News

October 31, 2023

Terraform Labs Reduces Costs and Boosts Token Prices with Infrastructure Support for Cosmos Chains

Emily Tremblay
Written byEmily TremblayWriter
Researched byNikos PapadopoulosResearcher

Introduction

Terraform Labs, led by new CEO Chris Amani, has shared exciting news for the Cosmos community. The company's Foundation business model aims to provide infrastructure support for all Cosmos chains, effectively reducing costs for developers.

Terraform Labs Reduces Costs and Boosts Token Prices with Infrastructure Support for Cosmos Chains

Free Infrastructure for Terra Applications

One of the key aspects of the Foundation business model is the provision of free infrastructure for applications launched on Terra. This eliminates the need for developers to handle infrastructure themselves or assemble a dedicated team for this purpose.

Infrastructure Support for Cosmos Chains

In addition to supporting Terra applications, Terraform Labs is also willing to run infrastructure for entire chains on the Cosmos network. This move is expected to significantly cut down on the massive costs associated with maintaining infrastructure.

Positive Impact on Cosmos Ecosystem Tokens

The announcement from Terraform Labs has had a positive impact on the prices of tokens within the Cosmos ecosystem. Following the news, the price of ATOM increased by 8% in just 24 hours, reaching $8.13. Other tokens such as JUNO, OSMO, and EVMOS also experienced significant price jumps of 142%, 25%, and 28% respectively.

Terra Luna Classic Community Response

Members of the Terra Luna Classic community have expressed their enthusiasm for the news. They see this as an opportunity to reduce unnecessary infrastructure costs that the community currently bears.

Conclusion

Terraform Labs' announcement of infrastructure support for Cosmos chains is a significant development for the ecosystem. By providing free infrastructure for Terra applications and offering support for entire chains on Cosmos, the company aims to reduce costs and facilitate the growth of the Cosmos community. The positive impact on token prices further highlights the importance of this announcement. Developers and community members alike can now take advantage of this opportunity to streamline their operations and maximize their potential within the Cosmos network.

About the author
Emily Tremblay
Emily Tremblay
About

Emily, a dynamic blend of tech-savvy and casino enthusiast, hails from the snowy landscapes of Canada. With her innate grasp of cultural nuances, she ensures online casino guides resonate deeply with Canadians. Emily's spirited and engaging nature makes her a favourite among peers.

Send mail
More posts by Emily Tremblay
undefined is not available in your country. Please try:

Latest news

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate
2024-02-16

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate

News

Please confirm your location

This website only displays operators licensed in Ontario, Canada. Please confirm whether you are located in Ontario.

YesNo