Columbus 5 is on, expected to bring more scalability and features for projects.
- Columbus 5 is Terra’s most significant one yet since it introduces a new “burn” policy.
- The wormhole, or the bridge between Terra to Solana projects, goes live with Columbus 5.
The Terra ecosystem undergoes major changes with the arrival of Columbus 5. The upgrade brings a slew of developments and features to the protocol.
Columbus 5 is here, Wormhole and Burn policy to be live soon
Terra’s most significant upgrade yet has been set in motion at 3:30 AM GMT on September 30, 2021. The upgrade is bringing three critical changes to Terra. There is a planned upgrade to Stargate, integration of IBC protocol, Ozone, Wormhole and a new burn policy.
These changes are expected to influence the growth of the ecosystem positively.
The most-awaited addition is the ‘Burn policy’. Traders and speculators have awaited the implementation of burn in LUNA.
Proponents expect this new policy to have a similar impact on LUNA as it did on the Ethereum ecosystem, pulling tokens out of the circulating supply by burning them. Furthermore, it is expected to have a positive impact on LUNA price by creating scarcity across exchanges.
LUNA has offered relatively higher risk-adjusted returns than most other cryptocurrencies over the past two weeks in anticipation of Columbus 5 launch. Analysts have compared the altcoin to Solana before its explosive rally.
Mike Novogratz, CEO of Galaxy Investment partners, is enthusiastic on the arrival of Columbus,
$Luna trades amazing. Columbus coming. Same with “Next with Novo” podcast…mostly lots of new projects post Columbus. It reminds me of $SOL pre huge ramp. $BTC and $ETH will consolidate. Just my thoughts. Remember you don’t need to catch everything. Focus on what’s working.
— Mike Novogratz (@novogratz) September 24, 2021
