Hong Kong venture capital entity Chiron Partners has recently introduced a new ecosystem fund, catering primarily to Terra (LUNA), offering extra opportunities for innovation to the layer-one DeFi protocol.

Specifically, the Chiron Terra Fund I – also known as CTI – is reportedly looking to complete the deployment of $50 million as capital injection assisting innovative initiatives, developing on top of the Terra ecosystem. 

Projects at the intersection of decentralized finance and “metaverse-linked” non-fungible token platforms will satisfy the requirements to be able to receive the capital injection, per the company. 

Developed using Cosmos SDK and Tendermint, Terra reportedly functions as a DeFi protocol utilizing fiat-pegged stablecoins to operate international payment infrastructure. 

The native LUNA token has reportedly been built to absorb the short-term volatility of Terra-based stablecoins. With the Columbus-5 upgrade rolled out in October, Terra aims to host 160 new projects by early 2022. 

Terraform Labs, the development firm from South Korea behind the Terra blockchain, has reportedly managed to secure $150 million in funding in early 2021. 

High-profile crypto venture funds including Pantera Capital, Galaxy Digital, and BlockTower Capital all made contributions to the raise. 

Terra has reportedly been spending time and resources in positioning itself as among the biggest DeFi-focused blockchains on the market, with the overall value locked exceeding the $13 billion benchmark, per insights from the industry. Only Ethereum has a higher TVL.

Regarding price performance, LUNA has reportedly experienced exponential growth of more than 9,000% in 2021. In November, the cryptocurrency peaked above $77.00.