.jpg)
Nansen (https://www.nansen.ai/), the industry-leading blockchain data analytics platform, announced today the launch of a Terra ecosystem dashboard which will provide extensive insights to institutional and retail investors looking to invest in the stablecoin protocol. It will leverage on-chain data to ensure that investors are offered a trusted, single source of truth.
Terra is a multi-dimensional protocol that not only serves as a stablecoin protocol but also a layer-one blockchain that allows developers to build decentralized applications. It currently supports the creation of stablecoins for up to 22 currencies which range from major currencies such as USD, GBP, JPY to smaller currencies such as SGD and MNT. Users are able to swap the LUNA token for an equivalent value of stablecoins and vice versa.
By using the Cosmos Tendermint consensus mechanism, Terra is able to achieve high transactions per second (TPS) while maintaining relatively low fees. In comparison to Ethereum which handles 15 TPS at a transaction cost of $9, Terra can handle up to 10,000 TPS and most transactions on the chain for less than a dollar. Additionally, research from Nansen shows that the total number of transactions on Terra hover around 50% of Ethereum’s total transactions while gas fees paid are between 0.2% - 0.6% of that paid on Ethereum.
“We’re excited to announce the first step in launching Terra dashboards on Nansen, offering existing and potential investors a level of transparency needed to make informed investment decisions on the protocol,” said Alex Svanevik, CEO of Nansen. “The Terra ecosystem has expanded rapidly in the past few months alone. The sheer number of Terra native projects being built and its ability to attract large amounts of capital at this early stage is a testament to the quality of the ecosystem. This dashboard is just the first step for more Terra dashboards coming on Nansen in the next months.”
Nansen’s platform combines on-chain data with a proprietary database of activity across 100M+ blockchain wallets to provide real-time, actionable insights for investors and financial institutions on the expanding blockchain ecosystem. The platform’s popular features, such as Smart Money, enable investors to recognize investments in emerging DeFi projects across a variety of investor types, while NFT Paradise and Mint Master provide tools to uncover NFT projects gaining traction in the space. This integration will add to the growing list of wallet labels Nansen currently supports including Ethereum, Polygon, Fantom, Binance Smart Chain and Avalanche.
Alongside the launch of the Terra ecosystem dashboard, Nansen has released a comprehensive report which examines the current state of the Terra protocol and ecosystem. With more multi-chain support set to be added to Nansen’s platform in the coming months, the team will be rapidly hiring engineers to accommodate its plans for expansion.
To view the Terra ecosystem dashboard on Nansen please visit:
