The acquisition aims to offer developers and users of the Terra blockchain a better experience. It’s also a reminder that the Terra ecosystem is striving to emerge from the rubble of its collapse.
Terraform Labs, the developers behind the Terra blockchain, has acquired Pulsar Finance, a cross-chain portfolio manager and data infrastructure provider, TFL and Pulsar announced on X.
The acquisition aims to advance TFL’s technology stack, and offer developers and users of the Terra blockchain a better experience. It’s also a reminder that the Terra ecosystem is striving to emerge from the rubble of its collapse.
The LUNA token was down more than 8% on Nov.13, when the news was announced, after climbing by about 50% in the past seven days.
LUNA is an updated version of the original token, now called Luna Classic, which was at the center of the crash of the Terra ecosystem. Terra is still mired in the legal fallout from the crash. The U.S. Securities and Exchange Commission sued Terraform in February for allegedly selling unregistered securities and defrauding investors.
Pulsar Portfolio Manager
In the aftermath of the acquisition, Pulsar’s core product, its portfolio manager, will be incorporated directly into Station. Station is TFL’s cross-chain wallet that offers users the ability to manage tokens, vote, and gain access to apps across supported chains from one centrally located place.
Simultaneously, Pulsar Data, a blockchain data APIs and SDKs provider, will be integrated to Foundation, TFL’s infrastructure offering. This integration will improve cost-efficiency for developers keen on building on the Terra blockchain.
Terra 2.0 has $7.3M in total value locked, and three dapps with over $1M in TVL, according to DeFi Llama. Assets on the original Terra network had climbed to as high as over $20B, which evaporated in a matter of days.
“This acquisition immediately boosts Terraform Labs and our ecosystem’s ability to rapidly bring best-in-class, cross-chain applications to market,” said Chris Amani, CEO of Terraform Labs, in a blog post.
Do Kwon, the co-founder of Terra and former CEO of Terraform Labs, was found guilty of falsifying documents wand was sentenced to four months in jail in Montenegro.
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Pulsar supports 96 networks and over 700 protocols, according to the acquidition announcement. Its analytics platform offers users the ability to monitor the performance of their tokens and keep an eye on all their DeFi positions and NFTs across various blockchains.
As part of the deal, the team at Pulsar Finance, composed of over 20 personnel, will join TFL’s workforce, augmenting its technical expertise.