The 2022 bear market has taken some casualties and one of the hardest hit has been the Terra ecosystem. Terra’s native token, LUNA, has not recovered after it essentially collapsed in May and wiped out billions of dollars from the blockchain. And at the moment, a big Terra (LUNA) recovery doesn’t look likely.
Despite a Terra (LUNA) recovery looking unlikely, crypto investors still have high conviction on the industry for the long term. Brand-new innovations such as Metacade have been showing big potential for the future and as a stable long-term investment.
What is Terra (LUNA)?
Terra (LUNA) is a stablecoin protocol built on the Terra blockchain. The protocol uses a decentralised network of price oracles to peg the value of its native token, LUNA, to a basket of fiat currencies. It also incentivises users to lock up their tokens in order to earn interest rates in the form of staking rewards.
Terra was launched in March 2019 by co-founders Do Kwon and Daniel Kim. Terra’s mission is to tokenise the global economy by making it easy for anyone to use blockchain applications without having to be an expert in cryptographics. This process brings more accessibility to online financial services, with the core intention of improving the user experience for people across the world.
In May 2022, LUNA suffered a major price collapse. In a matter of hours, the entire ecosystem lost 99% of its value. The Terra (LUNA) recovery has looked unlikely, despite the algorithmic stablecoin mechanic working for 3 years prior. A LUNA recovery has little to no investor confidence after high market volatility led to a rapid decrease in liquidity levels. As such, a huge number of users all took out their tokens from the ecosystem at the same time, and few have re-entered to try to spur a future recovery of Terra and LUNA.
After this the UST token lost its stablecoin peg, and Terra has not recovered since. Since the UST stablecoin was linked to the supply of LUNA, the number of LUNA tokens in circulation shot up rapidly. With higher supply and lower demand, the price of LUNA quickly tumbled down to 0.
Two Tokens Moving in Two Directions
Any possible Terra (LUNA) recovery has been slow after the coins catastrophic price fall. After an explosive bull run, the token rapidly capitulated and many investors were left holding tokens that were essentially worthless. This was a valuable lesson demonstrating that a project’s foundational technology is absolutely key when it comes to backing an ecosystem. Now, Terra Luna’s recovery looks increasingly unlikely.
In recent times, people are seeking more stable long-term investments. Metacade sits at the cross section of industries that can be the very foundation of digital progress, as its immersive metaverse world is filled with unique Play-to-Earn opportunities for Web3 enthusiasts.
GameFi and the metaverse are rapidly growing and for good reason. The ability to earn real financial rewards while playing in immersive digital landscapes is a huge selling point for blockchain-based titles when compared with legacy games and more players are being attracted to the space every year as a result.
What is Metacade?
Metacade is a Web3 project that stands out from the pack by combining P2E games and a community-focused ethos. Metacade aims to be an all-in-one GameFi metaverse that can deliver increased earning potential as well as a place to chill, hangout, and learn about all things Web3.
On top of being the one-stop hub for P2E gaming, Metacade is home to brand-new methods of earning crypto rewards. Through sharing your knowledge about the latest Play-to-Earn titles, you can earn MCADE token rewards as part of a community-focused initiative hosted by Metacade.
Metacade will also connect users to projects that have built new Play-to-Earn games and offer MCADE token rewards for unique testing roles. You can gain access to some of the hottest new games through Metacade and start playing them before anyone else has access while sharing your thoughts with the development teams directly.
Metacade will become a decentralised autonomous organisation (DAO) over time. MCADE token holders can stake, earn passive rewards, and use their tokens to vote in governance proposals. The platform will become 100% governed by a community of gamers that seek to drive the Play-to-Earn sector forwards in a number of ways.
One key method of driving innovation is the Metagrants program. Metacade users will be able to vote on which new gaming projects they would most like to see developed. The platform will connect new games to the community and then ultimately DAO members will be able approve funding for high-potential crypto projects in their early stages.
Progress and Clarity
Blockchain is still a new sector of technological development. Terra (LUNA) has not recovered after it suffered an extreme downfall during May 2022, but new projects have learned from their mistakes. Price action for Terra LUNA will most likely fail to recover from this crash, as the token still sits at just $0.0002 – down from over $100 at the start of 2022.
The Terra token, now bearing the ticker symbol LUNC, simply can not gain the momentum it needs to turn its fortunes back around. In contrast, new and innovative projects such as Metacade are enjoying a very different level of success.
Crypto investors look to capitalise on MCADE’s high-potential future while it is still in its early stages. The project is built on a strong foundation as it has been developed within the Ethereum ecosystem and sits at the crossroads between several core areas of blockchain advancement.
LUNA and MCADE look set to have very different levels of success in the future, especially as more crypto investors have learned from past mistakes with LUNA and gained clarity about what a strong long-term investment should look like. For many in the space, this sense of clarity means progress.
MCADE tokens are currently being offered for $0.008 to those who sign up for its presale, which gives savvy investors an exclusive opportunity to get involved long before the token hits exchanges. With so much value in the roadmap, and the token set to rise to $0.02 during the later presale stage, this is a big chance for investors to make some big gains, especially while it looks like there’s a bull market on the horizon.
You can participate in the MCADE presale here.
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